American Financial Group Prospers by Serving the Hispanic Community

“American Financial Group has achieved great success in today’s challenging mortgage environment by working with the Hispanic Community.

According to the National Association of Realtors the number of Latino home owners in the U.S. vaulted a staggering 81 percent between 1995 and 2005.

Ironically, American Financial Group’s Co-Founder, Vince Tran, is a Vietnamese immigrant. Tran arrived in Orange County as a young man who did not speak English and was virtually penniless. Because of that background the Company has its roots in the minority community, and has always been very sensitive in serving the unique needs of local immigrant communities including the Hispanic community.

Approximately half of American Financial Group’s loan officers speak Spanish. Many of American Financial Group’s Latino Loan officers worked their way up in the organization and have become very successful. A large proportion is women. One 25-year-old Hispanic loan officer retired her mother last year and pays her a salary to take care of her young daughter.

The Company operates on a “customer for life” relationship business model which appeals to the Hispanic community. Hispanic mortgage consumers prefer a bricks-and-mortar operation where they can come in and meet their loan officer in person and develop a relationship. They do not embrace utilizing the Internet as their primary way to find their mortgage needs.

“We believe in developing long-term relationships versus individual transactions,” said Tran. “That has been the reason for our success. American Financial Group generates its business from referrals from existing and previous customers and from local real estate professionals.”

The Hispanic mortgage consumer has other unique differences. First-time Hispanic home owners tend to be older as it takes them longer to acquire the necessary down payment.

American Financial Group helps Hispanic borrowers understand all the requirements in purchasing a home and leverages its 18 plus years of experience to help borrowers address all of the home buying requirements so that they can purchase their piece of the “American Dream.”

“Targeting the Hispanic community has helped us grow. It’s been good for our Hispanic customers, our Hispanic loan officers and the Company,” said Tran. “We definitely are committed to the Hispanic market and further establishing our leadership position in the market.””

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