By: Ashmar Mandou

According to a report by the National Association of Hispanic Real Estate Professionals, homeownership among Latinos is rising. Despite rising home prices and high interest rates, the number of Latino homeowners in the U.S. reached a record 9,781,000 in 2024—representing 49 percent of all Hispanic households. Although this figure is slightly below the 49.5 percent reported in 2023, it reflects a net gain of 238,000 new Hispanic homeowners over the past year. While homeownership numbers are increasing, many feel the process to be quite daunting and overwhelming, which is where Neighborhood Housing Services of Chicago (NHS) steps in.

“One of the biggest factors in the home buying process, one of the burdens we take away is the fear,” said NHS of Chicago Regional Outreach Manager of the West Teleisa Coffee. “A lot of homebuyers, when they come in feel that their credit score is too low, they are unaware of grants, etc., so we take that stress away and meet them where they are.” Since 1975, NHS has worked to stabilize and revitalize low and moderate-income communities through the Chicagoland area with the help of several educational programs from homebuyer education, one-on-one consultations, homeowner financial-checkups, and more. “We want to make our clients feel comfortable. We create a plan that originates from them. We are working with their finances, their vision, their credit scores, we are truly working and creating a plan to help them along their journey. Our goal is to ensure people achieve their dream of homeownership,” said Coffee. A few of the programs NHS provides include:

Homebuyer Education
NHS’s comprehensive course will guide you through the entire home buying process. The program focuses on budgeting, improving credit, searching for a home, the closing process and down payment assistance programs.

Financial Literacy
Whether you are planning to purchase a home or simply need to improve your finances, this workshop will prepare you for financial security. Learn how to develop a spending plan, reduce your debt, and increase your credit score.

Foreclosure Prevention
NHS will help you better understand the foreclosure process by discussing home retention and explaining non-retention options, loan modifications, mediation and available mortgage assistance grant program information.

NHS will host several educational programs in the upcoming weeks. If you are interested in learning more or interested in taking your first step into homeownership, visit www.nhschicago.org or call 773-329-4111 the NHS Client Services line.