The Down Payment Report

To help improve knowledge and understanding of the latest information on low down payments and its impact on the housing market, we created The Down Payment Report. On a regular basis, we collect, report and archive news and commentary on down payments from a wide variety of sources.

Sign Up

Additional Information

Learn how Down Payment Resource works with the housing industry. For media interviews and inquiries: Contact Melinda Harris.

Central Information Source on Down Payment Trends

As the shortage of affordable housing worsens, low down payment mortgages are playing a vital role in helping families become homeowners and stimulating housing demand.

Consumers today have at their disposal an extraordinary variety of low down payment options—from FHA, some 2,400 homeownership programs, and the newest products offered by America’s leading lenders. However, public awareness of the opportunities to buy a home with a low down payment is still surprisingly low, according to recent surveys.

To help improve knowledge and understanding of the latest information on low down payments and its impact on the housing market, we created The Down Payment Report. On a regular basis, we collect, report and archive news and commentary on down payments from a wide variety of sources.

Please let us know your thoughts and suggestions on how we can make The Down Payment Report more useful to you.

Rob Chrane
CEO, Down Payment Resource

September/October 2021

Download the full issue. (released November 4, 2021)

  • Commentary: Housing Finance Agencies weathered the storm and came out better than before.
  • Down Payment Interview: Officials for three of the largest state Housing Finance Agencies discuss how they adapted to the unexpected demand brought on by the pandemic.
  • Infrastructure bill to provide financial assistance grants to first-generation homebuyers.
  • Affordability continues to plummet for some millennials, low-income households, and minority groups.
  • Many first-time buyers can’t afford homeownership in most major US metro areas.
  • Housing economists weigh in on market conditions.
  • A coalition of 40 national housing organizations seeks changes in “Duty to Serve” plans.
  • Fannie Mae updates DU to increase access to credit.
  • Working to close the minority homeownership gap – a recent study revealed appraisal values are more likely to fall below the contracted sales price in census tracts with a higher share of Black and Latino households.
  • DPA program news and updates from across the country.
  • Down payment and purchase loan data.

July/August 2021

Download the full issue. (released August 26, 2021)

  • Commentary: Ginnie Mae’s risk-based capital rule would punish first-time buyers.
  • Down Payment Interview: Washington State Housing Finance Commission Homeownership Director, Lisa DeBrock, discusses the importance of educating sellers and agents about FHA loans in hot markets.
  • FHA and VA market shares are shrinking, according to a recent National Association of Realtors membership survey.
  • Decreased supply of starter homes is crippling inventory for first-time buyers.
  • Support is growing in Congress for down payment assistance programs.
  • Rent vs. Buy in 2021 — homeownership is still one of the best wealth generators.
  • A new use for credit card reward points — down payment and closing cost assistance.
  • Pandemic increases starter home sizes as consumer preferences shift.
  • New down payment program offers up to 5 percent of the home’s purchase price in Maui, HI.
  • Down payment and purchase loan data.

May/June 2021

Download the full issue. (released June 24, 2021)

  • Commentary: Low down payments and the pandemic.
  • Down Payment Assistance Legislation: An excerpt from An Essential Role for Down Payment Assistance in Closing America’s Racial Homeownership and Wealth Gaps by Michael Stegman and Mike Loftin.
  • Down payment assistance could potentially convert five million “first-generation” families―who rent and whose parents never owned homes― into homeowners.
  • First-time buyers stick with low down payments during bidding wars.
  • Latinos have increased their homeownership rate for six consecutive years. Nearly one in three Latinos is currently in the prime homebuying years of 25 to 44.
  • Homeowners pay a smaller percentage of their incomes than renters because, over time, rent will increase while the only costs of homeownership that increases are property taxes and insurance.
  • The undervaluation of Black homes resulting from redlining costs the average Black homeowner $46,000.
  • Down payment assistance news across America, including recently launched programs.
  • Down payment and purchase loan data.

March/April 2021

Download the full issue. (released April 8, 2021)

  • Commentary: Homeownership Education Saves Mortgages.
  • Down Payment Interview: Housing & Education Alliance Executive Director, Sylvia Alvarez,
    discusses the importance of homeownership education not only for new buyers, but for loan officers and real estate agents as well.
  • Down payment assistance news across America, including recently launched programs.
  • The latest in down payment legislation.
  • Millennials: Are happy days ending for young buyers?
  • Highlights from NAR’s 2021 Snapshot of Race and Home Buying in America.
  • More than 20 percent of young households will be Hispanic by 2040.
  • First-Time Homebuyers: First American has rated affordability on a renter’s house-buying power.
  • Down payment and purchase loan data.

January/February 2021

Download the full issue. (released February 4, 2021)

  • Commentary: Why 2020 was a year to remember.
  • Down Payment Interview: National Council of State Housing Agencies Executive Director, Stockton Williams,
    discusses how agencies have weathered the pandemic and what’s in store for 2021.
  • Millennials’ house-buying power will drive sales to new heights.
  • The importance of low down payments will increase, rising prices and higher rates are bad news for first-time buyers.
  • Limits on FHA loans rise 7.4 percent and 8.9 percent, and DACA homebuyers are now eligible for FHA loans.
  • Is pandemic stimulus money encouraging larger down payments?
  • Urban Institute: Within 20 years, Black homeownership will decline dramatically.
  • Conforming loan limits increased in 2021.
  • Down payment and purchase loan data.

September/October 2020

Download the full issue. (released October 9, 2020)

  • Commentary: Don’t raid IRAs for down payments.
  • Down Payment Interview: NAREB’s National Executive Director, Antoine Thompson,
    discusses the American Dream Down Payment Act and whether or not the legislation will move the needle for homeownership.
  • Down payment options blunt the impact of rising prices.
  • The bill that allows tax-free IRA withdrawals for down payments.
  • The three provisions of the Biden-Harris plan: permanent tax credit, DPA for public workers, and expanded CDBG funding.
  • Millennials: Homeownership rates rise most for younger owners.
  • FHA updates, including delinquency rates and the extended foreclosure moratorium.
  • Down Payment Resource releases its Third Quarter 2020 Homeownership Program Index (HPI).
  • Structural barriers limit home equity for African Americans and Hispanics.
  • Down payment and purchase loan data.

June/July 2020

Download the full issue. (released June 30, 2020)

  • Commentary: Low down payments and home price stability.
  • Down Payment Interview: Stockton Williams, Executive Director
    of the National Council of State Housing Agencies (NCSHA),
    shares his views on the impact of COVID-19 on state housing finance agencies.
  • How young buyers are driving pandemic demand — first-timers dominated April sales.
  • Many lenders are raising standards and lowering LTVs.
  • Lost savings are putting Millennials’ dreams on hold.
  • The ten toughest markets to recoup savings, including the years of saving needed for an additional ten percent down payment.
  • Hispanic homeownership is on the rise, but more is needed.
  • Down payment and purchase loan data.

April 2020

Download the full issue. (released April 22, 2020)

  • Commentary: Pandemic impacts entry level buyers
  • Down Payment Interview: Rebecca Steele, President and CEO of the National Foundation for Credit Counseling, shares her views on surviving the COVID-19 crisis.
  • COVID-19 crisis hits young workers hardest.
  • The crisis is forcing first-time buyers to tap down payment savings.
  • New CFPB study describes how first-time buyers have changed over the past 20 years.
  • Chase lowers its LTV to 80 percent and other lenders tighten standards.
  • Down payment assistance trends and COVID-19 impact.
  • Fannie and Freddie allow desktop appraisals and urge due diligence on income verification and employment.

March 2020

Download the full issue. (released March 19, 2020)

  • Commentary: COVID-19 and Homeownership
  • Down Payment Interview: Examining the solution to the white-black homeownership gap with Freddie Mac Senior Economist Jaya Dey.
  • What a zero percent interest rate may mean for first-time homebuyers
  • Surprises in generational trends and median down payments
  • Scorecard on Millennials and debt
  • New down payment assistance programs across the nation
  • Updated 2020 and 2021 housing forecasts

January 2020

Download the full issue. (Released January 23, 2020)

  • Looking back and looking ahead: 2019 housing news highlights and a 2020 housing forecast round up.
  • Down Payment Interview: Affordable housing expert Tonya Todd on how HFA innovation and flexibility are helping moderate-income buyers.
  • FHFA seeks to reduce low down payment loans in GSE portfolios.
  • Awareness of low down payment programs improves.
  • Nearly one out of three Millennial buyers plan to augment their savings with down payment assistance.
  • One-quarter of Millennial planning to buy this year have saved less than $1K.
  • Experts predict Gen Z will raise homeownership rate.
  • Freddie Mac launches new online homebuyer education program.

Get the Down Payment Report

Sign Up