February 9, 2015
Down payment help widely available
- The report expanded to include 2,290 programs, up nearly 100 programs from the September 2014 index.
- Programs from over 1,200 separate housing agencies and program providers are included.
- 18 programs are available nationwide.
- 24 percent of programs are available state-wide, not specific to a county or neighborhood.
- Approximately 91 percent (90.6%) of programs have funds available for homebuyers, down slightly from September (91.7%).
- This quarter’s report saw an increase in Mortgage Credit Certificates (MCC) and Combined Assistance programs, which combine a first mortgage with down payment and closing cost funds.
- Many of these programs can be layered with each other and can often be used with most loan products, including VA and FHA.
- More than 14 percent of programs are special opportunities available exclusively for veterans, buyers with a disability and other professions or special circumstances.
- The South leads the nation in the total number of available homebuyer programs, followed by the West.
- The states with the greatest number of down payment programs are California, Florida, Texas, Maryland, New York, Georgia, Pennsylvania, Massachusetts, Illinois and Colorado.
Read the full index summary.
Related: View joint analysis with RealtyTrac on the availability of down payment programs across the country.
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