The second quarter of this year saw the debut of 45 new homebuyer assistance programs. a 2% increase from the first quarter.
According to the latest Homeownership Program Index report published by Down Payment Resource (DPR), there are currently 2,554 homebuyer assistance programs operating today — a new record — and 1,340 program providers. Within the current programs, 967 (38%) are available to repeat buyers. 257 programs (10%) do not have income restrictions, and 31 support first-generation homebuyers.
“With home prices rising and interest rates still hovering close to 7%, prospective homebuyers are feeling the pinch heading into the summer, traditionally a very active homebuying season,” said Rob Chrane, founder and CEO of DPR. “Even with these market headwinds, we are heartened to find more assistance programs than ever — at least one in every US county and 2,000 counties with 10 or more — helping lenders qualify eligible buyers and close more loans in this tough market.”
These programs are meant to cause another 2008. The people pushing these programs aren’t wrong, they are either on USAID or trying to crash the economy again.
This is unconstitutional THEFT of taxpayer money!!!
An agent just brought me an offer on my listing with vouchers paying her mortgage. she had been renting & went through a home buying program, now is able to use her vouchers for a house. We, the people are making her payments.
You all sound elitist. Read your comments again. Those funds are already appropriated by Congress; the representatives that you voted into office. Take it up with them if you have an issue with the government helping to give young couples and families starting out a chance at home ownership. SMH.