Latest news with #ArriveHome
CNBC
a day ago
- Business
- CNBC
Is the Guild 1% Down mortgage right for you?
One of the largest home loan providers in the U.S., Guild Mortgage originated over 75,000 mortgages in 2024. The San Diego-based fintech company's flexible credit requirements and generous down payment assistance programs are some of the reasons it landed on CNBC Select's lists of the best mortgage companies and best lenders for a small down payment. One great option Guild has for lower-income homebuyers is the 1% Down mortgage. Borrowers who meet income requirements and have a 1% down payment are eligible for an additional 2% from Guild in the form of a non-repayable grant, up to $5,000. Unlike similar programs from competitors, the 1% Down loan is available to both first-time and repeat buyers with no location restrictions. Apply online for rates. Conventional, FHA, VA, USDA, Arrive Home, Zero Down, jumbo, renovation, refinancing, reverse mortgages, home equity loans 10 to 30 years 540 for FHA, VA and USDA loans; 600 for Zero Down; 620 for conventional loans, 680 for jumbo loans. Nontraditional credit options available 0% for USDA, VA, Arrive Home™ or Zero Down; 1% for conventional loans, 3.5% for FHA loans Approved borrowers with a 1% down payment will get another 2% from Guild in the form of a non-repayable grant. That automatically lets them meet the 3% down payment requirement for conventional loans set by Fannie Mae and Freddie Mac. Applicants may also be eligible for a lender-paid temporary buydown, which covers a portion of their interest for a set period, thereby keeping monthly payments lower initially. Although Guild is not licensed to lend in New York, first-time and repeat homebuyers in every other state can qualify. Income: Up to 80% of the area median incomeCredit score: 620 (other credit sources considered)Other requirements: Must be for a single-family home and borrowers must complete a homebuyer education course Guild's 1% Down loan is a great choice for households earning up to 80% of the area median income. Unlike a number of other down payment assistance programs, it's not limited to first-time buyers or low-to-moderate-income (LMI) census tracts. Since Guild considers alternate credit sources (including on-time utility payments), it's also a strong contender if your credit history is thin or you have a nontraditional income source. You should also consider the loan if you're in a hurry: Guild's Homebuyer Express guarantee means you'll close within 17 days or be eligible for a $500 closing cost rebate (not available in Oregon). Guild has a mixed record with customer satisfaction, though: While it received an A+ from the Better Business Bureau and scored above average for customer satisfaction on J.D. Power's 2024 mortgage servicing survey, it scored below average for origination. There are also inherent drawbacks in making a small down payment: If you don't qualify for the 1% Down program, Guild has other loans with down payment assistance: The Zero Down loan combines a 3.5% FHA loan with a forgivable second mortgage, effectively reducing your down payment to zero. Plus, you only need a 600 credit score to get approved. Guild's Arrive Home loan is another zero-down option available to borrowers who earn as much as 160% of the median income in their area. Looking at other lenders, only requires 1% down, while borrowers can be approved for Citibank's HomeRun mortgage and Chase Bank's DreaMaker loan with as little as 3% down. Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.10-, 15- and 30-year fixed-term conventional loans, 30-year VA and FHA loans, custom mortgages with fixed-rate terms from 8 to 29 years.6200% for VA, 1% for RocketONE+, 3% for conventional, 3.5% for FHA, 10% to 15% for jumbo10 – 30 years6203% for DreaMaker℠ or Standard Agency loan FHA loans: Backed by the Federal Housing Authority, these mortgages only require 3.5% down if you have a 580 credit score or better. USDA loan: The U.S. Department of Agriculture guarantees zero-down home loans to borrowers buying in select rural and suburban areas and earning up to 115% of the AMI. VA loan: These zero-down-payment mortgages, backed by the Department of Veteran Affairs are available to active duty service members, reservists and veterans. HomeReady: You only need a down payment of 3% down with this Fannie Mae-backed mortgage. Borrowers must earn no more than 80% of the area median income and have a credit score of at least 620. Home Possible: You only need a down payment of 3% down with this Freddie Mac-backed mortgage. Borrowers must earn no more than 80% of the area median income and have a credit score of at least 620. Founded in 1960, San Diego-based Guild Mortgage is a legitimate lender with 740 branches in 46 states. It's licensed nationwide except in New York and, in 2024, approved 75,356 mortgages totalling $23.2 billion. Guild Mortgage requires score of 620 for a conventional mortgage, 1% Down and Arrive Home loan and a 600 to qualify for its Zero Down loan. Guild accepts scores of 540 for FHA, VA and USDA mortgages and 680 for jumbo loans, lower than many other lenders. Ranked No. 4 on J.D. Power's 2024 survey of mortgage servicers, Guild Mortgage claims it services the majority of the loans it originates. According to the Guild website, "We're your loan partner throughout the life of the loan." Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every mortgage review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of mortgage products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. CNBC Select reviews mortgage products using a variety of criteria, including average rates, eligibility requirements, available terms, fees, nationwide availability, online experience and customer satisfaction. We also incorporate findings from independent sources, including lender scores from J.D. Power's mortgage origination and servicer surveys and ratings from the Better Business Bureau.
Yahoo
28-05-2025
- Business
- Yahoo
Arrive Home Launches Two New Earned Equity Products
Long-term purchase contract solution provides alternative paths toward homeownership for specific borrower groups SALT LAKE CITY, May 28, 2025--(BUSINESS WIRE)--National affordable housing innovator Arrive Home has launched two new iterations of its Earned Equity Program as part of its continued mission to expand access to homeownership for underserved borrowers. Arrive Home's Earned Equity Program, which helps more consumers achieve their homeownership goals through a long-term purchase contract, is now available in two separate products designed for two different groups of borrowers. EEP Pathway is ideal for ITIN and certain Visa statuses individuals who may be solid long-term renters looking to move on to homeownership. The program, which follows FHA guidelines with enhancements for accessibility, does not require a Social Security Number or FICO score and has flexible guidelines for the self-employed. Using EEP Pathway, lenders can serve ready-to-buy borrowers with confidence. EEP DocLight is designed to help gig workers, first-time buyers and those who may not have qualified for a mortgage under traditional FHA guidelines. The program assesses borrowers using FormFree's RIKI tool for smart, flexible income and asset verification. EEP DocLight's asset-based risk model reviews P&L or bank statements but does not require tax returns or a FICO score, making it a solid choice for non-traditional earners looking to buy a home. Arrive Home first launched its innovative Earned Equity Program in 2023. The program enables participants to enter into a homeownership agreement with monthly payments controlled by a 40-year Homeownership Agreement Amortization Schedule. This allows them to use and enjoy the home as their own, with the intention of eventually buying or assuming the property. At any time during the term of the purchase contract, the participant may buy the home at a price that was fixed when the contract was signed. During the term, the customer has time to improve their credit rating and eliminate other obstacles preventing them from qualifying for a home, eventually buying the property outright using a traditional mortgage loan. Since its launch, the EEP Program has found tremendous success with mortgage lenders looking to serve borrowers previously locked out of homeownership. Now, by designing two EEP iterations intended to cater to different borrower profiles, Arrive Home can help its lender partners reach more underserved borrowers while simplifying the process for all parties involved. "Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership," said Arrive Home Chief Communications Officer Tai Christensen. "By bifurcating the program, we're helping lenders identify potential borrowers who stand to benefit from EEP's innovation and flexibility." About Arrive Home Arrive Home is a national affordable housing program in the lending space that offers down payment assistance and innovative credit solutions for responsible borrowers across communities. Arrive Home is dedicated to increasing homeownership by working with governmental entities, mortgage lenders and nonprofit groups to offer creative and diverse mortgage products that are designed to enable correspondent lenders to confidently deliver loans to reliable borrowers. In doing so, Arrive Home aims to increase access to homeownership for credit worthy, low- to moderate-income American families, creating generational change one home at a time. View source version on Contacts Press Contact Jacob Gaffneyjacob@ 817.471.7627
Yahoo
28-05-2025
- Business
- Yahoo
Arrive Home Launches Two New Earned Equity Products
Long-term purchase contract solution provides alternative paths toward homeownership for specific borrower groups SALT LAKE CITY, May 28, 2025--(BUSINESS WIRE)--National affordable housing innovator Arrive Home has launched two new iterations of its Earned Equity Program as part of its continued mission to expand access to homeownership for underserved borrowers. Arrive Home's Earned Equity Program, which helps more consumers achieve their homeownership goals through a long-term purchase contract, is now available in two separate products designed for two different groups of borrowers. EEP Pathway is ideal for ITIN and certain Visa statuses individuals who may be solid long-term renters looking to move on to homeownership. The program, which follows FHA guidelines with enhancements for accessibility, does not require a Social Security Number or FICO score and has flexible guidelines for the self-employed. Using EEP Pathway, lenders can serve ready-to-buy borrowers with confidence. EEP DocLight is designed to help gig workers, first-time buyers and those who may not have qualified for a mortgage under traditional FHA guidelines. The program assesses borrowers using FormFree's RIKI tool for smart, flexible income and asset verification. EEP DocLight's asset-based risk model reviews P&L or bank statements but does not require tax returns or a FICO score, making it a solid choice for non-traditional earners looking to buy a home. Arrive Home first launched its innovative Earned Equity Program in 2023. The program enables participants to enter into a homeownership agreement with monthly payments controlled by a 40-year Homeownership Agreement Amortization Schedule. This allows them to use and enjoy the home as their own, with the intention of eventually buying or assuming the property. At any time during the term of the purchase contract, the participant may buy the home at a price that was fixed when the contract was signed. During the term, the customer has time to improve their credit rating and eliminate other obstacles preventing them from qualifying for a home, eventually buying the property outright using a traditional mortgage loan. Since its launch, the EEP Program has found tremendous success with mortgage lenders looking to serve borrowers previously locked out of homeownership. Now, by designing two EEP iterations intended to cater to different borrower profiles, Arrive Home can help its lender partners reach more underserved borrowers while simplifying the process for all parties involved. "Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership," said Arrive Home Chief Communications Officer Tai Christensen. "By bifurcating the program, we're helping lenders identify potential borrowers who stand to benefit from EEP's innovation and flexibility." About Arrive Home Arrive Home is a national affordable housing program in the lending space that offers down payment assistance and innovative credit solutions for responsible borrowers across communities. Arrive Home is dedicated to increasing homeownership by working with governmental entities, mortgage lenders and nonprofit groups to offer creative and diverse mortgage products that are designed to enable correspondent lenders to confidently deliver loans to reliable borrowers. In doing so, Arrive Home aims to increase access to homeownership for credit worthy, low- to moderate-income American families, creating generational change one home at a time. View source version on Contacts Press Contact Jacob Gaffneyjacob@ 817.471.7627
Business Wire
28-05-2025
- Business
- Business Wire
Arrive Home Launches Two New Earned Equity Products
SALT LAKE CITY--(BUSINESS WIRE)--National affordable housing innovator Arrive Home has launched two new iterations of its Earned Equity Program as part of its continued mission to expand access to homeownership for underserved borrowers. Arrive Home's Earned Equity Program, which helps more consumers achieve their homeownership goals through a long-term purchase contract, is now available in two separate products designed for two different groups of borrowers. 'Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership." Share EEP Pathway is ideal for ITIN and certain Visa statuses individuals who may be solid long-term renters looking to move on to homeownership. The program, which follows FHA guidelines with enhancements for accessibility, does not require a Social Security Number or FICO score and has flexible guidelines for the self-employed. Using EEP Pathway, lenders can serve ready-to-buy borrowers with confidence. EEP DocLight is designed to help gig workers, first-time buyers and those who may not have qualified for a mortgage under traditional FHA guidelines. The program assesses borrowers using FormFree's RIKI tool for smart, flexible income and asset verification. EEP DocLight's asset-based risk model reviews P&L or bank statements but does not require tax returns or a FICO score, making it a solid choice for non-traditional earners looking to buy a home. Arrive Home first launched its innovative Earned Equity Program in 2023. The program enables participants to enter into a homeownership agreement with monthly payments controlled by a 40-year Homeownership Agreement Amortization Schedule. This allows them to use and enjoy the home as their own, with the intention of eventually buying or assuming the property. At any time during the term of the purchase contract, the participant may buy the home at a price that was fixed when the contract was signed. During the term, the customer has time to improve their credit rating and eliminate other obstacles preventing them from qualifying for a home, eventually buying the property outright using a traditional mortgage loan. Since its launch, the EEP Program has found tremendous success with mortgage lenders looking to serve borrowers previously locked out of homeownership. Now, by designing two EEP iterations intended to cater to different borrower profiles, Arrive Home can help its lender partners reach more underserved borrowers while simplifying the process for all parties involved. 'Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership,' said Arrive Home Chief Communications Officer Tai Christensen. 'By bifurcating the program, we're helping lenders identify potential borrowers who stand to benefit from EEP's innovation and flexibility.' About Arrive Home Arrive Home is a national affordable housing program in the lending space that offers down payment assistance and innovative credit solutions for responsible borrowers across communities. Arrive Home is dedicated to increasing homeownership by working with governmental entities, mortgage lenders and nonprofit groups to offer creative and diverse mortgage products that are designed to enable correspondent lenders to confidently deliver loans to reliable borrowers. In doing so, Arrive Home aims to increase access to homeownership for credit worthy, low- to moderate-income American families, creating generational change one home at a time.
Yahoo
11-03-2025
- Business
- Yahoo
Arrive Home President Tai Christensen Makes Inc.'s Female Founders 500 List
Affordable housing advocate named among nation's top women in business SALT LAKE CITY, March 11, 2025--(BUSINESS WIRE)--National affordable housing innovator Arrive Home is thrilled to announce that its president, Tai Christensen, has made Inc.'s 2025 list of 500 Female Founders. Now in its eighth year, Inc.'s award recognizes women whose innovations and ideas are leading industries forward. Inc. said that each year, its editors review thousands of applications highlighting female founders who are challenging the status quo and tackling some of the world's biggest problems, and cull applicants through three rounds of judging, looking specifically at an entrepreneur's bona fides in the past year. Criteria include quantifiable metrics such as revenue, sales, revenue growth, funding, and audience size. Inc. also looks for qualitative metrics including social media momentum and stories of impact. Christensen stood out for her commitment to bringing innovative housing solutions to market that address the nation's growing affordability crisis. A 20-year mortgage industry veteran, Christensen co-founded Arrive Home in 2022 with a mission to provide alternative credit solutions to borrowers who do not fit the traditional credit mold. The company aims to help responsible borrowers in underserved communities through down payment assistance and its Earned Equity Program, a long-term purchase contract for consumers who are unable to obtain traditional financing. Through Arrive Home, Christensen works with governmental entities, lenders and nonprofits to offer mortgage products designed to enable correspondent lenders to confidently deliver loans to reliable borrowers who qualify under FHA guidelines. "I am honored to make Inc.'s list of women who are making a difference in business and whose work is providing critical solutions for real issues affecting everyday Americans," said Christensen. "Lack of housing affordability is a growing crisis, and it's imperative that those working in the lending space right now challenge themselves to bring creative ideas to market. At Arrive Home, we are committed to finding solutions to help underserved borrowers achieve their homeownership goals." Inc. said this year's honorees "expressed grit and drive to collectively attract approximately $9 billion in 2024 revenue and $10.6 billion in funding." "Female founders know what struggle is, but they're also experts of improvisation, adaptability, and creativity. The women featured on this year's list exemplify these qualities," said Inc. executive editor Diana Ransom. "Through times of uncertainty, their unwavering dedication and steadfast leadership are not only inspiring but vital to driving progress." About Arrive Home Arrive Home is a national affordable housing program in the lending space that offers down payment assistance and innovative credit solutions for responsible borrowers across communities. Arrive Home is dedicated to increasing homeownership by working with governmental entities, mortgage lenders and nonprofit groups to offer creative and diverse mortgage products that are designed to enable correspondent lenders to confidently deliver loans to reliable borrowers. In doing so, Arrive Home aims to increase access to homeownership for credit worthy, low- to moderate-income American families, creating generational change one home at a time. View source version on Contacts Press Contact Jacob Gaffneyjacob@ 817.471.7627
