Link Home Loan provides a new way to safely originate loans for customers, without increasing risks for lenders.

Down payment assistance programs solve many challenges to bridge the affordable housing gap.  Unfortunately, many across America, including self-employed borrowers, gig workers, those with lower credit scores and households with higher qualifying incomes but lacking down payment funds are left out.  Meanwhile, housing prices continue to climb creating an even wider gap in both affordability and racial equity.  Traditional mortgages and those sponsored by federal and state governments aren’t making a significant difference.

Enter the Link Home Loan, a wraparound mortgage with a 40-year term using an OwnOption Mortgage provided by Trio, a leader in innovative home financing solutions.  The Link Home Loan combines the expertise of Trio, its local, state and federal government partners and progressive mortgage lenders like Essex Mortgage of Orange, CA to help bridge the gap.  A Link Home Loan delivers more accommodating underwriting standards helping lenders finance a broader set of households in their communities. 

A Link Home Loan provides 100% LTV financing for borrowers with credit scores down to 580, with exceptions to 550.  No long-term seasoning is required for new careers, new businesses or supplemental income – like gig workers.  Business owners can document their qualified income through bank statements and profit & loss statements vs. tax returns.  Plus, qualification is simple using Trio’s automated underwriting system.  Simply upload your mortgage application and receive an automated decision within minutes.  Interest rates and lender compensation are similar to down payment assistance programs.

Darryl Lewis, Managing Director of Trio says “A Link Home Loan is the next evolution in Trio’s line of innovative home financing programs.  Since our FHA OwnOption product began in 2016, we have had no defaults and zero delinquencies on our lender-serviced FHA portfolio.  Using a wraparound mortgage with our FHA OwnOption product takes us to the next level of service to our lenders and provides direct homeownership to our customers.”

Trio’s successful OwnOption Mortgage product has proven that thinking outside the box while using fundamentally sound financing methods can effectively solve today’s housing issues. OwnOption Mortgages are now accessible in most major markets across America.  Over 80% of Trio’s customers are minorities and small business owners proving that innovative solutions can help make a dent in our traditional racial inequity in mortgage financing.

According to Morgan Stanley, equalizing Black-White homeownership rates over the next 10 years would create more than 5 million more homeowners of color, generate nearly 800,000 new long-term jobs, and raise up to $400 million in additional tax revenues relative to current trends.  Help Trio and its partners do our part by equalizing racial equity through offering Link Home Loans.

Link Home Loans are available for correspondent origination through Essex Mortgage.  Join the over 120 lenders now offering Trio’s products and help more households in the communities you service become homeowners today.

“Link is a game-changer for lenders across the country. While innovation requires educating everyone involved, it is worth the extra time to specialize in helping more diverse members of our community become homeowners. Originating the OwnOption Mortgage allows us to do just that,” says Roland Weedon, President of Essex Mortgage.

“I am excited about the Link program because it helps lenders tap into a potential market of homebuyers who want to own a home but just need the right roadmap, especially in communities of color. This is a resource lenders now have available to support their multicultural markets,” says Tony Thompson, CMB, Founder/CEO of NAMMBA.

NAMMBA members receive discounts as a membership benefit.  To find out more go to mylinkloan.com, email essex@mylinkloan.com or call 214.412.8585 and ask for Jon Grafflin.