More Homebuyer Down Payment Assistance Programs
Each quarter, the Homeownership Program Index (HPI) report examines data from the DOWN PAYMENT RESOURCE® database to uncover noteworthy changes and trends in U.S. homebuyer assistance programs.
83.5% of all homebuyer assistance programs are actively funded and available. Down Payment Resource's Q1 2023 HPI revealed a 0.5% uptick in the number of homebuyer assistance programs available.
Breakdown of down payment assistance programs
Here is a breakdown of the homebuyer down payment assistance programs added last quarter:
By assistance type: Community seconds saw the largest growth, with seven programs added. Six grants, five combined down payment assistance programs, three deed restriction programs, three first mortgage programs, three deed programs and one rehabilitation program were also added.
By region: There was a 2.4% increase in statewide programs, a 0.5% increase in programs supporting home purchases in defined locales and a 1.4% decrease in nationwide and multi-state programs. Programs supporting homebuyers in Pacific states saw the largest percent growth of any region, increasing by 1.5%.
By funding source: Community Development Block Grant (CDBG) programs saw the largest cumulative growth overall with 13 CDBG-funded programs added, a quarterly increase of 5.7%. Other funding sources that saw a notable increase in the number of programs available were to-be-announced (TBA) programs, which increased by 4.3%, Florida’s State Housing Initiatives Partnership (SHIP) programs, which increased by 4.1%, and assistance backed by the California Department of Housing and Community Development (CalHome), which increased by 2.3%.
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