Hispanic Homebuyers
Vivian Duran • August 30, 2021
Hispanic Heritage Month
The Hispanic population is the fastest-growing culture group in the United States leading to demands for new housing. More overcrowded housing is caused by lack of affordable housing. There are many challenges based on despite laws that are set in place to protect Hispanics and other minority groups in the housing market. Some immigrants have a lack of information about the homebuying process and an inability to meet mortgage underwriting criteria. There are several other factors contributing such as the young Hispanic population dropping out of school due to financial pressure to join the workforce, to contribute to the family income. Financial success depends increasingly on education, from college rather than just high school. These barriers include problems in discriminatory treatment in both the housing and mortgage markets, and a lack of understanding and comfort with the homebuying and mortgage processes. The instability of rental housing compared to homeownership contributes to issues. Poverty impedes home conditions, adequate heat, lack of air conditioning, importable plumbing, or routing infestations.
The American Dream is the idea that every hard-working U.S. citizen and immigrant will have equal opportunities and freedom to have a good education, a successful career, comfortable homeownership, and financial prosperity. Most immigrants flock to United States for a chance of opportunity and reward of hard work to achieve a comfortable home and better education opportunities. They take some of the hardest jobs while earning below or minimum wage. With COVID-19 so many were impacted and became unemployed. The housing market has a lack of housing inventory, especially in the stock of affordable housing. In this country hard working individuals must build up wealth for themselves and their children for security and prosperity. Hispanics are willing to carry on the traditions of challenging work, sweat, and sacrifice to have the reward of decent housing for their family living.
As the United States becomes more diverse, Hispanic homeownership has driven the rise of national homeownership rates. Hispanic people have both placed more value culturally and financially which overcame great obstacles to buying homes. Homeownership is an important generator of household wealth transferred between generations. Millennials are often tied to their family and would rather buy a home for their mom and dad and live with them before pursuing their own home for themselves. Hispanic buyers often place an extra value on homes with garages or accessory dwelling units to allow for possibility of multi-generational living.
Interfaith Housing Alliance’s mission is to strengthen communities by providing affordable housing opportunities and supportive services to improve the quality of life and economic stability for seniors, working families and individuals. We assist with the entire home buying process which can be lengthy depending on whether credit repair or budgeting is needed. We counsel and encourage our clients to maintain their goals, providing resources such as promoting down payment assistance programs and encouraging land-use to create more affordable housing projects. We want our clients to believe in themselves and to know that owning a home is a lifetime achievement. With lots of love, encouragement, and commitment - dreams can come true but require hard work and dedication. We are pleased to announce we have LanguageLine Solutions as our interpreting and translating services to help our growing diverse community with over 240 languages served.
A quarter of grant wins, community partnerships, and small moments that remind us why this work matters. Here's what's been happening at Interfaith Housing Alliance since the summer. GRANTS & FUNDING: Four New Grants Fuel IHA's Work This Quarter Interfaith Housing Alliance is proud to announce four funding awards totaling $220,000 during the last quarter from our community partners. In June 2026, IHA was awarded a $30,000 grant by Ausherman Family Foundation. This capacity-building grant will provide funding support for the organization during its transition to new leadership. It will also support IHA's work with key community consultants with the goal of recentering IHA's programs and services in Frederick, MD. In July 2026, IHA was awarded a $125,000 grant from Morgan Stanley. This operational grant supports IHA in its ongoing quest to create and provide affordable housing opportunities for low- to moderate-income (LMI) community members. It also supports IHA's continued community programming, which provides access to financial education and affordable homeownership opportunities. In August 2026, IHA received two funding awards in support of IHA's Financial Dignity and Empowerment Services. IHA was awarded a $30,000 grant from the Maryland Department of Housing and Community Development's (DHCD) Maryland Housing Counseling Fund (MHCF). IHA was also awarded a $35,000 grant by Rural Maryland Council (RMC) through their Maryland Agricultural Education and Rural Development Assistance Fund (MAERDAF) program. These grants will support the full spectrum of community programming IHA offers, including group educational workshops on financial health, individualized financial coaching and housing counseling, and pathways to affordable homeownership. We are deeply grateful to these partners for their continued investment in this community.
Exciting, the final renovations of the last two units are underway at Weinberg House, a long-standing affordable senior living community in Fredrick, Maryland. Originally built in 1994, the property provided safe, stable housing for older adults for decades. Renovations began on May 1, 2023. At that time, they had a total of 23 units to renovate. The renovations included freshly painted walls, new carpet in the bedrooms, new flooring in the other rooms, new cabinets in the bathroom, as well as new kitchen cupboards, fixtures and new appliances. The final two units will be ready for lease up June 15, 2026. The renovation of Weinberg House represents a meaningful investment in both people and place. By modernizing the property while protecting its mission, this project will help ensure that affordable, welcoming housing remains available for seniors for years to come. It is an encouraging example of how thoughtful redevelopment can strengthen communities and honor the residents who call them home.
In March 2026, IHA was awarded a $50,000 grant through the Frederick County Government’s Helping Empower Area Resources Together (HEART). These one-time operational funds were awarded to mitigate the effects of the longest federal government shutdown in history. This grant has allowed IHA to continue providing essential programs and services to Frederick County residents despite challenges at the federal level. IHA was also awarded a $5,000 grant from the City of Frederick through the Community Promotion Grant program. This grant supports aging in place and youth development needs among City residents through IHA’s Supportive Services. The program serves residents of IHA’s senior and multi-family affordable rental communities at 222 Broadway Street (Weinberg House) and 520 N. Market Street, respectively. In April 2026, IHA was also awarded a $25,000 Community Partnership Grant from Frederick County Government. This grant supports IHA’s full range of Financial Dignity and Empowerment Services, including our homeownership and financial education programming. IHA’s Purchase-Repair Program provides an avenue to homeownership for those who otherwise would not qualify for a traditional home loan. In Credit Café, participants work specifically on improving their credit. Financial Freedom Bootcamp helps participants improve their skills in budgeting, saving, debt reduction, and financial goal setting. The Frederick Affordable Housing Incubator (FAHI) brings multiple sectors together to increase the affordable housing inventory in Frederick County.