Down Payment Resource Highlights 61 Down Payment Assistance Programs Offering Up to $120,000 in Funds for Veterans and Service Members
Analysis finds 42 programs in 14 states offering up to $90,000 in assistance designed to help Native Americans purchase a home
ATLANTA, Ga., Oct. 23, 2023 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting home buyers with homebuyer assistance programs, is highlighting 42 U.S. homebuyer assistance programs in 14 states that are specifically designed to support Native Americans (American Indians and Alaska Natives) in conjunction with Native American Heritage month. While Native Americans are eligible for any of the 2,200-plus U.S. homebuyer assistance programs, these programs were specifically developed to provide help with down payments and/or other home-buying costs for Native American homebuyers.
The Harvard Joint Center for Housing Studies reports that 56.7 percent of Native American households own their homes, a full 15.0 percentage points lower than white households. While the federal government is responsible for providing funding for housing programs on tribal lands, historically this funding has been insufficient, according to the National Indian Council on Aging. Native Americans have faced numerous obstacles when it comes to homeownership, says the Council, including high unemployment rates and poverty, with only 8 cents of wealth for every dollar of the average white American household.
An analysis of the 42 programs showcases the range of assistance available to promote Native American homeownership.
“Native Americans continue to face hardships that can delay or prevent them from becoming homeowners, which is an important pathway to economic prosperity and community development,” said DPR Founder and CEO Rob Chrane. “It’s my hope that mortgage ready Native Americans will access our database to find programs specific to their tribe and region that can provide them with the resources and support they need to achieve homeownership.”
Individuals can search for their homebuyer assistance program eligibility for free at https://downpaymentresource.com/are-you-eligible/.
DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE® database for programs with incentives for people with disabilities. The DOWN PAYMENT RESOURCE® database tracks the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs using data sourced from more than 1,300 housing finance agencies (HFAs), municipalities, nonprofits and other housing organizations. Homebuyer assistance programs of all types are tracked, including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages.
About Down Payment Resource:
Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With tool sets tailored for real estate agents, multiple listing services and mortgage lenders, DPR’s technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.