Homebuying Success During a Pandemic

Buying a home is more challenging than ever in today’s Pandemic-driven housing market.  While mortgage rates are historically low, so is inventory.  Housing prices in the U.S. are up an average of 4% vs. last year at this time, and many markets are consistently experiencing overbids and multiple offers.  

This doesn’t mean first-time buyers should give up on buying a home, but it does take more planning, time, and effort.  Given below are some tips to help you more easily navigate the process. keep reading

Latest HPI Reveals the Impact of COVID-19 on Homeownership Programs

Down Payment Resource, the nationwide database for homebuyer programs, today released its Third Quarter 2020 Homeownership Program Index (HPI). The number of total programs is 2,340, and over 81 percent (81.1%) of programs currently have funds available for eligible homebuyers, down a little less than 2 percent from the previous HPI. 

Down Payment Resource (DPR) communicates with 1,138 program administrators to track and update the country’s wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates (MCCs), affordable first mortgages and more.  keep reading

The Importance of Down Payment Programs in a Pandemic

Economists agree that the real estate business has recovered faster than expected during the pandemic. A continued lack of inventory, low mortgage rates, and pent-up demand are all contributing factors to a robust market.

The good news for homebuyers is that down payment assistance is still available, with many program providers offering online and virtual support/education. With an average benefit of $13,000, these programs can help make the difference in achieving homeownership when competition is fierce. keep reading