Marisa Calderón, Executive Director of the NCRC Community Development Fund (NCRC CDF), is a seasoned executive who has been nationally recognized, awarded, and cited for her expertise in the housing and financial services industries.
The NCRC CDF, certified by the United States Treasury, was established in 2007 with the mission of being a lender that provides financing for the development of affordable housing . They raise capital in order to relend it at very affordable rates so that housing developers can build houses for the poor.
In addition, they make loans to small businesses of up to $500,000 with a focus on Latino, black and women entrepreneurs.
In an interview with Real America News, Calderón said that immersing himself in the real estate sector It was a kind of progression throughout her career since she started in the financial services sector.
Calderón is of Mexican roots. Her parents were in the US Air Force and spent time moving from cities until they settled in Southern California. She grew up in her own house and over the years she knew that owning her own house was part of her life plans.
When she entered the real estate sector she realized how privileged she was since home ownership is not available to everyone. The adverse impact occurs especially in the Latino and black populations, preventing them from improving the well-being of their families.
Experiencing this new reality, Calderón became passionate about helping and helped create opportunities for people with less chances also have the opportunity to achieve a better life.
Difficult but not impossible
Calderón stressed that in terms of real estate, there is a real housing crisis which makes it more difficult for someone to rent or buy a house. The problem is exacerbated when people do not have high incomes.
“Therefore, it is incredibly important for us to make sure that we can be part of a solution to build more houses and build more houses than are affordable for ordinary people,” Calderón said.
He indicated that for communities of color, owning a home is the best way to earn wealth for your family and having a home that they can paying is their entry point to closing that gap.
The biggest hurdle they face is the down payment and understanding how much they think they need versus how much actually need to be able to buy a house.
“Most people still have the misconception that you need a down payment of 20% and that is not true”, explained Calderón. “They can buy a house if they have a 3.5% down payment, and depending on what their profession is and how much they earn, there are sometimes down payment assistance resources that can cover all or most of the down payment.”
In California and some cities in Florida where many Latinos live, the high and rising cost of housing tends to be a challenge, but this should not be an impediment to seeking options.
“Because Latinos are more likely to live in a multigenerational environment with several people and their income contributes to the purchase of a home,” said the director. “Sometimes that is really a great benefit because you can buy a house that one person could not necessarily afford on their own.”
Calderón said she is very happy to represent an entity that fights for the welfare of people of color. She has almost two decades of experience dedicated to economic mobility issues.
Calderón is classified in Swanepoel Power 87 as one of the the most powerful leaders in the residential real estate industry and was named a HousingWire Woman of Influence in 2018 and 2021 for her work to increase the real estate and mortgage professionals’ understanding and appreciation of the Hispanic home buying market.
The 87% of NCRC CDF Borrowers are People of Color, Latino and Black. The NCRC CDF is a subsidiary of the National Community Reinvestment Coalition (NCRC), formed in 1990, whose grassroots member organizations create opportunities for people to build wealth. They work with community leaders, legislators, and financial institutions to advocate for fairness in banking, housing, and business.