One barrier toward homeownership is having enough saved. Experts say down payment assistance programs may be worth another look.
As buyers continue to struggle with home affordability, experts say programs that help with down payments may be worth another look.
"The end goal is to buy a house, so having investment funds, that passive income, would be very helpful," Hunnicutt said. Usually, assistance programs focus on first-time homebuyers and buyers who meet certain income qualifications. There are also programs focused on " "We know there are thousands of down payment assistance programs that cities have adopted. Those programs are not well reaching underserved consumers of color," Bailey said. "And that's why 'first generation' is very important, because it's a race-neutral way to target resources to the consumers that the future health of the housing system depends on.
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