Number of down-payment-assistance programs grows in 3Q.

PositionNEWS ROOM - Brief article

Atlanta-based Down Payment Re source announced in early October that an index it keeps shows the volume of programs providing homeownership assistance rose in the third quarter to more than 2,400. That was the fourth straight increase in such programs, which the group tracks through a databank of national homebuyer programs.

In an Oct. 7 press release, the group also set out to debunk some myths about the availability of down-payment and closing-cost assistance programs. Two of the myths are that these programs are only for first-time buyers and that they are not widely available across the country.

Down Payment Resource noted that 37 percent of homeownership programs do not have a first-time buyer requirement. And while it's more common to restrict programs to first-time buyers, the definition of a first-time buyer is someone who has not owned a home in three years, the group said.

The organization...

To continue reading

FREE SIGN UP