7 Markets With the Greatest Potential Impact of Down Payment Assistance
Mortgage Ready Buyers May Benefit from Down Payment Help
Homeownership Program Index analyzes 7 markets with the greatest potential impact of down payment assistance
Atlanta, GA, February 12, 2019 — The Down Payment Resource Third and Fourth Quarter 2018 Homeownership Program Index (HPI) reports the number of total programs decreased to 2,524, down just three programs from the second quarter. More than 85 percent (85.8%) of programs currently have funds available for eligible homebuyers, down one percent from second quarter.
Down Payment Resource (DPR) communicates with 1,313 program administrators to track and update the country’s wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates, affordable first mortgages and more.
HPI key facts
- 39% of homeownership programs do not have a first-time homebuyer requirement and are available for eligible repeat homebuyers. (First-time homebuyer is defined by HUD as someone who has not owned a home in three years.)
- 74% of programs are available in a specific local area, such as a city, county or neighborhood. 26% of programs are available statewide through state housing finance agencies.
- 20% of programs allow buyers to purchase a multi-family property as long as the buyer occupies one of the units.
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