Did you know there are down payment assistance (DPA) programs designed specifically for educators, first responders, and health care workers?

Purchasing a home is a significant milestone, but the financial hurdles, particularly saving for the down payment, can be daunting. You don’t have to be a community hero to be eligible for any of the 2,400-plus U.S. homebuyer assistance programs, but if you work in one of these essential fields, you may qualify for special financial assistance to help get you on the path to homeownership.

For Educators

Educators play a vital role in shaping the future, and there are several programs aimed at helping them achieve the dream of homeownership. For example, the Texas State Affordable Housing Corporation (TSAHC) offers the Homes for Texas Heroes Program, which provides down payment and closing cost assistance for public school teachers and other educators who work for a public school district.

For First Responders

First responders, including firefighters, paramedics, and emergency medical technicians, may be eligible for programs like the Georgia Dream Protectors, Educators & Nurses (PEN) loan option. This program provides 6% of the property purchase price or a maximum of $12,500 in down payment help, whichever is the lesser amount, to public protectors, educators, healthcare providers and active military.

For Healthcare Workers

Health care professionals provide essential services, and many homebuyer assistance program providers recognize their contributions by offering specialized financial support. The Ohio Housing Finance Agency’s (OHFA) Ohio Heroes program provides a discounted mortgage interest rate with the option of down payment assistance for community heroes, including physicians, nurse practitioners, nurses (RN and LPN) and STNAs.

Benefits of These Programs

Taking advantage of these programs provides multiple benefits, including:

• Reduced Financial Barriers: By lowering or eliminating down payment requirements, these programs make it easier for eligible professionals to purchase homes.
• Financial Flexibility: Savings from these programs can be allocated to other expenses, such as home improvements or emergency funds, enhancing overall financial well-being.
• Stronger Community Ties: Many of these programs encourage professionals to live in the communities they serve, fostering stronger neighborhood connections.

Making Homeownership More Affordable

By leveraging these programs, eligible professionals can overcome common financial obstacles associated with home buying, and may be able to achieve homeownership sooner that they thought possible. Consulting with housing counselors, real estate and lending professionals familiar with these initiatives can provide personalized guidance, ensuring you maximize available benefits and achieve your homeownership goals.

Looking to purchase a home?  Find down payment programs in your area today and see if you’re eligible!

While the VA loan program allows members of the military to buy a home with no down payment, some of these buyers may still face challenges with closing costs or other related expenses.

Numerous organizations and state programs provide homebuyer assistance to help alleviate this burden. 

While service members are eligible for any of the 2,400-plus U.S. homebuyer assistance programs, we found there are 49 programs offering up to $117,000 in assistance specifically developed to help our military community members build, buy or make accessibility-related home renovations. Additionally, there are 211 programs that waive first-time homebuyer requirements for Veterans and military personnel. 

In honor of the sacrifices made by the courageous members of the U.S. Armed Forces, this Veterans Day we’re highlighting five affordable homeownership programs designed for military buyers:

City of Westlake Housing Assistance Purchase Program  

• The City of Westlake Housing Assistance Purchase Program offers up to $60,000 in the form of a deferred, 10-year forgivable loan, with 10% of the loan amount being forgiven annually, except the first year wherein 5% will be forgiven. The program is open to first-time and repeat buyers, and Veterans of all branches of the military can qualify for an additional 3% of the purchase price. Applicants earning up to 140% of the area median income (AMI) are eligible and there are no purchase price limits.

Florida Hometown Heroes Housing Program

• Eligible borrowers for the Florida Hometown Heroes Housing Program from the Florida Department of Veterans Affairs receive up to 5% of the first mortgage loan amount (up to a maximum of $35,000) in down payment and closing cost assistance in the form of a 0%, non-amortizing, 30-year deferred second mortgage. To qualify, homebuyers must connect with a participating loan officer, have a minimum credit score of 640, provide certification of active military or Veteran status, and meet the income threshold for their county.

NeighborWorks Columbus – Hallock Soldiers Fund

• The NeighborWorks Columbus Hallock Soldiers Fund offers Veterans and active duty soldiers up to $5,000 in a deferred, zero-interest, five-year forgivable loan. There are no income limits or price restrictions. Applicants must be first-time homebuyers (have not owned a home in three years). Homebuyer education by NeighborWorks Columbus is required. 

Utah Veteran First-Time Homebuyer Grant

• The Utah Veteran First-Time Homebuyer Grant supports active military and Veterans who have retired in the past five years with a $2,500 grant that can be used toward a down payment, closing costs or other mortgage expenses. Applicants must be purchasing their first home in Utah, but may still be eligible if they previously owned property in another state. Grant recipients are permitted to work with any lender authorized to originate mortgages in the state of Utah and may choose any conforming loan program, including VA, FHA, Fannie Mae or Freddie Mac loans. 

Washington State Housing Finance Commission (WSHFC) Veterans Down Payment Assistance Loan Program

• The WSHFC Veterans Down Payment Assistance Loan Program provides financial support for Veterans (honorably discharged), honorably discharged former members of the Washington National Guard and Reserve, and military spouses who never remarried and dependent children of deceased Veterans. Program participants can receive up to $10,000 and a 3% mortgage rate. Even though DPA must be repaid, payments can be deferred for the lifetime of the loan (up to 30 years). Borrowers must be first-time homebuyers or buying in a targeted area. This program also can be combined with WSHFC’s Home Advantage or House Key first mortgage loan programs.

These initiatives, and many more like them nationwide, provide our servicemen and servicewomen with the opportunity to achieve affordable, sustainable homeownership on the homefront. 

Looking to purchase a home?  Find down payment programs in your area today and see if you’re eligible!

Analysis finds 48 programs in 13 states offering up to $90,000 in assistance designed to help Native Americans purchase a home

ATLANTA, Ga., Oct. 16, 2024 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting homebuyers with homebuyer assistance programs, is highlighting 48 U.S. homebuyer assistance programs in 13 states that are specifically designed to support Native Americans (American Indians and Alaska Natives) in conjunction with Native American Heritage month in October. While Native Americans may be eligible for all of the 2,400-plus U.S. homebuyer assistance programs, these 48 programs were specifically developed to provide help with down payments and other home-buying costs. 

The Native American homeownership rate is around 56% which is significantly lower than the national average, with a gap of roughly 15 percentage points compared to white households. The Native American-white homeownership gap exceeds 30 percentage points in five states. 

While the federal government is responsible for providing funding for housing programs on tribal lands, historically this funding has been insufficient, especially in rural areas, according to the National Indian Council on Aging. These communities have many substandard housing units, including dilapidated homes, and many continue to struggle with overcrowding. Nearly 16% of households across tribal lands live in overcrowded conditions, compared to 2.2% nationally, notes the Council. 

An analysis of the 48 programs showcases the range of assistance available to promote Native American homeownership. 

• Eligibility: Most programs are limited to members of federally recognized tribes for purchasing homes on reservations or within specified service areas.
• Financial assistance range: The programs offer homebuyer assistance ranging from $2,125 to $90,000.
• Income requirements: Fifteen programs have no income requirements. Thirty-one programs have income requirements that range from 80% to 120% of the Area Median Income. 
• Availability: Assistance programs are offered in 13 states. The states with the most programs are Oklahoma (12), Michigan (9), California (6) and Washington (5). Twenty programs are statewide and 28 are local. 
• Program types: The homeowner assistance programs encompass various types, including 33 second mortgage programs, nine grant programs, four matched savings programs, and two first mortgage programs. Twenty-six programs are for first-time homebuyers only, and 22 programs can be accessed by repeat buyers.
•  Forgivable assistance: Thirty-eight of the programs offer forgivable assistance, provided that all program conditions, such as owner-occupancy, are met, further alleviating the financial burdens for aspiring homeowners.
• Housing types: All programs allow for purchase of single-family homes. Twenty-eight allow for the purchase of modular or manufactured homes.

“We welcome the growing number of programs for Native American homebuyers. We feel homeownership is an important pathway to economic prosperity and community development,” said DPR Founder and CEO Rob Chrane. “I would encourage Native American homebuyers to search our complete database of all 2,444 down payment assistance programs in the United States — the most complete such resource anywhere — to find those specific to their tribe and region that can help them achieve homeownership and start building generational wealth.”

Individuals can search for their homebuyer assistance program eligibility for free at https://downpaymentresource.com/are-you-eligible/. 

Methodology:

DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE® database for programs with incentives for people with disabilities. The DOWN PAYMENT RESOURCE® database tracks the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs using data sourced from more than 1,300 housing finance agencies (HFAs), municipalities, nonprofits and other housing organizations. Homebuyer assistance programs of all types are tracked, including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages.

Looking to purchase a home?  Find down payment programs in your area today and see if you’re eligible!

For Disability Pride Month Down Payment Resource Reports on Homebuyer Assistance Programs for People with Disabilities

ATLANTA, Ga., July 9, 2024 — In celebration of Disability Pride Month in July, Down Payment Resource (DPR) is highlighting 18 U.S. homebuyer assistance programs that are specifically designed to support people with disabilities and their family caregivers on their journey toward homeownership. While people with disabilities may be eligible for any of the 2,300-plus U.S. homebuyer assistance programs in DPR’s database, 18 are specifically developed to promote accessibility and inclusivity for aspiring homeowners with disabilities. 

People with disabilities represent about 15% of the world’s population, spanning all ages, races, ethnicities, genders, sexual orientations, religions and socio-economic backgrounds. Disability Pride Month originated in the U.S. to commemorate the passing of the landmark Americans with Disabilities Act (ADA) in July 1990. The observance seeks to change the way people think about and define disability, to promote the idea that being disabled is a natural part of human diversity and raise awareness of the challenges that people with disabilities face every day.

Program funds can be used for a variety of purposes such as down payments or closing costs. Many of the programs can be combined with other homebuyer assistance programs, providing individuals with disabilities additional financial support and resources.

An analysis of the 18 programs showcases the range of assistance available to promote homeownership for people with disabilities:

• Financial assistance range: The programs offer homebuyer assistance ranging from $2,000 to $117,000.
• Availability: The programs are offered regionally in eight states and the District of Columbia. A financial assistance program is offered nationally by the Department of Veterans Affairs (VA).
• Accessibility modifications: Funding from two programs can be utilized to support accessibility modifications, ensuring homes are tailored to the unique needs of individuals with disabilities.
• Program types: By type, the homeownership assistance programs available are three affordable first mortgages, 12 second mortgage programs, two grant programs and one combined assistance program.
• Homebuyer status: Four assistance programs are open to repeat buyers and four first-time buyer programs offer an exemption for Veterans so they can apply regardless of previous homeownership.

“We believe all Americans should have access to safe, affordable housing and these targeted programs are making homeownership possible for disabled buyers who otherwise thought they couldn’t afford to buy, or renovate, their home,” said DPR Founder and CEO Rob Chrane. “These programs can help buyers qualify for a mortgage and make changes to the home, like installing handrails, a chair lift or ramps, to make it easier for them to live there.”

About Down Payment Resource:Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,300 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders and MLSs, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

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Looking to purchase a home?  Find down payment programs in your area today and see if you’re eligible!

May is Military Appreciation Month, a time we set aside to honor and recognize the contributions and sacrifices of the men and women who have served and are currently serving in the U.S. Armed Forces.

In addition to Armed Forces Day (Saturday, May 18, 2024) and Memorial Day (Monday, May 27, 2024) this month we’re celebrating Silver Star Banner Day (May 1), VE Day (May 8), Military Spouse Appreciation Day (May 10, 2024), and Maritime Day (May 22). 

Using Your Entitlement

One benefit of military service is the VA home loan, a type of mortgage guaranteed by the U.S. Department of Veterans Affairs and issued by private lenders. For those able to qualify, VA home loans offer three distinct advantages for buying or refinancing a home:

• No Down Payment — with a VA home loan you can put zero down (although there may be advantages to making a down payment)
• Lower Payments — VA loans offer competitive interest rates with no private mortgage insurance (although a funding fee is required unless the applicant meets certain conditions)
• Easier to Qualify — VA loans can provide homeownership opportunities for veterans and servicemembers who might not qualify for conventional financing

In addition to saving money with a VA loan, you can often qualify for down payment assistance that can be used in a multitude of ways to make buying a home more affordable.

Finding Assistance

Down Payment Resource maintains a database of all 2,300+ assistance programs that can be searched for free. Within this extensive resource, about 40 programs include options for active-duty servicemembers, 51 target veterans, and 13 are open to surviving spouses. 

Each program is unique in how financing is structured and what you’ll need to qualify. For most programs you’ll need a minimum credit score of 620 or higher and an income that meets the program’s requirements. Many programs also consider your debt-to-income ratio (DTI), which is the percentage of your gross monthly income you use each month to cover the cost of auto loans, credit cards, student loans and other recurring debt.

Some programs are restricted to first-time buyers, although this requirement is often waived for servicemembers and Veterans, and many will require buyers to complete a homeowner education course.

A Closer Look at Three Programs

To give you an idea of what’s available, we looked at representative programs from our database, targeting segments of the military.

Active Duty

The City of Greensboro’s Housing Connect GSO’s Homebuyer Assistance Program is a source of financial assistance for low- and moderate-income first-time homebuyers. One of its subprograms focuses on assistance for Public Service Heroes, including active duty servicemembers and veterans, National Guard members and those in the Coast Guard. To qualify, you do not need to be a current resident of Greensboro (NC) but you must be purchasing a new or existing home within the city limits. Additionally, your income needs to be above 80% and below 120% of the area median income. Accepted applicants receive up to $15,000 toward their home purchase, with a $10,000 bonus available to those buying in a designated reinvestment or redevelopment area. 

For more information, visit the program website.

Veterans

The City of Westlake (FL) Housing Assistance Purchase Program is an affordable and workforce housing assistance purchase program to maintain the economic and social sustainability of housing supply within the city limits at various income limits. Veterans, defined as those who served in the active military and honorably discharged or released, can qualify under this program for a 10-year deferred loan of up to $60,000 in assistance based on income, plus they may qualify for additional 3% of the purchase price to be used toward the home purchase. There is no maximum home price but buyers may have incomes of no more than 140% of the HUD AMI.

For more information, visit the program website.

Veterans & Surviving Spouses (Veterans, Active Duty & Gold Star Family members)

The Atlanta Neighborhood Development Partnership (ANDP) renovates properties to sell to low- to moderate-income homebuyers. Its Veterans Program offers up to $15,000 in homebuyer assistance toward the purchase of affordable new and newly renovated homes in the Atlanta region. These homes listed for sale have a two-week “first look” period when only offers from veterans or active duty buyers are accepted. To qualify, you must not own another home and purchase the ANDP home as your primary residence. You do not need to be a first-time buyer. You will need an income at or below 120% of the AMI and to complete a HUD-approved homebuyer education course. Veterans interested in purchasing a home through the ANDP Veteran Program are required to use one of the program’s approved lenders. 

For more information, visit the program website.

Looking to purchase a home?  Find down payment programs in your area today and see if you’re eligible!

Owning a home is a dream for many, but the financial hurdles of buying a house can often feel insurmountable. One major obstacle is the down payment, typically a significant upfront cost that can deter prospective buyers. However, there’s good news: over 2,300 down payment assistance programs exist across the U.S. to help make homeownership more accessible. In this guide, we’ll explore how these programs work and how you can apply for them.

Understanding Down Payment Assistance Programs

Down payment assistance programs are initiatives offered by various entities, including government agencies, non-profit organizations, and even employers. Their primary goal is to provide financial support to qualified homebuyers, typically in the form of grants, loans or tax credits, to help cover a portion or all of the down payment and sometimes closing costs.

These programs vary widely in terms of eligibility criteria, funding availability, and the amount of assistance offered. Some programs are specifically tailored to first-time homebuyers (40% of programs do not have a first-time homebuyer requirement), while others may target certain demographics or geographical areas. It’s essential to research the specific programs available in your area to determine which ones you may qualify for.

How Do Down Payment Assistance Programs Work?

While the specifics can vary, the general process of accessing down payment assistance typically involves the following steps:

1. Research and Determine Eligibility: You can use the free Down Payment Resource search tool to find available programs and determine your eligibility based on factors such as income, credit score, and home purchase price. 
2. Apply for Assistance: Once you’ve completed your search, you can connect with a mortgage lender and get pre-approved. Or, if you already have a lender in mind, you share your results with your loan officer and complete an application. The application process may involve providing documentation such as pay stubs, tax returns, and bank statements to verify your financial situation. We’ve outlined a few important questions to ask your mortgage lender that can help you get started.
3. Attend a Homebuyer Education Course: Most down payment assistance programs require applicants to complete homebuyer education courses, especially first-time buyers. These courses can be done in-person or virtually and provide valuable information about the homebuying process, financial management, and homeownership responsibilities.
4. Receive Approval and Assistance: If your application is approved, you’ll receive confirmation of your eligibility and details about the assistance you qualify for. This assistance may come in the form of a grant, forgivable loan, low-interest loan or tax credit, depending on the program.
5. Purchase Your Home: Keep in mind that some assistance programs may require you have a home in mind before applying. That’s why it’s essential to work closely with your lender and real estate agent to ensure a smooth transaction.
6. Comply with Program Requirements: Most down payment assistance programs have specific requirements that you must meet to maintain eligibility. For example, you will need to occupy the home as your primary residence for a certain period or fulfill certain homeownership responsibilities.

Tips for Applying for Down Payment Assistance Programs

Navigating the world of down payment assistance programs can seem daunting, but with careful planning and research, you can increase your chances of success. Here are some tips to help you along the way:

• Start Early: Begin researching down payment assistance programs well in advance of your planned home purchase. Some programs have limited funding and may have waiting lists or application deadlines.
• Improve Your Credit Score: A higher credit score can increase your chances of qualifying for assistance and securing favorable terms. Take steps to improve your credit by paying bills on time, reducing debt, and correcting any errors on your credit report. 
• Gather Documentation: Be prepared to provide documentation of your income, assets, and financial history when applying for assistance. Having this information readily available can streamline the application process.
• Seek Professional Guidance: Consider working with a HUD-approved housing counselor, mortgage lender or real estate professional who has experience with down payment assistance programs. They can help you navigate the process and identify the programs that best suit your needs.
• Stay Informed: Keep abreast of changes to down payment assistance programs and eligibility requirements in your area. Subscribe to newsletters, attend workshops, and regularly check program websites for updates.

What Are You Waiting For?

Down payment assistance programs can be a valuable resource for prospective homebuyers, helping to make homeownership more attainable. By understanding how these programs work, you can increase your chances of successfully accessing assistance and achieving your goal of owning a home. With careful planning and diligence, the path to homeownership can become a reality.

Find down payment programs in your area today and see if you’re eligible!

Owning a home has been shown to be one of the most effective ways Americans can build generational wealth. 

Although equal access to housing is a civil right, systemic racism within housing finance institutions has kept communities of color from accessing equal housing opportunities. In fact, the gap between Black families who own a home and white families has persisted over the years and is widening. In 1976, 69% of white families owned a home, while 44% of Black families owned a home, a gap of 25%. In 2022, 75% of white families owned homes, while 45% of Black families owned a home, a gap of more than 30%. 

Challenges to Black Homeownership

Many factors contribute to this disparity and make the racial ownership gap difficult to close. 

First, the average income for Black households is lower than for white households. According to Census Bureau numbers, the median income for Black households in 2023 was $52,860. That’s more than $28,000 less than the $81,060 median income for white households.

Plus, less of that income is considered to be disposable. According to the National Association of Realtors, Black homeowners spend more of their income to own their homes than all racial groups, with 30% being cost-burdened, meaning they spend more than 30% of their income on housing. If they’re paying rent, that money is going into their landlords’ pocket rather than if they were paying a mortgage and building equity through homeownership. Black Americans also are more likely to be unbanked.

These factors make it difficult for Black and other minority homebuyers to qualify for a mortgage. In 2022, Black and Hispanic applicants experienced denial rates of 16.4% and 11.1% respectively, while the denial rate for white applicants was 5.8%. 

Overcoming Barriers 

The good news is there are many loan programs that can help increase Black homeownership. 

For starters, there are lending programs for low-income homebuyers with low down payment requirements, such as FHA mortgages, which typically require 3.5% down, and VA and USDA mortgages, which can require as little as zero down. 

Homebuyers should always “shop around” for a mortgage to find the best terms. A Fannie Mae study found one-third of recent homebuyers get a single mortgage quote in spite of having online resources for finding multiple lenders and comparing quotes. By comparing offers from different lenders, homebuyers can select the offer with the best rate and fees, making their purchase more affordable.

Finally, homebuyers should learn about down payment assistance (DPA) programs in your area and be sure to apply for DPA early in the buying process (your real estate agent or lender can help or search our online database). This is especially important for low-income and minority buyers. A 2023 poll by Keybank of 1,000 homeowners who earned less than $75,000 annually found nearly one-third (31%) did not seek out any information or resources on homebuyer assistance programs. 

The Impact of Down Payment Assistance

Having more money for the down payment or other mortgage costs could make a huge difference. Down Payment Resource partnered with Urban Institute to look at loan activity in the nation’s top 10 metros. The study found that DPA could have potentially salvaged the loans of about 46,000 denied applicants (30.7%) since it would have lowered the loan amount for a more favorable debt-to-income ratio (DTI) or provided cash to meet the necessary cash-to-close (CTC) requirement. 

Down Payment Resource recently reexamined the study data to look at homebuyer assistance program eligibility by race. We found that 54.7% of Black homeowners could have been eligible for homebuyer assistance. Breaking this down by loan type, 79.8% of Black homebuyers financing with FHA loans would have been eligible for DPA. Notably, the number of homebuyers eligible for DPA is substantially higher than those who used a form of DPA to finance their homes. This gap in DPA use affects a significant number of Black homebuyers who could have saved tens of thousands of dollars on buying a home, and Black mortgage applicants who could have been approved with DPA.

Focusing on the Future

This Black History Month, let’s honor the legacy of resilience and strength within the Black community by championing a path to homeownership for more Black families. 

After all, homeownership isn’t just about owning property; it’s about securing a foundation for generational wealth, stability and pride. Let’s also recognize the importance of economic empowerment. By owning homes, Black families can break barriers, build equity and shape their own future.

Looking to purchase a home?  Find down payment programs in your area today and see if you’re eligible!

By partnering with the Atlanta Neighborhood Development Partnership, DPR is making the holidays a little merrier for one local homebuyer working with the agency

ATLANTA, Ga., Dec. 18, 2023 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting home buyers with homebuyer assistance programs, today announced a $10,000 donation to the Atlanta Neighborhood Development Partnership to be used as a grant to help an eligible homebuyer working with the local nonprofit housing agency.

“Atlanta is ranked first in home price appreciation (68.6%) and fourth in rent increases (30%) according to data reported by the Atlanta Regional Commission data, factors that make it even harder for first-time homebuyers to get their foot in the door,” said DPR Founder and CEO Rob Chrane. “We are proud to partner with ANDP to help a local homebuyer have a homeownership stake in their community. We want to do all we can to tip the scales in favor of homeownership, particularly among traditionally underserved buyers.”

ANDP develops, finances, and advocates for affordable housing that promotes racial equity and healthy communities where families thrive. The grant funded by DPR is intended for a buyer whose income is at or below 80 percent of the area median income (AMI) and not receiving additional financial assistance from ANDP. The funds can be used for down payment or closing costs (including a rate buydown) on the purchase of an ANDP property. 

“We are pleased to receive donations year-round, but there’s something special about gifts received during the holidays that just makes this gift very special. We appreciate the ongoing support of DPR, especially in these times when buying a home may seem out of reach for many,” said John O’Callaghan, president and CEO of ANDP. “Gifts like these restore hope for our clients and help them take that all-important step toward building generational wealth through homeownership.”

About ANDP:

ANDP was created in 1991 as a result of the merger of the Metropolitan Atlanta Chamber of Commerce’s Housing Resource Center and the Atlanta Economic Development Corporation’s Neighborhood Development Department. The impetus for ANDP’s creation was to address the diminishing supply of affordable housing in the Metropolitan Atlanta region as well as to help reclaim declining neighborhoods in its core. Throughout its history, ANDP has supported the creation of more than 11,000 units of housing for people of low-to-moderate incomes. For more information, visit the ANDP Homes website.

About Down Payment Resource:Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises 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 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

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Looking to purchase a home?  Find down payment programs in your area today and see if you’re eligible!

DPR reports on programs from its national down payment assistance database for Veterans Day and Military Family Appreciation Month

ATLANTA, Ga., Nov. 10, 2023 — Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, is highlighting homebuyer assistance programs to support Veterans, service members and their surviving spouses in conjunction with Veterans Day and Military Family Appreciation Month, both observed in November. While service members are eligible for any of the 2,200-plus U.S. homebuyer assistance programs, DPR found there are 61 programs offering up to $120,000 in assistance specifically developed to help them build, buy or make accessibility-related home renovations.

According to the Urban Institute, 78 percent of Veteran households were homeowners, 14 percentage points higher than the total population. Active-duty service members, who are often relocated every few years, had a homeownership rate of 43 percent. Military families are not only challenged by frequent relocation (Permanent Change of Station or PCS orders) but are struggling financially in a housing market with rising home prices and mortgage interest rates the highest seen since 2000. Results from the Blue Star Families’ Military Family Lifestyle Survey indicate that housing costs and relocation issues have become increasingly stressful and expensive for service members in recent years, making assistance with down payment and other purchasing costs even more essential.

An analysis of the 61 programs showcases the range of assistance available to promote homeownership among Veterans, active-duty service members and their surviving spouses:

• Financial assistance range: The programs offer homebuyer assistance ranging from $2,000 to $120,000.
• Program types: The homeownership assistance program types consist of 24 second mortgage programs, 18 affordable first mortgage programs, 15 grants, and one each below market rate (BMR)/resale restriction program, combined assistance program, voucher program and other assistance type.
• Repayment features: Twenty-four programs offer forgivable assistance, provided that all program conditions, such as owner-occupancy, are met. Fifteen programs are given as gifts with no strings attached provided eligibility criteria are met. 
• Program eligibility: Thirty-five programs are for first-time buyers, while 34 are open to repeat buyers or provide a waiver for service members and Veterans.

“Having assistance to buy now, even when interest rates seem high, can help our service members start to build equity, enjoy a sense of community, and have an asset they can keep or sell if they receive PCS orders,” said DPR Founder and CEO Rob Chrane. “We are extremely grateful to our Veterans, service members and their families and hope these programs can unlock the doors to homeownership and all the benefits it brings.”

Individuals can search for their homebuyer assistance program eligibility for free at https://downpaymentresource.com/are-you-eligible/. 

Methodology:

DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE® database for programs with incentives for people with disabilities. The DOWN PAYMENT RESOURCE® database tracks the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs using data sourced from more than 1,300 housing finance agencies (HFAs), municipalities, nonprofits and other housing organizations. Homebuyer assistance programs of all types are tracked, including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises 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, https://downpaymentresource.com/.

Analysis finds 42 programs in 14 states offering up to $90,000 in assistance designed to help Native Americans purchase a home

ATLANTA, Ga., Oct. 23, 2023 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting home buyers with homebuyer assistance programs, is highlighting 42 U.S. homebuyer assistance programs in 14 states that are specifically designed to support Native Americans (American Indians and Alaska Natives) in conjunction with Native American Heritage month. While Native Americans are eligible for any of the 2,200-plus U.S. homebuyer assistance programs, these programs were specifically developed to provide help with down payments and/or other home-buying costs for Native American homebuyers. 

The Harvard Joint Center for Housing Studies reports that 56.7 percent of Native American households own their homes, a full 15.0 percentage points lower than white households. While the federal government is responsible for providing funding for housing programs on tribal lands, historically this funding has been insufficient, according to the National Indian Council on Aging. Native Americans have faced numerous obstacles when it comes to homeownership, says the Council, including high unemployment rates and poverty, with only 8 cents of wealth for every dollar of the average white American household. 

An analysis of the 42 programs showcases the range of assistance available to promote Native American homeownership. 

• Eligibility: Most programs are limited to members of federally recognized tribes for purchasing homes on reservations or within specified service areas.
• Financial assistance range: The programs offer homebuyer assistance ranging from $2,125 to $90,000.
• Income requirements: Ten programs have no income requirements. Thirty-two programs have income requirements that range from 80% to 120% of the Area Median Income. 
• Availability: Assistance programs are offered in 11 states and the District of Columbia. The states with the most programs are Oklahoma (13), Michigan (9) and Oregon (4). Sixteen programs are statewide, and 25 are local. 
• Program types: The homeowner assistance programs encompass various types, including 33 second mortgage programs, seven grant programs and two matched savings programs. Twenty-three programs are for first-time homebuyers only, and 19 programs can be accessed by repeat buyers.
• Forgivable programs: Thirty-six of the programs offer forgivable assistance, provided that all program conditions, such as owner-occupancy, are met, further alleviating the financial burdens for aspiring homeowners.

“Native Americans continue to face hardships that can delay or prevent them from becoming homeowners, which is an important pathway to economic prosperity and community development,” said DPR Founder and CEO Rob Chrane. “It’s my hope that mortgage ready Native Americans will access our database to find programs specific to their tribe and region that can provide them with the resources and support they need to achieve homeownership.”

Individuals can search for their homebuyer assistance program eligibility for free at https://downpaymentresource.com/are-you-eligible/. 

Methodology:

DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE® database for programs with incentives for people with disabilities. The DOWN PAYMENT RESOURCE® database tracks the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs using data sourced from more than 1,300 housing finance agencies (HFAs), municipalities, nonprofits and other housing organizations. Homebuyer assistance programs of all types are tracked, including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages.

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 tool sets 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 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Down Payment Resource (DPR) started in 2008 with a small but very dedicated team committed to making it easier for homebuyers to find down payment assistance programs. In the early years, our team traveled to partner sites to develop the rapport and trust that would serve us well as we grew our database to cover the entire U.S. with more than 2,300 programs from over 1,300 agency partners.

As we’ve grown, our commitment and laser-focused effort on quality is stronger than ever.

This month, we’d like to introduce you to Kris Case, Adam Goodman and Tracy McIntosh who work behind the scenes to keep our technology systems running and onboard new business partners in the mortgage, real estate and housing finance agency spaces.

Each of these team members has a unique background that positions them to provide top-notch support to our ever-growing customer and partner base. With their widespread expertise, DPR is better equipped to champion innovative tools, strategies and programs that make homeownership more affordable and accessible for everyone.

So, without further ado, let’s meet these three members of the DPR team!

Kris Case, DPA Program Specialist 

Kris has been with DPR for more than 12 years and previously worked as a writer reviewing records and concerts for music publications and contributing interviews, advertorials and feature articles to The Arabian Horse Times, an Arabian horse publication.

She also worked for Neodata/Centrobe, a marketing communications services firm that integrated with E.D.S., making it one of the world’s largest direct marketing services companies. In her role as an account manager in the company’s publishing fulfillment division, she worked with clients like Conde Nast Publications, Meredith Corporation, US News and World Report and the United States Postal Service. 

At DPR, Kris works with management to organize and administer various company initiatives, taking full advantage of her skills in qualitative and quantitative research. Kris earned her degree in political science from Middle Tennessee State University.

What’s a personal accomplishment you’re particularly proud of?

I enjoy helping, healing, training and working with animals, especially those that have been abused, injured, or are fearful with no experience with humans, including wild horses that were captured by the Bureau of Land Management. 

What’s your favorite way to spend a day off work?

I enjoy playing with my Chihuahua and re-watching Game Of Thrones episodes for the hundredth time.

If you could travel anywhere, where would you go and why? Or, what is the best place you’ve visited and why?

If I could choose to travel anywhere, it would be to Ireland. I’d love to walk around all the historical places and see what it feels like to be there. The best place I’ve visited/lived is the Santa Ynez Valley in California. It’s beautiful and felt like heaven to me.

Adam Goodman, Software Engineer

Adam Goodman is a skilled software engineer who helps keep our technology up and running smoothly for consumers and business partners. As a full-stack developer, Goodman can build both the front end (the parts of a website a user sees and interacts with) and the back end of a website (the behind-the-scenes data storage and processing). These two areas of web development require different skill sets. Adam brings both to the equation as well as being well-versed in Ruby on Rails, a server-side web application framework.

Adam has been with DPR for two years. He graduated from Florida State University with a Bachelor of Science degree in Applied Economics in 2015 and is currently pursuing his Master of Science from Kennesaw State University.

What’s a personal accomplishment you’re particularly proud of?

Teaching myself programming and making a career out of it. 

What do you enjoy most about your job? 

I enjoy the freedom I have here to be creative and solve problems independently. 

What’s your favorite way to spend a day off work? 

I like to do a morning workout, and then it’s off to the golf course or beach. Preferably both! I also enjoy basketball.

If you could travel anywhere, where would you go and why? Or, what is the best place you’ve visited and why?

My favorite travel experiences were driving from Connecticut to Florida every fall semester during college with my dad and stopping all along the East Coast to visit different gyms and golf courses.

If you could have a superpower, what would it be and why?

Super speed for sure. There are never enough hours in the day to do everything I want to do.

What’s your dream house?

It would be on a private lot, with a wraparound porch and an ocean view. Also, an indoor golf simulator.

Tracy McIntosh, Business Coordinator

Tracy brings a unique skillset to the DPR team, with an extensive background in planning, designing, coordinating and running events of all types including large-scale corporate events, weddings and more.

“These previous experiences have helped me tremendously with my role at DPR,” Tracy explains. Specifically, she says, in those roles she learned to help people through her creativity and organizational skills. “I genuinely want to provide outstanding customer care. Helping others is a major component for any job I’ve ever had and I love that I’ve gotten to do that with lenders, agents and homebuyers here,” she says.

Tracy has been with DPR for about two years. In her role as business coordinator, she is responsible for organizing, managing and administering various interdepartmental tasks and technologies.  

What are your hobbies? 

Coming from an event background with an innate desire to be creative, I love planning and hosting themed parties. I also developed a passion for poetry when I was in high school and still to this day enjoy writing my own pieces as well as reading others.

What do you enjoy most about your job? 

There’s so much to love about working here at DPR, but nothing will ever top how much I love helping others here. I grew up in a family that wasn’t wealthy and struggled to make ends meet, but excelled in providing love. I see my family in every deserving homebuyer wanting desperately to get into a home but doesn’t have the wealth to back it up. I’m fortunate enough to work with an extraordinarily talented, intelligent team of people who all have giving hearts. Being surrounded by them helps me to provide the type of customer service and attention that’s important to me. 

What’s your dream house?

Entertaining and having a welcoming home is important to me. My dream house would be large enough that I could host gatherings with family and friends. It would be at the beach with views of the ocean and I’d be able to watch and hear the waves. I dream of watching the sunset at the end of each day as I walk the beach and feel the tide rush against my feet.

Interested in learning more about our all-star team? Meet three more DPR VIPs — Amy, Rick and William!