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

Down Payment Resource’s Q4 2022 Homeownership Program Index shows homebuyer assistance programs have increased in number for fifth consecutive quarter

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,351 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.82% from Q3 to Q4 2022. This marks the fifth consecutive quarter the number of homebuyer assistance programs has grown.

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 providers 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 2022 HPI examined a total of 2,351 homebuyer assistance programs that were active as of January 6, 2023. Key findings are as follows:

* The net number of homebuyer assistance programs is up. The total number of programs increased by 42 in Q4 2022. Among them were five nationwide or multi-state programs and seven statewide programs.

* Support for first-time homebuyers increased. The number of programs dedicated to supporting first-time homebuyers now totals 1,315, up from 1,291 in Q3 2022.

* Support for multifamily homebuyers increased. Programs that support multifamily homeownership saw a 5.5% increase over Q3 2022. These programs now make up 29.3% of all homebuyer assistance offerings.

"While economic roadblocks caused the percentage of programs actively receiving funding to decrease marginally in Q4, homebuyer assistance still saw steady growth in 2022," said DPR CEO Rob Chrane. "Until home prices and mortgage rates decline and the housing market recovers, down payment assistance will be a crucial source of financial support for homebuyers that lack the savings to cover an inflated down payment."

A more detailed analysis of the Q4 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/homebuyer-assistance-offerings-increase-for-the-fifth-consecutive-quarter-in-q4-2022/.

For a complete list of homebuyer assistance programs by state, visit https://downpaymentresource.com/wp-content/uploads/2023/01/HPI-state-by-state-data.Q42022.pdf.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

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

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

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

Down Payment Resource’s Q4 2022 Homeownership Program Index shows homebuyer assistance programs have increased in number for fifth consecutive quarter

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,351 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.82% from Q3 to Q4 2022. This marks the fifth consecutive quarter the number of homebuyer assistance programs has grown.

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 providers 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 2022 HPI examined a total of 2,351 homebuyer assistance programs that were active as of January 6, 2023. Key findings are as follows:

* The net number of homebuyer assistance programs is up. The total number of programs increased by 42 in Q4 2022. Among them were five nationwide or multi-state programs and seven statewide programs.

* Support for first-time homebuyers increased. The number of programs dedicated to supporting first-time homebuyers now totals 1,315, up from 1,291 in Q3 2022.

* Support for multifamily homebuyers increased. Programs that support multifamily homeownership saw a 5.5% increase over Q3 2022. These programs now make up 29.3% of all homebuyer assistance offerings.

"While economic roadblocks caused the percentage of programs actively receiving funding to decrease marginally in Q4, homebuyer assistance still saw steady growth in 2022," said DPR CEO Rob Chrane. "Until home prices and mortgage rates decline and the housing market recovers, down payment assistance will be a crucial source of financial support for homebuyers that lack the savings to cover an inflated down payment."

A more detailed analysis of the Q4 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/homebuyer-assistance-offerings-increase-for-the-fifth-consecutive-quarter-in-q4-2022/.

For a complete list of homebuyer assistance programs by state, visit https://downpaymentresource.com/wp-content/uploads/2023/01/HPI-state-by-state-data.Q42022.pdf.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

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

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Reports and Studies

Down Payment Resource releases Q3 2022 Homeownership Program Index

ATLANTA, Ga. -- Down Payment Resource (DPR), a technology provider helping the housing industry connect homebuyers with homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,309 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.6% from Q2 to Q3 2022.

This marks the fourth consecutive quarter of growth in homebuyer assistance programs. Increased program availability and funding are especially timely given recent research from Redfin indicating that the median U.S. down payment on a home grew from $32,917 in July 2019 to $62,500 in July 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 providers 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. Homebuyer assistance programs that waive the first-time homebuyer requirement for veterans and military personnel are tracked as two separate programs to enable reporting on dedicated assistance for military buyers.

Key Findings

The Q3 2022 HPI examined a total of 2,309 homebuyer assistance programs that were active as of October 3, 2022. Key findings are as follows:

* The net number of homebuyer assistance programs continues to grow. The number of programs increased by 36 in Q3 2022, including 16 new statewide programs, seven new municipal programs and several new programs administered by employers or nonprofits. These programs provide assistance in the form of affordable first mortgages, community second mortgages and combined down payment and closing cost support, among other types of homebuyer assistance.

* More programs are receiving funding. More than four out of five (83.9%) programs are currently funded, and the number of actively funded programs grew by 34 in Q3 2022, a 2% increase over the previous quarter.

* Programs offering incentives for educators increased. The number of programs offering unique benefits for educators grew by 16.4% over the past quarter. The 10 new programs added this quarter brings the total number of homebuyer assistance programs for educators to 71 nationwide.

"Home price appreciation and low housing inventory have caused the median down payment to nearly double from this time two years ago," said DPR CEO Rob Chrane. "At the same time, rising interest rates are driving up monthly mortgage payments, making homeownership even more difficult to achieve. Consumers, lenders and real estate agents need to know about the large and growing number of homebuyer assistance programs available nationwide that can make a real difference."

Further analysis of the Q3 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/homebuyer-assistance-programs-proliferate-in-q3-as-median-u-s-down-payment-skyrockets/.

For a complete, state-by-state list of homebuyer assistance programs, visit https://downpaymentresource.com/wp-content/uploads/2022/10/HPI-state-by-state-data.Q32022.pdf.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. The company tracks funding status, eligibility rules, benefits and more for approximately 2,200 programs in 11 categories. 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.

Twitter: @DwnPmtResource #downpaymentassistance

RELATED LINKS:

https://www.redfin.com/news/homebuyer-down-payments-doubled-during-pandemic/

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

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

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/

This news story was published by the Neotrope® News Network - all rights reserved.

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/

This news story was published by the Neotrope® News Network - all rights reserved.