New American Funding, an independent and Latina-owned mortgage companies, and EasyKnock, the technology-enabled residential sale-leaseback platform, a announced a partnership that will offer programs that provide flexibility to American homeowners.
Through EasyKnock’s residential sale-leaseback programs, New American Funding offers new solutions that will provide equal opportunity for homeowners to access their home equity through credible and non-traditional means, helping them to stay in their communities and school systems, the companies said.
As a major lender to minorities in the U.S., New American Funding focuses on helping those in underserved communities buy a home and secure their financial future through unique programs and initiatives. These efforts have led the company to be a leader in lending to Hispanic and Black borrowers.
“We’ve built our business on helping people from all walks of life, and this partnership will allow us to take those efforts to the next level,” said Rick Arvielo, CEO and co-founder of New American Funding. “Through this partnership, we will expand our reach of people that we can help to remain in their homes and access equity for their financial planning. Working alongside EasyKnock, we hope to set our customers up for the future and establish a foundation for their success so they can work towards their goals.”
EasyKnock’s residential sale-leaseback programs provide an alternative means of realizing a benefit of homeownership — accessing the accumulated wealth in the home — often denied to homeowners who can’t or don’t want to take on additional debt. By selling their homes to EasyKnock and staying on as renters, customers convert their equity to cash, remain in their communities, and have the flexibility and control to repurchase the homes on their own timelines.
“Around a quarter of American homeowners cannot access their own equity in their homes because of strict lending restrictions, and we have teamed up with New American Funding to service these communities,” said Jarred Kessler, CEO and founder of EasyKnock. “Together, our mission is to improve housing stability for our mutual customers, providing them liquidity, flexibility and control in their finances. We’re excited about our alignment in purpose and value and look forward to seeing what we can do for American families through our conjoined efforts.”