Business, Free News Articles, Reports and Studies

Down Payment Resource analysis finds that 33% of declined mortgage applications are declined for reasons addressable with homebuyer assistance

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from an analysis showing that a substantial share of mortgage loan applications are both declined for reasons that can be addressed with homebuyer assistance and eligible for homebuyer assistance programs.

Methodology:

Findings were derived by analyzing HMDA data for tens of thousands of declined purchase mortgage loan applications representing $3.7 billion in volume furnished by mortgage lenders. Loan applications declined for either insufficient cash-to-close or disqualifying debt-to-income (DTI) ratios were categorized as potentially recoverable with homebuyer assistance. Homebuyer assistance eligibility for this group of applications was determined by running loan application data - including location, home price, loan amount, income and homeownership history - through the DOWN PAYMENT RESOURCE® database.

Matching assistance programs were then applied to each loan to determine how applying homebuyer assistance to eligible declined loan files would have impacted loan-to-value (LTV) ratios.

KEY FINDINGS

Key findings are as follows:

* A large share of declined loan files were eligible for homebuyer assistance. 33% of all declined purchase mortgage loan applications were declined for either insufficient cash-to-close or disqualifying DTI ratios and also eligible for homebuyer assistance at the time of declination. The large share of loans potentially recoverable with homebuyer assistance highlights a significant, low-cost opportunity for lenders to increase purchase volume.

* Declined loan applications were typically eligible for multiple programs. On average, declined loan applications were eligible for 10 homebuyer assistance programs, indicating there are often multiple options available to homebuyers financing with homebuyer assistance.


* Many declined loans could have been recovered with homebuyer assistance. Applying homebuyer assistance to eligible declined loan applications would have reduced LTV by an average of 5.85%, making many of the loan applications recoverable. Lowering LTV can open the door to better and more affordable first mortgage scenarios, including conventional (rather than FHA) financing, reduced mortgage insurance costs and better interest rates.

"In light of National Homeownership Month and the state of the housing market, it is important for the mortgage industry to reflect on ways it can improve financing outcomes for homebuyers," said DPR CEO Rob Chrane. "Our analysis definitively shows that homebuyer assistance programs are the most promising pathway to homeownership for a sizable share of the homebuyer population. Yet, homebuyer assistance programs are seldom offered as an option. It is my hope that this information will help lenders better serve their communities by showing that qualified homebuyers who need down payment assistance are not a niche market, but a major market that continues to grow."

About Down Payment Resource:

Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,200 programs in 11 categories. Its award-winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100(tm). DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. DPR's subscription-based service, Down Payment Connect, helps agents and loan officers match buyers to available programs. For more information, please visit https://downpaymentresource.com/ and on Twitter at @DwnPmtResource.

Related link: https://www.downpaymentresource.com/

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Alliances and Partnerships, Business, Free News Articles, Real Estate

OneKey MLS names Down Payment Resource partners as designated provider of down payment assistance tools

ATLANTA, Ga. -- OneKey® MLS, the largest multiple listing service (MLS) in New York, today announced that it has partnered with Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, to indicate MLS residential listings that may be eligible for down payment assistance and other homebuyer affordability programs.

OneKey MLS has 45,000 MLS subscribers and specializes in listing residential and commercial real estate in nine New York counties covering Long Island, the Hudson Valley and all five NYC boroughs. In addition to providing home directories to its subscribers, OneKey MLS enables consumers to search home listings on a public-facing search site.

"Many prospective buyers do not realize the wealth of down payment assistance programs available to them, even at the state and regional levels," said OneKey MLS CEO Jim Speer. "Thanks to our partnership with DPR, our subscribers can swiftly connect borrowers with the homebuyer education and assistance programs they need to achieve their financial dreams."

DPR's toolset is the latest of many time-saving resources that OneKey MLS offers consumers and subscribers. Through its new partnership with DPR, OneKey MLS will now flag listings eligible for homebuyer assistance programs on both its public- and subscriber-facing search pages. Down Payment Resource has already identified 54 programs available in OneKey MLS' area coverage for which 62% of its residential listing inventory is potentially eligible.

"Home prices across the United States have soared in the past year. New York state is no different, with low inventory driving the state's median home price up by 19.4% in 2021," said DPR CEO Rob Chrane. "Now, New Yorkers that are hoping to buy a home can count on OneKey MLS and its Realtor subscribers for homebuyer affordability guidance they may have never encountered otherwise."

About Down Payment Resource:

Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,200 programs in 11 categories. Its award winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100(tm). DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. DPR's subscription based service, Down Payment Connect, helps agents and loan officers match buyers to available programs. For more information, please visit https://downpaymentresource.com/ and on Twitter at @DwnPmtResource.

About OneKey® MLS:

OneKey MLS, made possible by the merger of MLSLI and Hudson Gateway MLS, is one of the nation's leading Multiple Listing Services, serving over 45,000 REALTOR® subscribers and 4,300 participating offices throughout Long Island, Manhattan, and the Hudson Valley. OneKey MLS is dedicated to providing more comprehensive coverage, up-to-date statistics, and the best real estate tools and resources.

Related link: https://www.downpaymentresource.com/

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Alliances and Partnerships, Business, Free News Articles, Real Estate, Software

realMLS enhances listing service with Down Payment Resource to help subscribers connect consumers with homebuyer assistance programs

ATLANTA, Ga. -- realMLS, serving 11,000 members in Northeast Florida, today announced that it has partnered with Down Payment Resource (DPR) to enhance its platform with DPR's suite of real estate agent tools that help MLS customers connect homebuyers with homebuyer assistance programs.

realMLS is a multiple listing service (MLS) which provides advanced tools and reliable listing data to their MLS members serving Baker, Clay, Duval, Nassau, Putnam and St. Johns County, Florida. According to DPR analysis, 44 homebuyer assistance programs are available for up to 63% of realMLS listings, including 35 down payment assistance programs, six affordable first mortgage programs, two mortgage credit certificates (MCCs) and one other program.

As a subscriber benefit, realMLS has integrated DPR with its listing data so properties that qualify for one or more homebuyer assistance programs will be searchable and flagged with the DPR icon. Additionally, realMLS subscribers will receive Down Payment Connect, a unique lead generation landing page that allows visitors to search for homeownership programs and Realtors to collect prospect contact information. Subscribers will also be given access to DPR's library of marketing resources, which includes graphics, social media images and customizable flyers.

"The median home price in realMLS' coverage area has spiked 25.5% over the last year, increasing the cost of a 3% down payment by tens of thousands of dollars for most homes," said DPR CEO Rob Chrane. "DPR tools equip realMLS subscribers to sustainably grow their business by helping families overcome one of the most frequently cited barriers to homeownership: the cost of a down payment."

"realMLS is focused on providing technology such as DPR which empowers our members to best serve consumers," said realMLS CEO Nicole Jensen. "DPR gives our subscribers an edge by making them the source on homebuyer opportunities to proactively address the homebuyer affordability challenges facing people living and working in our communities."

About Down Payment Resource:

Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,200 programs in 11 categories. Its award winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100(tm). DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. DPR's subscription based service, Down Payment Connect, helps agents and loan officers match buyers to available programs. For more information, please visit https://downpaymentresource.com/ and on Twitter at @DwnPmtResource.

About realMLS:

realMLS (a wholly-owned subsidiary of NEFAR) is a Multiple Listing Service for over 11,000 members in Northeast Florida focused on promoting a healthy marketplace, for members and their clients, by providing innovative tools and comprehensive listing data. realMLS partners with exceptional service providers to give members an array of choices to fit their business model. Members have access to statistical data products that are customizable, along with extensive property record data through their integration with Metro Market Trends, Inc., which provides detailed and accurate property information to its customers in Florida and Alabama. To learn more about realMLS go to https://www.realmls.com/.

Related link: https://www.downpaymentresource.com/

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Alliances and Partnerships, Business, Free News Articles, Real Estate

Down Payment Resource teams up with Realtor.com to Help Home Shoppers Find Homebuyer Assistance Programs

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced that Realtor.com® has deployed DPR's search tool that helps home shoppers find homebuyer assistance programs.

DPR maintains a comprehensive catalog of all of the homebuyer assistance programs available in the United States, including down payment and closing cost programs, Mortgage Credit Certificates and affordable first mortgages. According to DPR's Q1 2022 Homeownership Program Index (HPI), there are 2,238 homebuyer assistance programs, with at least one available in each of the United States' 3,143 counties.

Realtor.com® has deployed DPR's search tool on https://www.realtor.com/foreveryone/ to support its Closing the Gap initiative, which is aimed at increasing the homeownership rate of underserved and underrepresented communities.

The search tool can be embedded in an organization's website and enables homeshoppers to search for homebuyer assistance programs by entering property, household and relevant eligibility information.

"Record-high home prices and record-low housing inventory are making it very challenging for people, especially underserved and underrepresented communities, to become homeowners - further exacerbating the homeownership gap," said DPR CEO Rob Chrane. "The good news is that there are thousands of homebuyer assistance programs available to help with down payment and closing costs, including many designed to support people of color becoming homeowners."

"Giving home shoppers the ability to find down payment assistance programs directly on Realtor.com is another step forward in our Close the Gap initiative," said Mickey Neuberger, chief marketing officer for Realtor.com. "This program brings together many different parts of our business in a focused effort to increase the home ownership rate for underserved and underrepresented groups. Systemic discrimination in real estate has held people back for far too long, it's time for us to all work together to make a change."

"We commend Realtor.com for its generous gift and pledge to match donations made to the Homeownership Council of America's (HCA) Equity Down Payment Assistance Fund, which supports homebuyers of color and low to moderate income homebuyers," continued Chrane. "Now home shoppers who may be eligible for those funds will be able to discover them with the help of Down Payment Resource."

About Down Payment Resource:

Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,200 programs in 11 categories. Its award winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100(tm). DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. DPR's subscription-based service, Down Payment Connect, helps agents and loan officers match buyers to available programs. For more information, please visit https://downpaymentresource.com/ and on Twitter at @DwnPmtResource.

Related link: https://www.downpaymentresource.com/

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Business, Free News Articles, Reports and Studies

Down Payment Resource releases Q1 2022 Homeownership Program Index

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced the release of its latest Homeownership Program Index (HPI). The firm's analysis of 2,238 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 46 from Q4 2021 to Q1 2022.

Methodology

Published quarterly, DPR's HPI surveys the funding status, eligibility rules and benefits of U.S. homebuyer assistance programs administered by state and local housing finance agencies, municipalities, nonprofits and other housing organizations. DPR communicates with over 1,200 program administrators throughout the year to track and update the country's wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

Key Findings

The Q1 2022 HPI examined a total of 2,238 homebuyer assistance programs that were active as of April 6, 2022. Key findings are as follows.

* Marked increase in number of programs introduced. Programs introduced in Q1 2022 include two first mortgage programs, two combined funding programs, 10 grants and 32 second mortgage programs. This marks a 2.1% increase in the number of homebuyer programs available compared to Q4 2021.

* Largest gains in nonprofit programs. There was a 5.7% increase in nonprofit-sponsored programs introduced in Q1 2022. Additionally, there was a 2.3% increase in programs supporting home purchases in defined locales and a 1.3% increase in statewide programs.

* Support for manufactured housing continues to increase. 31 additional homebuyer programs opened eligibility to manufactured housing in Q4 2021. Now 28.8% of all homebuyer assistance programs support the purchase of manufactured homes.

* More than one third of programs do not have a first-time home buyer requirement. It is a common misconception that homebuyer assistance is only available to first-time homebuyers, however 38% of homebuyer assistance programs in Q1 2022 did not have a first time homebuyer requirement.

"Both the number of homebuyer assistance programs and the volume of available funding increased in Q1 2022, a trend we have observed for several consecutive quarters," said DPR CEO Rob Chrane. "With affordability on the decline in 79% of U.S. counties and the availability of homebuying assistance on the rise, homebuyers need real estate agents and mortgage lenders to connect them with programs that make homeownership more affordable."

Further analysis of the Q1 2022 HPI findings, including infographics and examples of many of the programs described in this release, can be found on DPR's website at https://downpaymentresource.com/professional-resource/more-homebuyer-assistance-programs-introduced-as-affordability-declines-in-most-u-s-counties/.

For a complete, state-by-state list of homebuyer assistance programs, visit https://downpaymentresource.com/wp-content/uploads/2022/04/HPI-state-by-state-data.Q12022.pdf.

About Down Payment Resource:

Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,200 programs in 11 categories. Its award winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100(tm). DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. DPR's subscription based service, Down Payment Connect, helps agents and loan officers match buyers to available programs. For more information, please visit DownPaymentResource.com and on Twitter at @DwnPmtResource .

Related link: https://www.downpaymentresource.com/

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Alliances and Partnerships, Business, Free News Articles, Real Estate, Software

Spokane Association of REALTORS® rolls out Down Payment Resource to help subscribers connect homebuyers with down payment assistance

SPOKANE, Wash. -- The Spokane Association of REALTORS® (SAR) today announced that it has partnered with Down Payment Resource (DPR) to provide its 2,500 MLS subscribers with access to DPR's toolset that helps real estate agents connect clients with programs that can help save on down payments and closing costs.

SAR is a Spokane County, Washington-based organization that operates a multiple listing service (MLS) on behalf of its Realtor subscribers. Through its partnership with DPR, SAR will flag eligible listings with a DPR icon, making it easy for MLS subscribers to find and share available homebuyer assistance programs with their clients. According to DPR analysis, up to 70% of SAR listings may be eligible for one or more forms of homebuyer assistance, including down payment assistance programs, grants, affordable first mortgages and more.

SAR MLS subscribers will also receive access to other DPR tools, including Down Payment Connect, a personalized lead generation landing page where borrowers can search for homeownership assistance programs in their market, and marketing resources that help generate borrower excitement in the homebuying process.

"The median sale price of a home in Spokane soared 22.5% over the last year, which is pushing many otherwise qualified, entry-level homebuyers out of the market simply because they cannot save for down payment and closing costs at the same pace as appreciation," said DPR CEO Rob Chrane. "DPR helps SAR MLS subscribers strengthen the health of their community by providing families the lift they need to get into a home of their own."

"Spokane has become a hot market, so more buyers are looking for valuable information that will help them save on their home loan and down payment," said 2022 SAR President Eric Etzel. "We are proud to provide DPR tools to our MLS subscribers so they can help families access the down payment help they need to start building wealth as homeowners."

About Down Payment Resource:

Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,000 programs in 11 categories. Its award winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100™. DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. DPR's subscription based service, Down Payment Connect, helps agents and loan officers match buyers to available programs. For more information, please visit https://downpaymentresource.com/ and on Twitter at @DwnPmtResource.

About Spokane Association of REALTORS® (SAR):

The Spokane Association of REALTORS® was founded in 1911 as the voice for real estate in Spokane County, Washington. Today, the association has more than 2,500 broker and affiliate members. It wholly owns and operates a multiple listing service on behalf of its members.

Twitter: @DwnPmtResource @SpokaneREALTOR #MLS #Realtor #broker #downpaymentassistance

RELATED LINKS:

https://www.spokanerealtor.com/

Related link: https://www.downpaymentresource.com/

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Business, Free News Articles, Software

Down Payment Resource welcomes Marcy Ash, AMP, as Director of Strategic Projects

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced it has appointed Marcy Ash, AMP, as director of strategic projects. In her role at DPR, Ash will manage relationships with state Housing Finance Agencies (HFAs) and spearhead industry partnerships and strategies that help DPR deliver greater value to its customers.

"My passion is helping low- to moderate-income borrowers realize their dreams of homeownership, so I am thrilled to join DPR as the newest member of its dedicated team of housing industry experts," said Ash. "I look forward to building upon the company's exceptional reputation by connecting even more lenders, real estate agents and borrowers with the award-winning digital tools they need to expand sustainable homeownership accessibility."

Prior to joining the DPR team, Ash was assistant vice president and senior product manager at Huntington Bank, where she was responsible for developing, implementing and managing the company's affordable lending products and programs. As a result of Ash's efforts, Huntington Bank saw a 700% increase in the number of closed loans for low- to moderate-income borrowers through the Ohio Housing Finance Agency.

"Marcy brings over 28 years of valuable mortgage lending and product development experience to our organization," said DPR CEO Rob Chrane. "With her extensive expertise and proven passion for DPR's mission of connecting borrowers with down payment assistance programs, Ash will play a vital role in nurturing our organization's strategic projects and partnerships."

Ash is a state-certified continuing education instructor for Realtors in Ohio, Michigan and Kentucky. She has also been an annual guest speaker and moderator for the Ohio Housing Conference and has served as a member of the Ohio Housing Lender Advisory Board.

About Down Payment Resource:

Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,000 programs in 11 categories. Its award winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100™. DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. DPR's subscription based service, Down Payment Connect, helps agents and loan officers match buyers to available programs.

For more information, please visit https://downpaymentresource.com/ and on Twitter at @DwnPmtResource.

Related link: https://www.downpaymentresource.com/

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Awards and Honors, Business, Free News Articles

Down Payment Resource Presents 2021 Beverly Faull Affordable Housing Leadership Award to Ruth Johnson

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced that Ruth Johnson, founder and CEO of Homes for Heroes, has been selected the winner of its fourth annual 2021 Beverly Faull Affordable Housing Leadership Award. Each year, the Beverly Faull Affordable Housing Leadership Award recognizes an individual or organization that has demonstrated outstanding leadership in broadening access to homeownership and affordable housing finance solutions.

Johnson was selected for founding Homes for Heroes, a national network of real estate, mortgage and local business specialists that provide housing services at a reduced cost to healthcare professionals, teachers, first responders, active military and veterans. To date, Homes for Heroes has helped give back $100 million in Hero Rewards to more than 50,000 heroes and their families so they can reach their homeownership dreams.

Each year, DPR makes a financial donation to the recipient's housing nonprofit of choice. Johnson has requested the donation be made to the Homes for Heroes Foundation, 501(c)3 nonprofit that aids heroes suffering from housing insecurity with housing assistance and home modification services. The foundation recently celebrated raising $1 million dollars to support heroes in need.

"I am incredibly honored to be named a Beverly Faull Affordable Housing Leadership Award recipient," said Johnson. "In the age of Covid, it is more important than ever to give back to the brave heroes that have remained dedicated to serving our country and its diverse communities throughout this crisis. Helping those heroes has been a lifelong passion of mine, and I look forward to continuing this mission with Homes for Heroes for years to come."

The Beverly Faull Affordable Housing Leadership Award is named in memory of Beverly Faull, a highly regarded housing industry veteran and one of DPR's first employees, who fully embraced the company's mission to provide greater visibility and access to down payment assistance programs.

Previous winners of this award include The National Association of Real Estate Brokers (NAREB), the oldest professional organization for Black and minority real estate professionals, Tonya Todd, Housing Director for Hilltop Securities, Inc. and John O'Callaghan, President and CEO of the Atlanta Neighborhood Development Partnership, Inc.

For more information about Johnson's ongoing work with Homes for Heroes, visit https://www.homesforheroes.com/.

About Down Payment Resource:

Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,300 programs in 13 categories. Its award-winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100(tm).

DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. DPR's subscription-based service, Down Payment Connect, helps agents and loan officers match buyers to available programs. For more information, please visit DownPaymentResource.com and on Twitter at @DwnPmtResource.

Related link: https://www.downpaymentresource.com/

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Business, Free News Articles, Real Estate, Reports and Studies

Down Payment Resource releases Q4 2021 Homeownership Program Index

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced the release of its latest Homeownership Program Index (HPI). The firm's analysis of 2,192 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database showed measurable quarter-over-quarter gains in program funding levels and an increased prevalence of programs aimed at assisting community heroes.

Methodology

Published quarterly, DPR's HPI surveys the funding status, eligibility rules and benefits of U.S. homebuyer assistance programs administered by state and local housing finance agencies, municipalities, nonprofits and other housing organizations. DPR communicates with over 1,200 program administrators throughout the year to track and update the country's wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

Key Findings

The Q4 2021 HPI examined a total of 2,192 homebuyer assistance programs that were active as of January 6, 2022. Key findings are as follows.

* Funding levels are on the rise. 84% of programs had funds available for eligible homebuyers. That level of funding reflects a nearly 2% increase from Q3 2021.

* More programs now target community heroes. Nearly 9% of all homebuyer assistance programs available in Q4 benefit teachers, first responders, law enforcement officers, firefighters, healthcare workers and other providers of critical community services. Another 11% of programs offer benefits for veterans, members of the military and surviving spouses.

* Three out of four programs (73%) focus on helping homebuyers with down payments and/or closing costs. This figure includes repayable, partially forgivable and fully forgivable programs. Other major categories of assistance include affordable first mortgage programs (11%), Mortgage Credit Certificates (5%), matched savings programs and Housing Choice Vouchers.

* Assistance is available for repeat homebuyers and landlords. Approximately 38% of programs do not have a first-time homebuyer requirement. In addition, 27% of programs allow buyers to purchase a multi-family property as long as the buyer occupies one of the units.

* Availability varies by location. Three out of four (74%) programs are targeted to properties in specific locales such as cities, counties or neighborhoods, with the balance of programs available statewide through state housing finance agencies. The states with the most homebuyer assistance programs are California, Florida and Texas.

* Support for manufactured housing is increasing. While homebuyer assistance programs have historically favored site-built homes, as of Q4, 28% of programs allow manufactured housing as an eligible property type, up nearly 2% from the previous quarter.

"First responders, military, educators and other community service roles have been front and center for their extraordinary pandemic contributions," said DPR CEO Rob Chrane. "Many locales - especially in higher-cost markets - are determined to find creative ways to recruit and retain these workers, including by helping them make homeownership more affordable."

Further analysis of the Q4 HPI findings, including infographics and examples of many of the programs described in this release, can be found on DPR's website at https://downpaymentresource.com/professional-resource/homeownership-program-index-highlights-programs-for-community-heroes/.

For a complete, state-by-state list of homebuyer assistance programs, visit https://downpaymentresource.com/wp-content/uploads/2022/01/HPI-state-by-state-data.Q42021.pdf.

About Down Payment Resource:

Down Payment Resource (DPR) creates opportunity for homebuyers, REALTORS® and lenders by uncovering programs that get people into homes. The company tracks funding status, eligibility rules, benefits and more for more than 2,000 homebuyer assistance programs through partnerships with state and local program providers. DPR has been recognized by Inman News as a "Most Innovative New Technology" and named to HousingWire's Tech100(TM) list of the most innovative companies serving the mortgage and real estate industries. DPR is licensed to multiple listing services, REALTOR® associations, lenders and housing counselors across the United States and offers a subscription service, Down Payment Connect, to help agents and loan officers match buyers to available programs. For more information, visit https://www.downpaymentresource.com.

Related link: https://www.downpaymentresource.com/

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