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Rising home prices and mortgage rates have made it more difficult for many first-time homebuyers and have pushed some to consider alternative forms of financing. A survey out of Pew Charitable Trusts found that Hispanic homebuyers are the most likely to pursue nontraditional financing, which is almost always riskier than a standard mortgage.

What the data show

According to Pew’s research, 34 percent of Hispanic homeowners used non-mortgage financing at some point in their home purchase. That includes land contractslease-purchase agreementsseller-financed mortgages and personal property or chattel loans, which are most common for manufactured homes.

For comparison, approximately 23 percent of non-Hispanic Black borrowers used alternative financing for their home purchases, while 19 percent of white homebuyers did the same.