EEP Power Up Series - Deal Desk Thursday - October 30th, 2025

Trevisa's Earned Equity Program Overview

Monique Minaya, a mortgage industry veteran since 1997, presented an overview of the Earned Equity Program (EEP) offered by Trevisa Financial. She explained that EEP enables first-time homebuyers, including non-permanent residents and those with low or no credit scores, to purchase homes with a 3.5% down payment using FHA financing. The program allows for 3-month bank statements, no source or seasoning of funds, and higher debt-to-income ratios, making it particularly suitable for underserved communities. Monique emphasized the program's support system, including a hotline, email, and dedicated team, and invited questions during a planned Q&A session.

FHA Rehab Program Discussion

The meeting discussed the FHA rehab program, which cannot currently be used with FHA loans but may be expanded in the future. Travisa agreed to send Edward a copy of the PowerPoint presentation used during the meeting, as well as a recording of the video. Claudia inquired about turn times for the program, which Travisa estimated at 30-35 days, with the possibility of extensions if repairs are needed. They also discussed the requirements for income documentation, including the use of 3-month bank statements in lieu of W-2s for certain borrowers. Travisa explained that the property would be vested under the government entity, with the borrower having a security interest but not ownership until refinancing or selling the property.

Government Loan Program Fee Structure

The meeting focused on discussing a government entity loan program with three interest rates: 7.25% and 8.25%, with 7% being the most common. Travisa explained that closing costs typically require a 5% seller contribution plus a 3.5% down payment, with the first month's payment due at closing if the closing date is November 15th. The government entity fees include a $1,400 underwriting and processing fee, a $150 notary fee, a half percent homeownership agreement fee, and a .75% program participation fee that is being waived through the end of the year. Travisa advised that these fees cannot be covered by seller credits and must be paid by the borrower, though they can be financed.