The American Dream promises a number of things, one of those things being a home... accented with an optional white picket fence. However, less than half of Hispanics in America have been able to seize that portion of the "Dream," due greatly to the fact that minorities are more likely to be denied loans and they are less likely to apply for conventional mortgages for the same reason.

Hispanics make up 17.3 percent of the nation's population. The U.S. census stated that only 9.4 percent (5 percent according to Zillow) of the Hispanic population filed purchase applications for homeownership; compared to whites who comprise 63 percent of the U.S. population and 64.8 percent of whites have applied to become homeowners. The homeownership rate for Hispanic householders in 2013 was at 45.5 percent, a constant decline since 2009 (48.1 percent), compared to 73.4 percent of whites. Broad disparities exist in homeownership rates, which predominately affect Black and Hispanic hopeful homeowners. The HMDA indicated that Latinos and African Americans are more likely to have their mortgage applicant to be denied; when applying for a conventional loan, Black applicants are 2.4 times and Hispanic applicants are 1.98 times more likely than white applicants to be denied.

"The American dream of homeownership is not equally shared by all, even today. Our research shows that minority homebuyers are encountering difficulties that often aren't shared by white homebuyers," said Stan Humphries, chief economist for Seattle-based Zillow, an online real estate database.

During the housing bubble in 2006, home values appreciated at the highest rate for Hispanics, much more than any other race -- and Hispanics were hit the hardest when home values bottomed. The home values fell 46.2 percent from the height to the bottom. During the housing bust, Hispanics not only lost value in their home but many homes were foreclosed upon. While Hispanic communities were hit the hardest, their home values have been rapidly recovering. Home values have increased 25.3 percent from the bottom.

Asian Americans and Anglo-Americans are more likely to have higher incomes, superior credit scores and have higher education levels than African Americans and Latino Americans: factors that certainly contribute to the fact that Asians and Anglos can better afford and access home ownership. Also, Blacks and Hispanics begin the home-buying process with less income and generally only put down 5-6 percent or less for a down payment for a home. Nonetheless, respondents who contributed to the joint report, A House Divided: How Race Colors the Path to Homeownership, published by Zillow and the National Urban League indicated that their race was a factor when deciding to shop around for multiple mortgage quotes. Also, Blacks and Hispanics are more likely to have their mortgage process take longer.