Hispanic Borrowers

As a Hispanic mortgage broker, I have seen countless Hispanic borrowers getting ripped off. I am glad with new guidelines in place to protect them. The issue I see now is that a lot of them do not qualify because they were so used to using Stated or No Doc programs to qualify. I think there are programs that will allow them to get loans, but they need education on the process, the guidelines and the new laws in place. They need to understand advantages like, the FHA non-occupant co-borrower program. They also need clarification on streamlines. I believe with strong education and communication we can help a lot of them save their homes or get into a new home. Education on strengthen their credit or fixing it is also necessary. I think there a lot of the people who do not hesitate to take advantage of these borrowers and that have created a lot of fear in them. Hopefully they understand that there are honest people who can help them and put them on the right road to better financial security.

MD licensed mortgage broker
Rockville condos