NEW YORK--(BUSINESS WIRE)--My Home Pathway, an app that helps users improve their financial health and navigate the mortgage loan process, launches nationwide. The app is geared towards helping millions of Americans who are denied for a mortgage.
Every year, 2 million Americans are denied for a loan. According to urban.org, the homeownership rate among millennials ages 25 to 34 is 8% lower than baby boomers and 8.4% lower than Gen Xers. The mortgage denial rate for Black and Hispanic individuals increases to 20.9% and 15% respectively. Only 44% of Black households own homes, compared with nearly 74% of white households.
Through an exclusive Home Readiness Report, personalized guidance and an integrated loan pre-approval process, My Home Pathway’s mission is to teach users how to build wealth through education, train them to improve financial habits through an intuitive user interface and unique recommendation engine, and achieve financial freedom through home ownership.
To kick off, My Home Pathway is partnering with First Republic Bank as the premier launch and marketing outreach partner. First Republic will be piloting outreach for their Eagle Community Home Loan Program, inclusive of a broader range of available mortgage products, in partnership with My Home Pathway exclusively in the Northern California region.*
First Republic’s Eagle Community Home Loan Program features competitive rates and is designed to help more individuals become homeowners. This program offers very attractive terms for buying or refinancing a primary residence in their designated areas.
"We believe that regardless of where you start - credit score, student loans, or how much wealth you come from - anyone can own a home. We believe in the power of financial literacy and providing everyone with the opportunity to improve their financial behaviors," says Castleigh Johnson, Founder & CEO.
About My Home Pathway
My Home Pathway exists to help a new generation to break financial limitations through homeownership 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 broker services to First Republic Bank. First Republic Bank’s partnership with MHP is limited to marketing outreach. Any lending options provided by First Republic Bank to clients are subject to the Bank’s policies and procedures. First Republic Bank is an Equal Housing Lender.