For most people, owning a home is without doubt part of the American dream. However, with the forbidden real estate prices and the inability to access the credit needed, this dream seems to be just for a few. Thankfully, we have Patty Arvielo, Co-Founder and President of New American Funding, a first-generation Latina with 39 years of mortgage industry experience within the underserved communities.
Family-run and 100% owned by Patty and her husband, Rick Arvielo, New American Funding is one of the largest mortgage lenders to Black and Latino communities with over $33 billion in home loans. She told Forbes that she fell into this industry at the young age of 16. By the time she was 19, I was selling mortgages. By 25, she was a young mother of one with another on the way, managing the second biggest branch of the largest mortgage lender at the time. She felt passionate she could go to work, help people, and make money.
Her life took an abrupt turn by 30 when she faced the difficulties associated with being a single mother. But because what doesn’t kill you makes you stronger, that pain gave her the purpose she needed to go from being an employee to running an empire. And she didn’t just build an empire, she also found her business and life partner in the process.
New American Funding has been serving all the diverse cultures in the USA. Arvielo is a firm believer that diversity and inclusiveness need to be a direct core of your business.
“You must naturally evolve into creating a company with diverse voices around the table. These voices will take you to a whole other level.”
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