Rising rents have people questioning whether now is a good time to buy a home. Wells Fargo will host a free “Advancing Homeownership Fair” to help Houston residents learn more about the homebuying process, local resources available for down payment and closing costs and opportunities that may help them achieve the goal of becoming a homeowner. The fair will take place on Saturday, July 15, 2023, from 10:00 a.m. to 1:00 p.m. at Houston Community College, 6815 Rustic Street, Houston TX 77087. Complimentary Breakfast will be served.

“Owning a home provides family stability and an opportunity to build generational wealth, but unfortunately, it may feel out of reach for far too many people, especially those in historically underserved communities,” said Valeria Esparza-Chavez, Head of Home Lending Hispanic Segment at Wells Fargo. “We continue to work every day across Wells Fargo and with industry partners to break down the systemic barriers that make homeownership more difficult to attain and help make the dream of homeownership accessible to all Americans.”

According to the 2022 State of Housing in Harris County and Houston, the affordability gap for homebuyers worsened between 2011 and 2021 because of increased housing sales prices. In fact, Hispanic residents will soon become the largest share of homebuyers in the county with a growing homeownership rate in both Houston and the U.S. between 2020 and 2021.

“It is even more important for potential homebuyers to be patient, prepared and ready to keep trying in this current market,” Esparza-Chavez added.

With low inventory and larger numbers of millennial homebuyers entering the market, experts advise to keep in mind these key tips when you are ready to purchase a home:

Have a homebuying plan: understand all the financial commitments and considerations of homeownership so that you’re setting yourself up for financial success.

Arrange for the true costs of home ownership: using a calculator to help you determine your budget, debts, location and down payment amount.

Leverage the advice of professionals: work with a home mortgage consultant, like at Wells Fargo, to make sure you have a solid financing plan with a pre-approval in hand; and a real estate agent that can help you find the home that meets your needs and present a solid offer.

Wells Fargo’s Advancing Homeownership Fair:

WHAT: Wells Fargo Hosts a free Advancing Homeownership fair in Houston

WHEN: Saturday, July 15, 2023, from 10:00 am to 1:00 pm; Breakfast will be provided.

WHERE: Houston Community College, 6815 Rustic Street, Houston TX 77087.

Registration: Register via wellsfargo.com/events (Enter the access code: AH23Houston)

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.