New American Rolls Out First-Time Homebuyer Grants

New American Funding is launching a new initiative for first-time homebuyers. Officials at the company announced the Pathway to Homeownership program on Monday.  Qualified borrowers in select areas can receive up to $8,000 in assistance to help them buy a new home. The money distributed through Pathway to Homeownership is a grant, not a loan. Those who receive it do not need to pay it back, according to the announcement. “One of the pillars of our company is helping members of underserved communities become homeowners,” said Patty Arvielo, Co-Founder and President of New American Funding. “The Pathway to Homeownership initiative helps people from all walks of life who are otherwise qualified clear the initial hurdles that come with buying a…