LSVF: Housing Development - Request for Proposal

Author:	NCLR/RDF
Date:	May 8, 2008
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Summary

A large number of Latinos are becoming homeowners each year, according to data collected through the Home Mortgage Disclosure Act (HMDA).  This data indicates that more than 1.8 million Latino families purchased a new home between 2000 and 2004, with an all-time high of 49.6% in 2005.  Even with this expansion, homeownership among Latinos currently lags 26% under the national average.  In addition to supporting education in targeted areas of the U.S. (see Homeownership Counseling program section), the National Council of La Raza (NCLR) and the Raza Development Fund (RDF) wish to assist nonprofit organizations in developing affordable housing for first-time Latino homebuyers with predevelopment grants or grants to facilitate organizational growth that will increase the organization’s ability to develop quality affordable housing.