Introduction

Last year's State of Hispanic Homeownership Report provides valuable insights into homeownership trends and challenges facing Hispanic households across the United States. Published annually by the National Association of Hispanic Real Estate Professionals (NAHREP), this report analyzes homeownership rates, mortgage lending patterns, and demographic factors to assess the housing market landscape for Hispanic consumers.

Some key findings from NAHREP's analysis this year include:

- The Hispanic homeownership rate reached 49.1% in 2021, up from 47.5% the previous year. This marks the highest homeownership level for Hispanic households since 2007, before the housing crisis.

- Hispanic homebuyers accounted for 67% of net

## Expenses when buying a home:

- **Home Price**: This is the sale price or appraised value of the home you want to purchase. The mortgage amount will be based on the purchase price less any down payment.

- **Down Payment**: The down payment is the portion of the home's purchase price that you pay upfront, rather than finance into the loan. A 20% down payment is commonly recommended, but many lenders allow down payments as low as 3-5%. The down payment reduces the amount you need to borrow.

- **Interest Rate**: The interest rate is the annual rate charged on the mortgage loan. Rates are commonly in the 3-7% range for 30-year fixed mortgages but can vary depending on economic conditions. The rate significantly impacts your monthly