Yellow home in neighborhood

06/10/2024

Guild Mortgage expands support to California wildfire victims with new homebuyer assistance program

  • Guild Mortgage is one of a few lenders picked to distribute assistance funds to fire victims
  • Eligible residents can get up to $350,000 down payment assistance
  • Builds on Guild’s dedication to help deliver the promise of home

San Diego – June 10, 2024 – Guild Mortgage, a growth-oriented mortgage lending company originating and servicing residential loans since 1960, will help distribute $28 million in homebuyer assistance funds to families and individuals impacted by the devastating California wildfires and other declared disasters of 2018 and 2020.

The Golden State Finance Authority (GSFA) launched the ReCoverCA homebuyer assistance program with a grant from the California Department of Housing and Community Development to help boost homeownership for victims who were not able to rebuild. Guild Mortgage is one of the first few lenders selected to offer the down payment assistance program which includes:

  • Up to $350,000 down payment assistance on a five-year forgivable loan
  • 0% rate with no monthly payments
  • Flexibility to use towards down payment and closing costs

“While we are nation-wide lender, California is our home state which makes our selection for this grant program even more meaningful,” said Mike Ferriera, Regional Vice President for Guild Mortgage. “We have been actively working to support the victims of these natural disasters for years and this is just the latest step in helping provide a fresh start with long-term housing in areas with a reduced fire-risk.”

As a part of this new grant, homeowners will be restricted from buying homes in areas deemed a “fire hazard” area. This includes the community of Paradise, California where Guild Mortgage is actively making homeownership more attainable through an alternate program – “Making Paradise Home.”

Guild Mortgage partnered with Clayton, Golden West Homes of Chico, and Redline Installation to build multiple CrossMod Homes to benefit the community. The project aims to educate, promote affordable homeownership, and lend a hand in rebuilding the community.

Visit our website for complete details on the “Making Paradise Home” initiative.

Media contact:

Megan Strader

Guild Communications Director

[email protected]

319.775.2107

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About the Author: Guild Mortgage

Founded in 1960 when the modern U.S. mortgage industry was just forming, Guild Mortgage Company is a nationally recognized independent mortgage lender providing residential mortgage products and local in-house origination and servicing. Guild’s collaborative culture and commitment to diversity and inclusion enable it to deliver a personalized experience for each customer. With more than 4,000 employees and over 250 retail branches, Guild has relationships with credit unions, community banks, and other financial institutions and services loans in 49 states and the District of Columbia. Guild’s highly trained loan professionals are experienced in government-sponsored programs such as FHA, VA, USDA, down payment assistance programs and other specialized loan programs. Guild Mortgage Company is a wholly owned subsidiary of Guild Holdings Company, whose shares of Class A common stock trade on the New York Stock Exchange under the symbol GHLD.