Arturo—Another Homeowner Thanks to the Latino Community Credit Union

For Arturo, his wife, and their four children, life has changed enormously in the past month, time that they have spent living in their own home. "It is an indescribable sensation," says Arturo excitedly when questioned about what it feels like to be a new homeowner.

A long but certain journey
It all began two years ago when Arturo, tired of paying rent, decided together with his wife that it was time to look for ways to become homeowners. "We calculated how much we had paid renting and were surprised by the amount of money we were losing," commented Arturo who believes in the purchase of a house as an investment.

With this in mind, he went to the Latino Community Credit Union, a financial institution of which he had been a member for a couple years. There they gave him all the information on how to become a homeowner and explained the process that he should follow to complete the requirements. Arturo also investigated the mortgage process at other institutions. "Other institutions would lend to me but with a higher interest rate for not being a resident of this country. Also, they demanded a higher down payment from me," noted this Colombian who believes that many times the eagerness of purchasing a home leads people to fall into the hands of unscrupulous lenders. "In one place they recommended that I falsify the numbers so that the calculations would work out better, but I didn't want to do it." Instead, he chose Latino Community Credit Union because of its strong reputation.

Completing the process
The preparation process caused Arturo to evaluate his budget, update his accounts, and develop his credit history. "After organizing my finances, I attained the much yearned for loan for my home, $110,000. The credit union helped me get $10,000 in assistance as well for being a first-time homebuyer and an interest rate of only 7%," commented Arturo who appreciated all the help that the Latino Community Credit Union gave him. For him, his financial institution is synonymous with trust and understanding. "Everything was very clear from the beginning."

A new life
Arturo and his family now feel more secure. "The kids have more liberty and look happier. As I said at the beginning, we are living with indescribable feelings of happiness, and we have stopped losing money as well. Now we pay the mortgage, and we see our investment," ended Arturo who advises anyone like him who one day wants to buy a house to come to institutions like the Latino Community Credit Union that truly help.