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Homebuyer Assistance Programs Continue to Grow

Down Payment Resource [1] (DPR) has announced findings from its latest Homeownership Program Index [2] (HPI), while the firm’s analysis of 2,273 homebuyer assistance programs in its DOWN PAYMENT RESOURCE database revealed that the net number of homebuyer assistance programs increased by 1.6% from Q1 to Q2 2022. This marks the third consecutive quarter the number of homebuyer assistance programs has grown.


The Q2 2022 HPI examined a total of 2,273 homebuyer assistance programs that were active as of July 5, 2022.

Key findings are as follows:

“Despite a slight increase in the number of inactive and suspended programs, our analysis indicates that opportunities for homebuyer assistance are continuing to grow,” said DPR CEO Rob Chrane. “With inflation reaching 40-year highs, aggressive interest rate hikes and limited housing inventory, connecting consumers with financial support for down payment and closing costs is more important than ever. In this especially challenging housing market, program providers are finding creative ways to help qualified homebuyers overcome economic obstacles and achieve the long-term financial benefits of homeownership.”


Breakdown of New Programs

A breakdown of the homebuyer assistance programs added last quarter are as follows:

The number of inactive and temporarily suspended homebuyer assistance programs grew in Q2 2022, but this minor decrease in available funding was offset by the 35 programs added in the same timeframe. With inflation reaching its highest point in 40 years amid rising interest rates, expanding homeownership accessibility through down payment and closing cost assistance are important to serving homebuyers in these market conditions.


Further analysis of the Q2 2022 HPI findings, including infographics, examples of the programs described, and methodology can be found on DPR’s website here [2].