BMO Launches Spanish Mortgage Application to Aid Latino Families in Homeownership

BMO Launches Spanish-Language Mortgage Application

In a significant move aimed at supporting Latino families in their quest for homeownership, BMO has announced the launch of its first mortgage application available in Spanish. This new initiative, effective as of July 10, 2025, is accessible both online and in physical branches, ensuring that individuals can navigate the mortgage process in their preferred language.

The launch of the Spanish-language application is part of BMO's commitment to enhancing customer experiences by addressing the unique needs of diverse communities. With a focus on the Latino demographic, the initiative acknowledges the importance of accommodating multigenerational households who often make financial decisions collectively. By providing resources that are culturally and linguistically relevant, BMO aims to simplify and streamline the homebuying journey for Latino families.

Lizzy Díaz-Ortiz, vice president of Hispanic/Latino Banking at BMO, emphasized that owning a home represents one of life’s most significant investments. She stated, "We believe that language should never be a barrier to understanding terms, making informed decisions, and building generational wealth. Our team at BMO is dedicated to helping our Latino clients throughout each step of their home-buying process, offering tools and guidance in the language they prefer."

The importance of this initiative is underscored by recent data from the BMO Real Financial Progress Index, which reveals that a staggering seven out of ten Latinos see homeownership as one of their primary financial goals. As of 2024, there has been a record high of 9.8 million Latino homeowners in the United States, reflecting a net increase of 238,000 new homeowners, according to the National Association of Hispanic Real Estate Professionals (NAHREP).

Moreover, this initiative comes at a vital time when many in the Latino community are navigating the complexities of home buying. BMO's new option not only fosters financial inclusion but also empowers families by providing them with the ability to undertake the mortgage process in their native language. This step is particularly crucial for helping potential homeowners make informed decisions and address any language barriers they might face in traditional mortgage services.

Gary Acosta, CEO of NAHREP, expressed pride in collaborating with BMO to break down these barriers, stating, "This initiative reflects a genuine commitment to serve our communities in a practical, inclusive manner that aligns with their financial goals."

To initiate the mortgage application process, prospective homebuyers can either start their application online or reach out to a Spanish-speaking mortgage specialist for personalized assistance. This accessibility is pivotal in paving the way for more families to realize their dream of homeownership.

As part of the BMO Financial Group, one of North America’s largest banks, BMO is committed to fostering a positive impact in the world and advancing towards a prosperous, sustainable, and inclusive economy. With over 200 years of experience and a diverse team dedicated to delivering high-quality financial services, BMO stands as a vital support for individuals and families aiming to build their futures.

In summary, BMO's introduction of a Spanish-language mortgage application is a commendable initiative that helps bridge the gap for Latino families, providing them with the necessary tools to navigate the home-buying process confidently while ensuring that language remains no obstacle to achieving their dreams of homeownership.