One year later: How BMO helped Mayra and Fidel turn a dream into a legacy

At BMO, helping families achieve homeownership is part of how we help clients make real financial progress. Through programs like the Welcome Home Grant and partnerships with community organizations, we’re turning dreams into reality. Just ask Mayra and Fidel, who celebrated their first year as homeowners after closing on their Richmond, California home with only $0.70 to pay out of pocket at closing. 

For years, Mayra and her husband Fidel dreamed of giving their children a place of their own. Renting while watching prices climb and facing inflation after the pandemic made homeownership feel impossible.  

“We knew we could afford a mortgage,” Mayra said. “But saving enough for the down payment and closing costs felt impossible.” 

That changed when Mayra learned about BMO’s affordable lending solutions through a local first-time homebuyer workshop. With BMO’s $13,000 Welcome Home grant, combined with community resources from SparkPoint Richmond and the Community Housing Development Corporation (CHDC), the couple discovered a path forward. 

“Helping families achieve homeownership isn’t just my job—it’s my mission. Down payment assistance programs and homebuyer grants like BMO Welcome Home and Neighborhood LIFT turn dreams into reality and seeing families create generational wealth is the most rewarding part of what I do.” 

- Cesar Pulido, BMO mortgage banker 

Cesar guided the family through every step—answering questions promptly and providing support in both English and Spanish.  

“He made us feel safe – that mattered,” Mayra said.  

With layered assistance programs from CHDC via Neighborhood LIFT, BMO, CalHFA and a seller credit, Mayra and Fidel were able to cover nearly all costs. On Jan. 29, 2025, they closed on their Richmond home with just $0.70 in closing costs needed to be paid. 

“Even the escrow officer couldn’t believe it,” Mayra said with a smile. Now, one year later, Mayra reflects on what homeownership means: “It’s been life changing. Coming home and knowing this is OUR home is amazing. Knowing that the mortgage we pay each month is to pay down our own home is so rewarding. The biggest surprise has been that being a homeowner is not as hard as some picture it,” Mayra said. “The biggest lesson is knowing that our money doesn’t go to waste.” 

Their favorite memories in their new home have been family gatherings, birthdays and holidays—moments filled with laughter and love in a space that truly belongs to them.  

For Mayra and Fidel, homeownership is more than a house—it’s stability, generational wealth and proof that with the right support, dreams can become reality. 

Ready to take the first step toward homeownership? 

Discover how BMO helps first-time buyers achieve their dreams with our Welcome Home grant and other affordable lending solutions. And to learn more about how BMO is supporting Latino families in building stability and generational wealth, visit BMO.com.