ATLANTA, Ga., July 9, 2024 (SEND2PRESS NEWSWIRE) — In celebration of Disability Pride Month in July, Down Payment Resource (DPR) is highlighting 18 U.S. homebuyer assistance programs that are specifically designed to support people with disabilities and their family caregivers on their journey toward homeownership. While people with disabilities may be eligible for any of the 2,300-plus U.S. homebuyer assistance programs in DPR’s database, 18 are specifically developed to promote accessibility and inclusivity for aspiring homeowners with disabilities.
Image caption: Down Payment Resource.
People with disabilities represent about 15% of the world’s population, spanning all ages, races, ethnicities, genders, sexual orientations, religions and socio-economic backgrounds. Disability Pride Month originated in the U.S. to commemorate the passing of the landmark Americans with Disabilities Act (ADA) in July 1990. The observance seeks to change the way people think about and define disability, to promote the idea that being disabled is a natural part of human diversity and raise awareness of the challenges that people with disabilities face every day.
Program funds can be used for a variety of purposes such as down payments or closing costs. Many of the programs can be combined with other homebuyer assistance programs, providing individuals with disabilities additional financial support and resources.
An analysis of the 18 programs showcases the range of assistance available to promote homeownership for people with disabilities:
- Financial assistance range: The programs offer homebuyer assistance ranging from $2,000 to $117,000.
- Availability: The programs are offered regionally in eight states and the District of Columbia. A financial assistance program is offered nationally by the Department of Veterans Affairs (VA).
- Accessibility modifications: Funding from two programs can be utilized to support accessibility modifications, ensuring homes are tailored to the unique needs of individuals with disabilities.
- Program types: By type, the homeownership assistance programs available are three affordable first mortgages, 12 second mortgage programs, two grant programs and one combined assistance program.
- Homebuyer status: Four assistance programs are open to repeat buyers and four first-time buyer programs offer an exemption for Veterans so they can apply regardless of previous homeownership.
“We believe all Americans should have access to safe, affordable housing and these targeted programs are making homeownership possible for disabled buyers who otherwise thought they couldn’t afford to buy, or renovate, their home,” said DPR Founder and CEO Rob Chrane. “These programs can help buyers qualify for a mortgage and make changes to the home, like installing handrails, a chair lift or ramps, to make it easier for them to live there.”
About Down Payment Resource:
Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,300 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders and MLSs, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.
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News Source: Down Payment Resource
