{"id":5209,"date":"2024-11-21T11:30:00","date_gmt":"2024-11-21T11:30:00","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2024\/11\/21\/dont-miss-out-on-the-growing-number-of-down-payment-assistance-programs\/"},"modified":"2024-11-21T11:30:00","modified_gmt":"2024-11-21T11:30:00","slug":"dont-miss-out-on-the-growing-number-of-down-payment-assistance-programs","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2024\/11\/21\/dont-miss-out-on-the-growing-number-of-down-payment-assistance-programs\/","title":{"rendered":"Don\u2019t Miss Out on the Growing Number of Down Payment Assistance Programs"},"content":{"rendered":"\n

$\"Don\u2019t$ \n

With rising home prices<\/a> and volatile mortgage rates<\/a>, it\u2019s important you know about every resource that could help make buying a home possible. And one thing you\u2019ll want to be aware of is just how much the number of down payment assistance (DPA) programs has grown lately. <\/p>\n

Take a look at the graph below to see how many new programs have been added in the last year, according to data<\/a> from Down Payment Resource<\/em>:<\/p>\n

More Programs, More Opportunities for You<\/strong><\/h4>\nSo, what does this increase mean for you? With more programs available, there\u2019s a higher likelihood that one of them could help you reach your <\/strong>homeownership<\/strong><\/a> goals<\/strong>. <\/p>\n
And these programs aren\u2019t small-scale help either \u2013 the benefits can go a long way toward covering a chunk of your costs. As Rob Chrane, Founder and CEO of Down Payment Resource<\/em>, shares<\/a>:<\/p>\n
\u201cWe are pleased to see a growing number of these programs, and think they are becoming a targeted way to help first-time and first-generation homebuyers struggling to save for a down payment get into a home they can afford. <\/em>Our data shows the average DPA benefit is roughly $17,000.<\/em><\/strong> That can be a nice jump-start for saving for a down payment and other costs of homeownership.\u201d<\/em><\/p><\/blockquote>\n
Imagine being able to qualify for $17,000 toward your down payment\u2014that\u2019s a big boost, especially if you\u2019re looking to buy your first home. With that level of help, buying a home may be more within reach than you think.<\/p>\n
But it\u2019s worth calling out that the growth in DPA options isn\u2019t just focused on first-time and first-generation buyers. Many of the new programs<\/a> are also aimed at supporting affordable housing initiatives, which include manufactured and multi-family<\/a> homes. This means that more people, and a wider variety of home types, can qualify for down payment assistance, making it easier for you to find an option that fits your needs.<\/p>\n
Talk to a Real Estate Expert About What\u2019s Available for You<\/strong><\/h4>\n
With so many DPA programs out there, you need to make sure you\u2019re finding the right one for you. That\u2019s why it\u2019s key to lean on your real estate and lending professionals for guidance. The Mortgage Reports<\/em> says:<\/p>\n
\u201cThe best way to find down payment assistance programs for which you qualify is to speak with your loan officer or broker. They should know about local grants and loan programs that can help you out.\u201d<\/em><\/p><\/blockquote>\n
Your loan officer or real estate agent will know what\u2019s available in your area and can point you toward programs that align with your goals.<\/p>\n
Bottom Line<\/h3>\nWith more down payment assistance programs than ever before, now\u2019s a great time to explore how these options can help on your homebuying<\/a> journey. Connect with a team of expert advisors to see which DPA programs could be a fit for you.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
With rising home prices and volatile mortgage rates, it\u2019s important you know about every resource that could help make buying a home possible. And one thing you\u2019ll want to be aware of is just how much the number of down payment assistance (DPA) programs has grown lately. Take a look at the graph below to […]<\/p>\n","protected":false},"author":1,"featured_media":5210,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-5209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2024\/11\/20241121-Don-t-Miss-Out-on-the-Growing-Number-of-Down-Payment-Assistance-Programs-original.png?fit=750%2C410&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pdz2Zu-1m1","_links":{"self":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/5209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/comments?post=5209"}],"version-history":[{"count":0,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/5209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media\/5210"}],"wp:attachment":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media?parent=5209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/categories?post=5209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/tags?post=5209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}