What is a CDFI?
A Community Development Financial Institution is a lender certified by the U.S. Treasury Department’s CDFI Fund for a mission of serving communities that mainstream finance often under-serves.
Pathway Equity, explained
Pathway Equity is a closed-end second mortgage program offered by a certified Community Development Financial Institution (CDFI) lending partner.
What is a closed-end second?
A closed-end second mortgage is a single loan, funded once, secured by the home behind the first mortgage. It differs from a home equity line of credit, which is a revolving line that can be drawn on over time.
Why it appears in the broker flow
Some home equity files do not fit a line of credit program. Instead of ending the conversation, the platform checks whether Pathway Equity may suit the borrower and prepares the package for the lender.
What it is not
It is not a guarantee, a pre-approval, or an offer. Eligibility, terms and any decision come only from the lender after a person reviews the complete file.