Housing is generally considered affordable when it consumes no more than 30% of a household’s gross income, but for many buyers, especially first-timers, saving enough cash for a down payment remains the biggest barrier.

That’s according to a new analysis by Down Payment Resource (DPR) in partnership with the Urban Institute. They dug into Home Mortgage Disclosure Act (HMDA) data to examine eligibility for down payment assistance (DPA) programs.

The analysis suggests that while DPA programs can help borrowers navigate that barrier, misconceptions about borrower risk and loan quality have limited their use. DPA programs can lower a details ⇒

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