Freddie Mac has launched a Spanish-language version of its homebuyer education Web site, a colorful site with interactive cartoons targeting prospective buyers.
"El Camino a su Propia Casa," or the road to your own house, targets Hispanic families, who statistically are less likely to own their own homes. Less than 48 percent of Hispanic families in the United States own their homes, compared with the 68 percent overall U.S. homeownership rate.
This disparity is connected to language barriers and a lack of information about the home-buying process, the National Association of Hispanic Real Estate Professionals says.
"Fifty percent of Hispanics in the United States prefer to communicate in Spanish," said Ernest J. Reyes, chairman of the 10,000-plus member association.
The site takes visitors through four steps: researching homeownership ("Library"), learning about credit ("School"), securing a mortgage ("Bank") and opening the door ("Home").
Accessible by a link on Freddie Mac's home page, the site is located at www.freddie mac.com/comprecasa.