Pathway Homes Secures $225M Credit Facility

Funding enables expansion of Pathway's mission to increase access to homeownership

DALLAS, Sept. 8, 2022 /PRNewswire/ -- Pathway Homes ("Pathway"), a real estate platform with a mission to create more homeowners, announced today that it has entered into a secured credit facility in the aggregate amount of $225 million, with Bank of America, acting as Administrative Agent and Sole Lead Arranger. This is Pathway's inaugural credit facility and includes an accordion feature that permits an increase in total commitments up to $475 million under certain conditions. The funds will be used to provide additional capacity to purchase homes and expand into new markets, enabling more people to reach homeownership.

Pathway offers innovative solutions to accelerate potential homeowners on the path from renting to homeownership. Buyers are routinely met with challenges during the homebuying process, with many excluded from the process due to income restraints, high credit score requirements or lack of savings. Pathway enables customers who would otherwise be shut out of ownership, allowing them to move into a home of their choice today and purchase the home in the future as they work toward their financial goals.

"At Pathway, we strive to make homeownership more attainable. We are focused on helping people realize the dream of homeownership, creating a sustainable and accessible path for our customers," said Josh Gould, Chief Executive Officer of Pathway. "With this funding, we are in a position to change more lives and make a greater impact for those looking to own a home and build generational wealth. We appreciate Bank of America's support and shared vision to increase access to homeownership."

Pathway addresses the challenges potential homeowners face in today's competitive market. Pathway helps potential buyers identify their ideal home, purchases it on their behalf, invests to improve the quality of the home, and then provides them with options to purchase the home in the future. In an agreement with the customer, Pathway establishes rent and home purchase option prices with fixed, modest annual increases, typically over a five-year term. Pathway serves as a long-term partner for potential buyers, providing individualized support on their way to homeownership.

"Since launching Pathway earlier this year, we have seen the significant benefit our offering can have in our customers' lives and the substantial demand for our products," said K.C. Cleary, Pathway Homes Co-Founder and Chief Strategy Officer. "These funds enable us to continue to meet the demand for homeownership for the millions of Americans who are priced out today."

Pathway Homes is currently available to consumers living in the Tampa, Orlando, Atlanta, Dallas, and Phoenix markets. With this funding, Pathway plans to expand its offering to additional markets across the U.S.

For details on Pathway Homes, or to get pre-qualified, visit www.yourpathway.com. Be sure to stay up-to-date on all housing and program news on Instagram, Facebook and LinkedIn.

About Pathway Homes

Pathway Homes is a real estate platform with a mission to create more homeowners. Pathway's innovative housing solutions provide consumers with different product offerings designed to bridge the gap between renting and owning. Pathway is backed by real estate industry leaders Regis, Invitation Homes and Fifth Wall, and combines best practices from residential real estate with proptech innovation. The Pathway team brings deep platform building experience and awareness of industry pain points. Pathway's products and team members support the customer at each step toward homeownership.