BMO Real Financial Progress Index: U.S. Latinos Redefine Homeownership with Multigenerational "Familia Mortgages"

Amid rising economic pressures, new BMO data reveals a cultural shift toward pooling family resources to achieve a shared dream of stability.

CHICAGO , April 22, 2026 /PRNewswire/ - New data from BMO's Real Financial Progress Index shows despite a challenging housing market, the aspiration for homeownership remains strong among U.S. Latinos—even as many are rethinking how to achieve it. Amidst economic pressure, Latino families are welcoming the "Familia Mortgage," an intergenerational strategy to pool resources and make their shared aspirations a reality.

The aspiration to own a home remains strong, with 76% of U.S. Latinos saying homeownership is a life goal. Yet affordability pressures persist, and more than half (57%) believe owning a home is unattainable in their lifetime — a sentiment most pronounced among Baby Boomers (76%). For U.S. Latino homeowners, family is a structural pillar of their financial journey. Nearly half (46%) report they could not have purchased their home without financial assistance from family, compared to 38% of the general U.S. population.

"In the face of economic pressures, the Latino community is demonstrating incredible resilience by transforming their dreams of homeownership into a family affair," said Lizzy Diaz-Ortiz, Vice President of Hispanic/Latino Banking, BMO. "We're seeing a powerful shift away from the traditional property ladder toward a shared goal of establishing a 'forever familia home.' At BMO, we are committed to helping consumers make real financial progress so they can turn these dreams into reality."

The "Forever Familia Home": A Multigenerational Pact for Stability

For many U.S. Latinos, the traditional idea of a "starter home" no longer applies, with 59% of non-homeowners agreeing that buying a home, only to upgrade a few years later, "makes no sense." Instead, they are opting for a more culturally rooted model: a "forever familia home" meant to serve as a central hub for multigenerational care and long-term stability, with 67% of U.S. Latinos expecting their first home purchase to be their last.

• The Drive is Familial: The motivation to create this hub is strong, with 51% of all U.S. Latinos stating it's important to purchase a house to provide for their parents or grandparents in the future, compared to 42% of the general U.S. population. This figure rises to 66% for Millennials and Gen Z, and 71% for the Sandwich Generation – who are already managing the responsibility of caring for both children and aging parents.
• Shared Living Becomes a Strategy: To make this a reality, 46% of U.S. Latinos would lower their housing expenses by living with family (such as grandparents, parents, or adult children) and splitting the rent or mortgage – a slightly higher rate than the general population (40%).
• Family Care is the Financial Priority: But for many, financial commitment to family comes first. Over half (51%) of the U.S. Latino Sandwich Generation say financially providing for their parents, grandparents, or other family members is more of a priority than owning a home.

The Gen Z Gamble : Weighing Financial Anxiety against Homeownership Ambition

For Gen Z U.S. Latinos, the journey to homeownership reveals a unique paradox between anxiety and ambition with 61% agreeing that the American Dream is no longer solely about owning a home (compared to 41% of Boomers).

The reason is a matter of priority: for 68% of Latino Gen Z, owning a home is less about investment and more about achieving a "life milestone." It is this milestone-driven mindset that justifies taking drastic measures for a sense of accomplishment money alone can't buy.

• Retirement Can Wait, Stability Can't: 50% of Gen Z Latinos say they would dip into their retirement savings to fund a home purchase.

• New Zip Code? No Problem: The homeownership dream is no longer tied to a specific location. 63% of Gen Z Latinos would be willing to uproot their lives and move to a different state or country to afford a home, an increase from 43% in 2025.

Hacking the Housing Market: U.S. Latinos Turn to AI to Navigate Homeownership

With this resourceful mindset, Latino homebuyers and prospective buyers are increasingly turning to AI to demystify the complex path to homeownership. 61% of U.S. Latinos either use or plan to use AI to support their homeownership journey, compared to just 48% of the general population.

Younger generations are leading this charge, with 77% of Gen Z and 75% of Millennials embracing AI as a practical tool to break down traditional barriers.

• Breaking Down Language Barriers : Roughly a quarter of Gen Z (22%) and Millennials (26%) are using or plan to use AI to translate home-buying information or financial resources into their preferred language.
• A Pocket Financial Advisor : 40% of Millennials and 34% of Gen Z use or plan to use AI to educate themselves on different loan types and to understand what they can realistically afford (35% and 32%, respectively).
• The Homebuyer's Help Desk : A third of Millennials and Gen Z turn to AI for immediate answers to their questions (34% and 33% respectively) and 30% do so to better understand the legal or regulatory requirements for purchasing a home.

Laying a Foundation with BMO

BMO is dedicated to helping the Latino community overcome financial barriers and achieve their homeownership goals. Through a combination of financial grants, personalized bilingual support, and deep-rooted community partnerships, BMO is providing tangible solutions to make the "forever familia home" a reality.

• Meet with a financial specialist and take advantage of bilingual support : Families can connect with a bilingual BMO Financial Advisor to discuss their unique financial situation in English or Spanish.
• Financial Education Tools : Utilize BMO SmartProgress™ for budgeting, saving, and planning tools available in English and Spanish .
• Calculate costs and set a goal: To understand the cost of a forever home, BMO offers calculators to help customers estimate several housing expenses, including Mortgage Affordability, Mortgage Down Payment and Rent vs Own .
• Take advantage of first-time homebuyer programs and BMO Community Grants: Explore programs designed to assist with down payments and closing costs. In certain markets, first time homebuyers might be eligible for programs like the BMO Welcome Home Grant Program .

To learn more about how BMO supports U.S. Latinos in making real financial progress, visit https://www.bmo.com/goals .

About the BMO Real Financial Progress Index

Launched in February 2021, the BMO Real Financial Progress Index is an indicator of how consumers feel about their personal finances and whether they are making financial progress. The survey aims to spark dialogue that will help consumers reach their financial goals and to humanize a topic that causes anxiety for many – money.

The research detailed in this document was conducted by Ipsos in the U.S. from February 17, 2026, to March 18, 2026. A sample of n=2,500 adults ages 18+ in the U.S. were collected via the Ipsos panel, including n=764 Latinos. Quotas and weighting were used to ensure the sample's composition reflects that of the American population according to census parameters. This survey has a credibility interval of +/- 2.4 per cent, 19 times out of 20, of what the results would have been had all American adults 18+ been surveyed, while the credibility interval for the Latino group is +/- 4.9 per cent.

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of January 31, 2026. Serving clients for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to approximately 13 million clients across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.

SOURCE BMO US