Elevate Your Approach to Serve the Expanding Hispanic Market

Hispanic homebuyers are playing an increasingly important role in the U.S. housing market and will continue to shape it for decades to come. The National Association of Hispanic Real Estate Professionals (NAHREP) notes that Hispanic homeownership increased again for the sixth consecutive year in 2020, while the Urban Institute predicts that in the next twenty years, 70% of new homeowners will be Hispanic. These statistics are exciting, and point to a future where more borrowers from diverse communities will participate in the housing market.

As this dynamic market expands, so does the need for seamless, nimble technology to help homebuyers navigate the mortgage process. Lenders should anticipate incorporating tech with bilingual capabilities, in addition to hiring bilingual staff, to build stronger relationships with Hispanic consumers. Dual-language applications help to build trust, increase efficiency, and reduce confusion throughout the homebuying journey. Effective digital mortgage technology is already a key component in making homeownership accessible, and solutions that offer services in Spanish give Hispanic borrowers more options for participation. 

SimpleNexus’ latest white paper, “Hispanic Homeownership: Understanding the Present and Embracing the Future,” explores the future of Hispanic homeownership, the current tools this community has for building generational wealth, and the trends lenders need to know in order to cultivate strong relationships and deliver stellar services to borrowers. This paper examines topics such as COVID-19’s impact on Hispanic workers, current and projected homeownership rates, and how lenders can leverage technology to empower borrowers during the homeownership journey. Read it here.

SimpleNexus now offers the Nexus Bilingual™ functionality, which allows borrowers to submit loan inquiries in Spanish. Nexus Bilingual™ ensures that the loan inquiry form, landing page, and welcome email to the borrower are all in Spanish, with the application to follow in English to be completed in accordance with the lender’s existing limited English proficiency (LEP) policy. With this solution, loan officers have an excellent opportunity to expand their reach in a traditionally underserved market, and borrowers can start the homeownership journey with confidence. 
Request a full demo of Nexus Bilingual here.

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