A new bipartisan bill proposes tax-deferred savings accounts to help first-time homebuyers save for down payments. Individuals could contribute up to $10,000 annually, and couples up to $20,000, with funds used for down payments or closing costs. The measure aims to address affordability challenges as the median age of first-time buyers rises to 40, delaying homeownership and reducing market...
Middle-class families earning around $83,000 to $100,000+ now qualify for many down payment assistance programs as home prices rise. Over 2,000 options exist nationwide, with average benefits around $18,000 to help with down payments and closing costs. Programs often require working with approved lenders and may have resale or repayment rules. Shopping multiple lenders and completing required education...
Down Payment Resource released its Q4 2023 Homeownership Program Index report, showing a 6% increase in homebuyer assistance programs. The report highlights trends in program expansion, including support for manufactured homes, multi-family properties, and specific buyer demographics. The report also provides detailed findings on the types and funding sources of these programs. Continue to full...
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