David Silva*

Homeownership has always been considered part of the American dream. However, according to a 2001 report produced by the White Housei, people with disabilities have a homeownership rate of only 10%. For Latinos, according to the 2001 U.S. Census, home ownership has grown to 48.1%, an increase of nearly ten percent in ten years. However, despite this rapid growth, the rate continues to lag behind the nation's overall rate of 68.1%ii. For Latinos with disabilities, homeownership often seems a dream far beyond their reach. Since 1989, Home Ownership Made Easy ("HOME"), a 501 (c ) 3, non-profit affordable housing organization, has been dedicated to providing both affordable rental and home ownership opportunities for persons with disabilities, making the dream a reality.

The programs implemented by HOME include:

The HOME Rental Program: The organization secures public and private financing to purchase properties throughout the west Los Angeles area. These properties are rehabilitated, made handicap accessible and rented to disabled clients who pay one-third of their income toward their rent. (an average of about $250.00 per month). Support services for independent living are provide by Westside Regional Center and independent providers. HOME currently owns 39 various properties which include condos, small apartment buildings and single-family homes. There are currently 150 disabled consumers living in HOME properties. Our tenant population is also ethically diverse and is composed of 26% Hispanic, 15% Black, 8% Asian and 51% Caucasian. Many of them previously resided in substandard housing in undesirable areas, group homes or lived with elderly parents.

The Individual Development Empowerment Account (IDEA): The IDEA Program is a 3 to 1 matching grant program offered by the Federal Home Loan Bank of San Francisco, through its member institutions. Under this program, HOME consumers are required to save their own funds in an "IDA" or individual development account with Hawthorne Savings, our sponsoring member institution, for a period of 10 months. After 10 months, the IDEA Program provides the consumer with matching grant funds of up to $15,000 to be used for down payment on a home.

The United Way of Greater Los Angeles/Individual Development Account (IDA) Program: The United Way of Greater Los Angeles IDA Program is sponsored through United Way of Greater Los Angeles. The IDA program is a savings program with a 2:1 match, that allows potential homebuyers to accumulate a down payment for a home. Throughout the two programs, participants will:

• Accumulate a down payment for a home

• Become aware of money management methods

• Will accumulate an asset

• Will gain financial independence

• Will gain the opportunity to start a savings pattern

Financial Literacy: Financial literacy is required when enrolled in the United Way GLA/IDA or IDEA/IDEA programs. Consumers, who are offered classes in a comfortable bilingual setting, are introduced to basic banking, credit, budgets, saving, loans, fraud, and Consumer Rights.

Home Choice: Home Choice is a loan product offered by Fannie Mae and by participating private lending institutions to disabled individuals or families with disabled children. HOME is the only organization in the state to offer qualified disabled borrowers, 3%, 30 year fixed financing through a special bond program offered by the California Finance Agency. Local cities and counties offer down-payment assistance programs, which can help to fill down payment gaps. One hundred and sixty disabled persons have become home owners through this program.

First Time Home Buyer Education is offered to all who are interested in purchasing a home. This is a Fannie Mae and lender requirement for the Home Choice loan. A hands-on workshop is given on a monthly basis at various Regional Centers, Community Centers in the Los Angeles area. The entire process of home ownership is taught through lecture, power point presentation and group exercises to enhance the learning process.

The Federal Home Loan Bank of San Francisco, awarded HOME with a $300,000 Affordable Housing Program ("AHP") Grant, to assist potential home buyers with down-payment and closing costs.

Section 8 to Home Ownership which is a program offered by local Housing Authorizes to assist those on Section 8 with a monthly mortgage payment. The payments are made throughout the life of the loan.

HOME's Latino Clients: During the past few years there has been a noticeable increase in requests for assistance by the Latino disability community. In California, 30 percent of the disabled population are of Hispanic Ancestry.

The organization has hired highly qualified staff, fluent in reading, writing and speaking Spanish. In addition, all of HOME's programs have printed materials in both English and Spanish and all of our Education Workshops and Community Forums are offered in English and Spanish.

We require our lending partners to provide information in Spanish and their loan representatives to be able to communicate with our Spanish speaking clients. Depending the severity of a persons disability one-on one counseling is also offered and available in Spanish. A local Latino News Paper " La Opinion" and local Television News station, has also featured the organization and its clients.

Through creative, culturally sensitive programs, HOME is helping to reverse the low homeownership rates for Latinos with disabilities. HOME continues to prove that financial stability and building assets positively alters the path of people with disabilities and their families living in poverty.

* David Silva is the Executive Director of Home Ownership Made Easy (HOME) in Culver City, CA.

i The White House, Executive Summary: Fulfilling America's Promise to Americans with Disabilities. (http://www.whitehouse.gov/news/freedominitiative/freedominitiative.html.) April 2001

ii National Council of La Raza (NCLR), Issue Brief: "Increasing Hispanic Homeownership: Strategies for Programs and Public Policy" Erika Hizel, Charles Kamasaki, and Geraldine Shafer. June 2003, No. 7.