My Home Pathway App Guides New Homeowners on Their Path to a Mortgage
NEW YORK–(BUSINESS WIRE) – My Home Pathway, an app that helps users improve their financial health and navigate the mortgage process, is launched nationwide. The app aims to help millions of Americans who are denied a mortgage.
Every year, 2 million Americans are denied a loan. According to urban.org, the homeownership rate among millennials aged 25 to 34 is 8% lower than baby boomers and 8.4% lower than Gen X. The refusal rate Mortgage loan for black and Hispanic people increases to 20.9% and 15% respectively. Only 44% of black households own a home, compared to nearly 74% of white households.
Through an exclusive home readiness report, personalized advice, and an integrated loan pre-approval process, My Home Pathway’s mission is to teach users how to build wealth through l education, train them to improve their financial habits through an intuitive user interface and a unique recommendation engine, and achieve financial freedom through home ownership.
To begin with, My Home Pathway is partnering with First Republic Bank as the premier launch and marketing partner. First Republic will drive awareness for its Eagle community home loan program, comprising a wider range of mortgage products available, partnering with My Home Pathway exclusively in the Northern California area. *
First Republic’s Eagle Community Home Loan Program offers competitive rates and is designed to help more people become homeowners. This program offers very attractive conditions for the purchase or refinancing of a primary residence in their designated areas.
“We believe that no matter where you start – your credit score, student loans, or how much wealth you have – anyone can own a home. We believe in the power of financial literacy and empowering everyone to improve their financial behaviors, ”said Castleigh Johnson, Founder and CEO.
About My Home Pathway
My Home Pathway exists to help a new generation overcome the financial limitations of home ownership and is part of the Antler Global portfolio, among others. For more information visit www.myhomepathway.com. Download for Apple or Android.
* MHP does not provide loan brokerage services to First Republic Bank. First Republic Bank’s partnership with MHP is limited to marketing awareness. All loan options offered by First Republic Bank to customers are subject to the Bank’s policies and procedures. First Republic Bank is an Equal Housing Lender.