How this family bought their first home in a red-hot housing market

September 01, 2018

During Hispanic Heritage Month, U.S. Bank is recognizing Latinos helping one another realize their aspirations.

In a red-hot housing market like Los Angeles, Crystal and Richard Arcineda knew they would need to be super-prepared to buy their first home – or else they would be outmaneuvered by buyers with financing already in hand.

Across California, sellers often receive multiple offers on the day the home is listed. So, the Arcinedas worked with U.S. Bank Mortgage Loan Officer William Ruiz to get pre-approved for a mortgage before they began hunting.

“Working with William and U.S. Bank helped us show sellers we were more committed and serious,” Richard said. 

The Arcinedas saw a house listed in Brea, a community in Orange County. They immediately went to see it and, although it needed some sprucing up, decided it was the right home for them and their soon-to-be 3-year-old son, Winston. 

The couple put in an offer but the sellers wanted to have an open house that weekend to see what other offers they would receive. After an anxious weekend, the sellers accepted the Arcinedas’ offer (along with several back-up contracts) and they closed on the three-bedroom home in just over a month.

“It was a team effort and it went pretty quickly,” Richard said. “Everybody was happy.”

U.S. Bank’s Ruiz said helping the family buy their first home shows the power of working closely with clients to answer their questions, prepare their paperwork and ensure they are the most desirable bidders when they make an offer.

“You have to be patient with families and understand their needs,” Ruiz said. “You have to shake hands and sit down and get to know each other. It also helps to be part of community groups like National Association of Hispanic Realtors.”

Ruiz takes great joy from helping families, especially fellow Latinos, reduce their stress while working to obtain home financing. Ruiz came to the U.S. with a permanent visa as a teenager from his native El Salvador and knows how hard it can be for new immigrants to assimilate.

Ruiz’s passion comes from going through the same process with his wife 12 years ago when they were searching for their first home. He knows first-hand the struggles and the joy of creating his own version of the American Dream.

“It is simply an honor helping these families,” he said.