Guild, eHome America Offer Homebuyer Education Program

Guild Mortgage has partnered with eHome America to offer a new down payment and closing cost assistance program.

The program, MyPath2Own, helps first-time buyers become “mortgage ready” through homeownership education.

“MyPath2Own is an incredibly valuable program for those customers who may fall short in the financial criteria, such as credit score or income requirements, needed to qualify them for a mortgage,” said Erin Watts, vice president of product strategy at Guild Mortgage. 

“Not only can it help improve their financial position, but it provides the tools and resources that someone needs to not just purchase a home, but to be a responsible homeowner.”

Qualifying borrowers will also receive up to $4,000 in down payment or closing cost assistance.

It is geared towards Americans who are interested in purchasing a home but don’t qualify for a mortgage. Through financial counseling and education, they can change their path in just three steps, Guild says.

In the first, Guild LOs invite potential borrowers to enroll in the program. Next, eHome America provides online courses on topics such as money management. Borrowers also meet with a homebuying counselor.

“Our custom-made financial literacy course enables borrowers to step into homeownership with a clear understanding of their financial situation, including their income, expenses, and debts,” said Milt Sharp, president of eHome America. 

Finally, upon qualification for a mortgage, the borrower receives $4,000 in buyer assistance funds.

San Diego-based Guild Mortgage boasts more than 4,000 employees across more than 250 branches. The company has doubled down on an expansion mindset despite the market downturn, focusing on acquiring existing lenders and opening new branches.

It recently expanded its Gateway to Homeownership Assistance program, an initiative designed to help underserved borrowers achieve their homebuying dreams, as well as new reverse finance offerings geared towards seniors who hope to age in place.

eHome America is an interactive, web-based education program for prospective homebuyers that is linked to local nonprofit HUD-approved housing counseling agencies.