BMO Introduces Spanish-Language Mortgage Application for Latino Families' Homeownership Aspirations

BMO's New Initiative for Latino Homebuyers

In an effort to enhance homeownership access among Latino families, BMO has launched its inaugural Spanish-language mortgage application. This application can be accessed both digitally and in-brach, specifically designed to cater to the unique needs of Latino clients. The bank's commitment to providing exceptional experiences is evident in their endeavor to connect with clients in the language they are most comfortable with.

With this initiative, BMO aims to bridge language barriers that have historically hindered Latino families from navigating the mortgage process. The new application empowers individuals to manage this significant financial undertaking—whether they're first-time buyers or multigenerational households—by offering culturally relevant tools that underscore their diverse financial landscapes.

According to recent findings from BMO's Real Financial Progress Index, nearly 70% of Latinos consider homeownership a vital financial goal in their lives. In a major milestone, Latino homeownership rates in the U.S. hit a record high in 2024, boasting an impressive 9.8 million households and a net gain of 238,000 new homeowners as reported by the National Association of Hispanic Real Estate Professionals (NAHREP).

Lizzy Diaz-Ortiz, VP of Hispanic/Latino Banking at BMO, expressed the significance of this initiative by stating, "Buying a home is one of the most significant investments anyone will make in their lifetime. We believe that language should never be a barrier to understanding terms, making informed decisions, and building generational wealth." She highlighted BMO's dedication to guiding Latino clients through their homebuying journey with the necessary tools and advice in their preferred languages.

Furthermore, Gary Acosta, CEO of NAHREP, praised BMO's proactive measures in eliminating language barriers and promoting homeownership among Latino families, echoing the spirit of inclusiveness and practicality that the initiative embodies.

Consumers can now begin their mortgage applications online or by consulting with a Spanish-speaking mortgage specialist, making their journey towards homeownership smoother and more tailored.

Start Your Homeownership Journey

With BMO's new application, Latino families can conveniently navigate the complexities of mortgage acquisition in their native language, ensuring they are well-equipped to make informed financial decisions. The announcement of this application marks a decisive step towards making homeownership more accessible in the Latino community, aligning with BMO's mission to foster economic growth and empowerment.

About BMO Financial Group

As one of North America's largest banks, BMO Financial Group is dedicated to serving over 13 million customers across various markets, backed by a robust asset base of $1.4 trillion as of April 30, 2025. With a strong history spanning over 200 years, BMO continues to uplift communities while emphasizing its purpose to "Boldly Grow the Good" in both business and life. This new initiative reaffirms their commitment to fostering positive change and providing inclusive financial solutions.