A total of 2,746 down payment assistance programs were active nationwide during the second quarter, an increase of 67 programs from the prior quarter.
According to data from Down Payment Resource (DPR), grant programs that do not require repayment rose by 6% from the first quarter to the second quarter, totaling 234 programs that represented 9% of all program types.
DPR also noted that 80% of the second quarter’s programs supported new construction and 93% supported existing construction. Furthermore, 62% of programs allowing income limits above $100,000, and 291 programs carried no income restrictions.
Programs supporting manufactured homes increased to 1,089, representing 40% of all programs, a gain of 3% from the first quarter.
“Quarter after quarter, the universe of available programs keeps expanding, and so does the flexibility they offer,” said Rob Chrane, DPR founder and CEO. “The surge in grant programs is a good example. These aren’t resources for a narrow slice of buyers. They’re mainstream financial strategies that lenders and real estate professionals should be putting in front of every qualified borrower.”
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