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Down Payment Assistance

NAMB, Chenoa Fund partner on down payment assistance access

Down Payment Assistance, Housing Market, HWmember, Mortgage, Mortgage Broker, NAMB /

The National Association of Mortgage Brokers (NAMB) has formed a partnership with the Chenoa Fund, a down payment assistance program, to help mortgage brokers better serve first-time and underserved homebuyers who struggle with upfront homebuying costs, the organizations announced on Wednesday. Through the collaboration, NAMB members will gain enhanced access to Chenoa Fund programs, tools […]

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HUD launches probe into Washington state down payment assistance program

Down Payment Assistance, Fair Lending, HUD, HWmember, Mortgage, Regulatory, Regulatory Compliance, Washington /

Washington state’s Covenant Homeownership Program is under investigation by the U.S. Department of Housing and Urban Development (HUD) over potential violations of the Fair Housing Act. HUD’s Office of Fair Housing and Equal Opportunity (FHEO) notified the Washington State Housing Finance Commission, which administers the program, of the probe on Tuesday. The investigation comes days

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Tapping a 401(k) for homeownership is risky business, experts say

Donald Trump, Down Payment Assistance, Home Prices, Homeownership, HWmember, Retirement, Reverse /

President Donald Trump has floated proposals to make it easier for Americans to pull from their 401(k) retirement accounts to buy a home — framing the idea as a way to boost homeownership and financial stability. But financial experts say the strategy could undermine long-term financial security, particularly as housing costs rise and retirement savings

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Trump’s 401(k) proposal could help homebuyers, hurt retirement funds

Affordability, Donald Trump, Down Payment Assistance, Homeownership, HWmember, LendingLife, Mortgage, Politics, Retirement, Trump administration /

President Donald Trump’s expected proposal to allow Americans to tap their 401(k) retirement accounts without penalties to fund down payments could ease one of the biggest barriers to homeownership, but it could come at the cost of weakening long-term retirement security. The idea was absent from Trump’s speech on Wednesday at the World Economic Forum

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How long does it take to save for a down payment in 2025?

Down Payment Assistance, Housing Market, Housing Market Data, HWmember, Realtor.com, VA Loan /

Even though down payments remain an obstacle to prospective homebuyers across the country, affordability conditions have improved significantly in the past three years. That’s the key takeaway from a Realtor.com report released Monday. The company found that across the 50 largest U.S. metro areas, the typical household in 2025 needs seven years to save for

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From rates to reality: why innovative homeownership alternatives matter now

Affordability, Contributors, Down Payment Assistance, Home Prices, Housing Market, HWmember, Mortgage Rates, Opinion, Real Estate /

For generations, the American Dream was synonymous with homeownership — a white picket fence, a backyard and the pride of owning a place to call your own. But today, that dream is undergoing a quiet transformation. With the national median home price now exceeding $426,000, according to NAR, the goal for many Americans has shifted

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Help exists for cash-strapped homebuyers — but many don’t know it

Affordability, Appraisal Institute, Covid-19, Down Payment Assistance, First-Time Homebuyers, Home Prices, Homebuying, Housing Market, HWmember, Inflation, Mortgage Rates, National Association of Realtors /

As home prices and mortgage rates continue to stretch budgets, many would-be homebuyers are wondering if they’ll ever be able to make the jump. Industry professionals say that creative financing tools and professional guidance can make homeownership more attainable, but a lack of awareness continues to stand in the way. Three voices from different corners

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Detroit’s new 40% down payment assistance program

Detroit, Down Payment Assistance, Guild Mortgage, Home Equity, HWmember, Michigan, Mortgage, Partnerships /

The Michigan State Housing Development Authority (MSHDA) announced on Thursday that it is partnering with the Tobias Harris Homeownership Initiative, Guild Mortgage and Homium on a pilot shared-appreciation mortgage program aimed at expanding access to homeownership in Detroit. The effort is backed by Detroit Pistons basketball player Tobias Harris. The mortgage product will provide qualified

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Click n’ Close pairs 5/1 ARM with down payment assistance for new homes

Adjustable-Rate Mortgage, Affordability, Down Payment Assistance, homebuilder, HWmember, Mortgage /

Mortgage lender Click n’ Close has rolled out a new financing product that pairs an adjustable-rate mortgage with down payment assistance in an effort to make new homes more accessible to buyers. The program — called the SmartBuy 5/1 ARM Down Payment Assistance product — offers a first mortgage alongside a repayable second mortgage. The

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Down Payment Resource reports record-breaking DPA availability

Affordability, Down Payment Assistance, First-Time Homebuyers, Homeownership, HWmember, Manufactured Housing, Mortgage, Mortgage Rates /

Down Payment Resource (DPR) on Tuesday released its Q2 2025 Homeownership Program Index report. It found that 45 new down payment assistance programs launched in the second quarter, bringing the total number of available programs in the U.S. to 2,554 and the number of program providers to 1,340. The number of programs is a new

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