Rate has made a significant stride in financial inclusivity by launching the U.S. mortgage industry’s first fully integrated Spanish-language mobile application. This innovative tool aims to break down language barriers, providing Spanish-speaking consumers with seamless access to the home-buying and mortgage process.
The app empowers users to conduct a comprehensive range of mortgage-related activities directly from their smartphones, including searching for homes, applying for loans, monitoring application status, and connecting with bilingual mortgage professionals. It also offers access to educational resources tailored for Spanish-speaking individuals.
Key Takeaways
- First of its Kind: Rate introduces the mortgage industry’s inaugural fully Spanish-language mobile app.
- Comprehensive Features: The app supports home searching, mortgage applications, loan tracking, and communication with bilingual staff.
- Expanded Language Access: This launch is part of Rate’s broader Language Access Program, which includes Spanish digital applications, bilingual customer service, Spanish loan disclosures, and Same Day Mortgage services in Spanish.
- Market Impact: Rate has already experienced substantial growth in its Latino customer base, with a tripled salesforce and doubled funded loan volume in Latino communities.
Empowering Homeownership Through Technology
This new mobile application is a significant expansion of Rate’s ongoing commitment to its Language Access Program. The program ensures that Spanish-speaking clients receive a complete, in-language experience throughout their homeownership journey. This includes digital mortgage applications, customer service and loan officers fluent in Spanish, loan disclosures and servicing in Spanish, and the "Same Day Mortgage" product offered in Spanish.
Rate’s CEO, Victor Ciardelli, highlighted the company’s success with Spanish-language initiatives, noting a tripling of their Latino salesforce and a doubling of funded loan volume in Latino communities. "Now with the Rate App in Spanish, we’re giving Spanish-speaking buyers the same high-performance mobile experience that’s helped millions of homeowners, because language should never be what holds someone back," Ciardelli stated.
Arlyn Kalinski, SVP of Fair & Equitable Lending Strategies at Rate, emphasized that the app represents "equity in action." She explained that the app is not merely a translation but a "fully in-language journey designed to honor and empower the Spanish-speaking community at every step of homeownership." Kalinski further noted that Spanish-speaking buyers are often mobile-first and ambitious, driving the future of U.S. homeownership, and Rate’s app provides them with the same high-performance tools as any other customer.
Users can download the Rate app from both the Apple Store and Google Play. Spanish-speaking users can access the Spanish version by simply updating their phone’s language settings to Spanish.