Latino Homebuyers

CrossCountry Mortgage Expands Offerings For Hispanic Homebuyers

Posted on by TMN Editor
CrossCountry Mortgage is investing in the future of Hispanic homeownership through a new Spanish mortgage application and a focused Hispanic website. Leaders at the company announced their intentions on Tuesday. CCM is one of America’s largest retail mortgage lenders and has been included nine times on the Inc. 5000 list of America’s fastest-growing private businesses.  The company is also a partner of the National Association of Hispanic Real Estate Professionals, a trade association that works towards economic mobility for Hispanics, including homeownership. “Our support for the Hispanic community extends well past translated materials. This is personal,”  says CCM Chief Brand Officer Laura Soave.  “We have hundreds of Spanish-speaking loan officers with deep roots in the community. We’re partnering with organizations…

BOA Introduces No Down Payment, Closing Cost Mortgage Solution For First-Timers

Posted on by TMN Editor
Bank of America is introducing a zero down payment, zero closing cost mortgage solution for first-time buyers geared towards underserved communities. The Community Affordable Loan Solution will roll out in designated markets, including certain Black and Hispanic/Latino neighborhoods in Charlotte, Dallas, Detroit, LA, and Miami. It is a Special Purpose Credit Program that operates off of factors like timely rent, utility bill, phone, and car payments. It does not require mortgage insurance and a minimum credit score. Eligibility is based on income and home location. Prospective buyers have to complete a homebuyer certification course from approved counseling partners prior to application. The program is in addition to BoA’s existing Community Homeownership Commitment program, which aims to help 60,000 individuals and…