Long-term purchase contract solution now helps more borrowers achieve homeownership

National affordable housing innovator Arrive Home has enhanced qualifications for its Earned Equity Program to help responsible borrowers with temporary U.S. Visas and valid Employment Authorization Documents purchase a home.

First launched in April 2023, Arrive Home’s Earned Equity Program is designed to assist prospective homebuyers who do not qualify for a traditional mortgage. The program enables participants to enter into a homeownership agreement with monthly payments controlled by a 40-year Homeownership Agreement. This allows them to use and enjoy the home as their own, while building equity with the intention of eventually transitioning to more traditional financing once they’ve improved their credit rating and eliminated other obstacles.

Now, under these improved underwriting guidelines, lenders working with Arrive Home can assist a large segment of prospective borrowers who are residing legally in the U.S., have valid Employment Authorization Documents, and have proof of their ability to repay. Borrowers must also have a credit score of 600, two years' worth of documented income history, and a documented 12-month housing history.

The expanded underwriting guidelines follow the launch of two new iterations of Arrive Home’s Earned Equity Program – EEP Pathway for ITIN and certain Visa status individuals, and EEP DocLight for gig workers, first-time buyers and those who may not have qualified for a mortgage under traditional FHA guidelines.

Thanks to its innovative solutions, including EEP and its down payment assistance program, Arrive Home has helped nearly 15,000 Americans achieve homeownership in the three years since its inception, expanding its team 20-fold to accommodate demand. Now, the company works with seven of the top 10 major mortgage lenders in the U.S.

“Arrive Home remains steadfast in its mission to pioneer innovative credit solutions that open doors for responsible borrowers who do not fit the traditional mold,” said Shawn King, Executive Vice President of National Sales and a co-founder of Arrive Home. “By expanding our EEP underwriting guidelines to support thousands of qualified borrowers working in the U.S. on valid Visas, we’re creating new opportunities for homeownership and responding to growing demand from lenders looking to expand their customer base.”

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.

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"Arrive Home remains steadfast in its mission to pioneer innovative credit solutions that open doors for responsible borrowers who do not fit the traditional mold.” -Shawn King, Executive Vice President of National Sales and a co-founder of Arrive Home