First Community Mortgage Launches Hispanic Home Opportunity Loan Program


NASHVILLE, Tennessee., August 31, 2021 / PRNewswire / – First Community Mortgage Announces the Launch of HOLACASA, a Home Loan Program that Removes Barriers to Homeownership for Hispanics. The official launch took place at the NAHREP (National Association of Hispanic Real Estate Professionals) Re: Connect event in Nashville.

“It’s about branding and consolidating the many initiatives we offer to Hispanic and Latin communities,” says Miguel Vega, FCM’s Executive Vice President of Multicultural Business Development and Chief Diversity Officer. “We wanted to wrap everything we’ve done under an official name as we continue to refine and expand the initiative.”

Vega notes that HOLACASA is more than just an Individual Taxpayer Identification Number (ITIN) mortgage program, although it does include this component. FCM assesses the creditworthiness of mortgage applicants through other non-traditional qualifying criteria for a workforce that often includes self-employed, seasonal workers, or income from multiple jobs. In addition, the company offers educational resources to help potential Hispanic homebuyers become familiar with and feel more comfortable with the mortgage process.

“The Hispanic housing market is currently the primary driver of homeownership growth in America,” said Vega. “Hispanics have accounted for 62.7% of net homeownership gains in the United States over the past decade, and leading indicators suggest this trend will continue for the foreseeable future.”

FCM says it is dedicated to helping create a community of potential multicultural buyers, noting that its highly successful Multicultural Lending Initiative (MCLI) was launched in 2016. HOLACASA, which originated and spans the MCLI , also provides translation services to real estate professionals. education programs, bilingual mortgage marketing resources and loan products (including ITIN mortgage loans and other specialized programs), as well as other products and services.

“We are honored to be recognized as one of America’s premier multicultural market awareness companies,” said Keith canter, CEO of First Community Mortgage and one of the company’s co-founders. “Our expertise provides real estate professionals, including real estate agents and brokers, a unique competitive advantage in the Hispanic market, the largest multicultural segment and the second fastest growing ethnic group in the United States.”

HOLACASA is open to foreign nationals and non-resident immigrant status with US ITIN / W7 tax returns; applicants must have filed US taxes for the previous year. Loans can be used for primary residence, secondary residence, and investment property, and are also available for unsecured condos, manufactured homes, 1-4 unit properties, townhouses / PUDs, and land vacant. Loans up to $ 6 million. The HOLACASA website includes other facts, opportunities and guidelines.

“The American dream of owning a home should be a reality for everyone,” says Vega. “Homeownership provides a sense of stability, pride in owning and the opportunity to build equity and wealth for future generations.”

Consumers and real estate professionals wishing to learn more about HOLACASA should contact us through our website.

First Community Mortgage, Inc. is a wholly owned subsidiary of First Community Bank of Tennessee, and includes the Wholesale, Correspondence and Retail divisions. FCM is an FNMA, FHLMC and GNMA seller / repairer and provides mortgage solutions to consumers and financial institutions. FCM has funded more than $ 3.5 billion in mortgage loans in 2020. It was recently named one of the Best Places to Work 2021 by the Nashville Business Journal and one of the Top Work Places 2021 by the Tennessee newspaper. First Community Mortgage is an Equal Housing Lender, NMLS ID 629700.

Media inquiries
B. Andrew (Drew) Plant
[email protected]

First community mortgage
Megan Chastain, vice president of marketing
[email protected]

SOURCE First community mortgage

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