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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Down Payment Resource builds tools that help mortgage lenders, real estate agents, multiple listing services and consumer listing sites build relationships with homebuyers by connecting them with the homebuyer assistance they need.

To learn how Down Payment Resource can help you support homebuyers, contact us.

Homeownership provides people with disabilities a sense of independence and empowerment. It gives them greater control over their living environment, and makes it possible to invest in long-term accessibility modifications that tailor their homes to meet their unique needs. This autonomy fosters self-confidence, dignity and a greater sense of belonging within the community.

While people with disabilities may be eligible for any of the 2,300-plus U.S. homebuyer assistance programs, there are 23 programs offering up to $109,986 in assistance that are specifically designed to help individuals with disabilities purchase a home.

In celebration of Disability Pride Month, join us as we spotlight a few of the programs that serve as stepping stones towards homeownership for people with disabilities.

Washington State Housing Finance Commission: HomeChoice Down Payment Assistance Program

The HomeChoice down payment assistance (DPA) program offers up to $15,000 in DPA for low-to-moderate income people with disabilities or people who have a family member with a disability living with them. HomeChoice DPA takes the form of a deferred, second mortgage with a 1.00% interest rate. The program is designed to be layered with other WSHFC affordable first mortgage programs.

Borrowers leveraging HomeChoice DPA must complete a WSHFC-sponsored homebuyer education seminar and finance through a participating lender. 
Full program details can be found on the WSHFC website.

United States Department of Veterans Affairs: Specially Adapted Housing Grant

The Specially Adapted Housing (SAH) grant provides funds for veterans and service members with service-related disabilities to buy, build or modify an existing home to meet their accessibility needs and live more independently. Qualifying applicants can receive up to $109,986 in funds, which do not need to be repaid. SAH grant recipients who are temporarily living in a family member’s home that requires accessibility modifications may also be eligible for a Temporary Residency Adaption grant. 

Visit the SAH website for more information. 

Maryland Department of Housing and Community Development: HomeAbility

The HomeAbility program provides up to $45,000 in down payment and closing cost assistance for Maryland homebuyers with disabilities and their family caregivers. The assistance takes the form of a second mortgage with a 0% interest rate that is deferred for the life of the loan. The HomeAbility program must be combined with an MDHCD first mortgage program. To be eligible, borrower income may not exceed 80% AMI. 

Visit the MDHCD website for more information and eligibility requirements. 

Connecticut Housing Finance Authority: Home Of Your Own 

The CHFA Home of Your Own (HOYO) program provides below market rate first mortgage loans to people with disabilities and households with a family member who has a disability. The program can be used to purchase single-family homes, some 2-4 unit homes, townhouses and condominiums. Borrowers may layer HOYO with a CHFA DAP, a DPA loan, which offers reduced rates for people with disabilities. 

Full program details can be found on the My Place CT website.

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