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Guild Mortgage Upgrades 3-2-1 Home Plus Program to Open More Doors for First-Time Homebuyers

Customers Can Purchase Home with 3% Down; Guild Provides $2,000 Gift Card Plus $1,000 – $2,500 Toward Closing

San Diego – Oct. 6, 2022 — Guild Mortgage (NYSE: GHLD), a growth-oriented mortgage lending company originating and servicing residential loans since 1960, has upgraded 3-2-1 Home, its innovative mortgage program designed to provide first-time homebuyers with a low-down payment option and flexibility to make the home their own.

Guild’s latest 3-2-1 Home Plus program enables customers to purchase a home with as little as 3% down. As part of the program, Guild provides a $2,000 Home Depot Gift Card plus additional assistance ranging from $1,000 to $2,500, based on Area Median Income (AMI) and property type, which can be applied toward closing costs or increase the down payment.

Unlike other low-down payment programs, the 3% down payment program through Guild can be funded by a gift, such as a wedding or graduation present. To qualify, borrowers must have a minimum credit score of 620. The program is available to first-time homebuyers in the 49 states where Guild operates and the District of Columbia, for the purchase of single-family residences, condos and manufactured homes.

“We are constantly looking for innovative ways to serve first-time homebuyers, especially with so many struggling to afford a down payment or find a home that suits their needs in today’s competitive housing market,” said Guild CEO, Mary Ann McGarry. “We introduced the original 3-2-1 Home program in 2018, helping thousands of first-time homebuyers. With our new 3-2-1 Home Plus program, the increased assistance means our clients receive up to $2,500 toward closing costs, helping them get into homes while preserving their cash resources.”

David Battany, Guild Mortgage’s executive vice president of capital markets, said 3-2-1 Home Plus helps ease financing challenges for first-time buyers with low-to-moderate incomes, while providing flexibility to purchase a home they may not otherwise consider.

“In many cases, a first-time buyer might pass on a property that needs a few upgrades,” he said. “The Home Depot Gift Card provides a sense of security. The customer can purchase a home in an area they love and make those upgrades, whether it’s for new flooring, fresh coats of paint, or landscaping. They can also choose a new water heater, washer and dryer, energy efficient windows, design services or any other product or service offered by The Home Depot.”

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Headquartered in San Diego, Guild Mortgage is a leading national lender with an established history of offering a comprehensive array of loan products and partnering with government organizations to help deliver the promise of home in every neighborhood and community. Its loan professionals can serve the needs of any homebuyer, from helping first-time buyers achieve homeownership, often through government loan programs, to homebuyers looking for a jumbo loan. Guild also helps active duty and retired military personnel who qualify for VA loans with 100% financing and flexible qualifying standards. The company is consistently recognized for its impact in the communities it serves, commitment to customer service, strength in regulatory compliance, and workplace culture.

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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.