A new report on credit access and affordability by the Urban Institute’s Housing Finance Policy Center commissioned by Down Payment Resource and Freddie Mac shows how many homebuyers could have taken advantage of down payment assistance and other affordable lending programs in 2016.
The Barriers to Homeownership: Down Payments, Credit Access, and Affordability report provides data and commentary on three significant barriers to homeownership: saving for a down payment, accessing mortgage credit and housing affordability.
The report also offers information about down payment assistance programs which can help borrowers overcome that barrier. It includes an interactive map of the U.S. which allows users to compare 16 housing market factors, including homeownership programs, between states. keep reading