Campaign Aims to put Homes in Latinos' Reach

Freddie Mac, Far West Bank and the Community Development Corporation of Utah (CDCU) on Tuesday launched a new campaign to make home ownership more accessible to Utah's fast- growing Latino community and other minorities.

Utah's Latino population has more than doubled in the past decade, with more than half those new residents choosing Salt Lake City for home. However, though about 20 percent of the city's population today is Latino, just slightly more than half of them own their own homes.

Overall, 71 percent of the state capital 's residents are home owners, the U.S. Census Bureau reports. Statewide, 51 percent of Latinos own their residences, compared with 72 percent of all Utahns.

Dubbed "Catch the Dream Utah," the new multiagency program will include outreach and borrower education through the CDCU, home ownership assistance through the City of Salt Lake and other communities, and flexible, low-down-payment mortgages from Far West Bank.

Freddie Mac has agreed to purchase the mortgages, said Sen. Bob Bennett, R-Utah.

Those wanting more information about Catch the Dream Utah should contact the CDCU at 801-994-7222.

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