Down Payment Assistance Focused on First-Generation Buyers Could Help Millions Access the Benefits of Homeownership

Down Payment Assistance

Incentivizing current owners to sell is key As the US population becomes older and more diverse, lagging homeownership rates for young households and households of color should cause concern. Homeownership is the primary way American families have built financial security—through long-term accumulated benefits of loan repayment, appreciation, and fixed housing costs. The resulting wealth can open opportunities for homeowners’…

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Genworth: Largest First-Time Homebuyer Purchase Market in 20 Years

First Time Homebuyer

Historically low interest rates, change in home preferences, flexible work schedules and increased housing affordability triggered substantial rebound in first-time homebuyer market in the third quarter, said Genworth Mortgage Insurance, Richmond, Va. The company’s quarterly First-Time Homebuyer Market Report (https://miblog.genworth.com/first-time-homebuyer-market-report) also said private mortgage insurance financed more first-time homebuyers than any other low-down payment mortgage…

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