No Need to Wait On Election Promises—2,444 Down Payment Assistance Programs Already Exist!

The Lighter Side of Real Estate • November 2, 2024

Coming up with a down payment is difficult and can take years, and is often one of the biggest hurdles for first-time home buyers.

So if you’ve been struggling to save up enough money to buy a home, the proposed plan for a $25,000 down payment grant making the news in the run-up to the U.S. presidential election probably sounds like music to your ears.

Unfortunately that proposal is difficult to bank on, since it relies on the candidate making the promise winning the election, and then successfully putting the plan in motion. And even if it is successfully rolled out, you’ll still need to qualify, apply, and go through the process of obtaining approval to receive the funds. The bottom line is, it could take many months, or even years before it would do you any good.

The good news is, you don’t have to hope or wait—there are already down payment assistance (DPA) programs you can explore!

In fact, according to this Housing Wire article, there are 2,444 of them already in existence, with 29 new DPA programs created in just the last four months, which is an 8% increase since the end of last year.

First of All… What Is Down Payment Assistance?

Down payment assistance (DPA) programs are financial tools that help homebuyers cover the cost of a down payment. These programs come in various forms, including grants, loans, or forgivable loans, and are designed to make homeownership more accessible, especially for first-time buyers or those purchasing in specific areas.

Many DPAs are offered through state and local government agencies, nonprofits, and other housing organizations. The eligibility requirements vary, but they generally consider factors like income, home price, and location. These programs can be a game-changer for buyers who are struggling to save enough for a down payment, but they’re often underutilized because of a lack of awareness.

If you want to dive a little deeper into the ins and outs of these types of programs, this CNBC article provides a solid introduction.

A Lot of the Money Available Often Goes Unused

Despite the numerous DPA programs available across the U.S., a large chunk of the funds set aside for down payment assistance goes unused every year. This underutilization could be due to misconceptions or a general lack of awareness among prospective buyers.

For example, according to this article from The Federal Savings Bank, many people assume that DPA programs are only for first-time homebuyers or that they require a complicated application process.

In reality, these programs can be more flexible and accessible than most people think. Programs exist to help a wide range of buyers, and the opportunities are vast, but misconceptions—like believing the qualifications are too stringent or that the funds will run out before you apply—prevent many buyers from taking advantage of them.

Finding a List of All 2,444 of Them Is Difficult, But…

One of the biggest obstacles in accessing down payment assistance is simply finding the information you need. Simply trying to find a list of all the available DPAs online is difficult. Many of these programs are managed by local housing agencies or nonprofits that don’t always have the marketing power to reach a wide audience.

And even if you can find an all-inclusive list, or at least information on a few specific programs, figuring out the best option for your needs and qualifications can be tricky.

However, this article from The Mortgage Reports has a fairly decent list of programs available in each state, and is a good place to start searching on your own. But they also suggest that one of the most effective ways to find the right DPA program is to speak with a lender or mortgage advisor—especially one who specializes in first-time buyers or, even better, in down payment assistance programs.

While you can always just search online, a great way to find a lender who specializes in helping buyers find down payment assistance is to reach out to a local real estate agent. Agents usually have a list of lenders they trust, and know which ones are better for certain types of buyers, so there’s a good chance your agent will know just the right mortgage professional to recommend to you.

Working with professionals who understand the local market and DPA landscape will save you time and effort—and increase your chances of securing some of the down payment money that’s up for grabs.

The Takeaway:

Don’t wait around for a political proposal that may or may not materialize—there are thousands of down payment assistance programs available right now. Whether through grants, forgivable loans, or other forms of financial aid, these programs can help you get closer to your homeownership dreams.
Reach out to your local real estate agent and ask them to refer you to a lender who is familiar with down payment assistance programs, and can help you find a good fit and navigate the process of obtaining available funds.


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What a Government Shutdown Really Means for the Housing Market

By KCM • November 6, 2025
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2026 Housing Market Outlook

By KCM • October 26, 2025
2026 Housing Market Outlook After a couple of years where the housing market felt stuck in neutral, 2026 may be the year things shift back into gear. Expert forecasts show more people are expected to move – and that could open the door for you to do the same. More Homes Will Sell With all of the affordability challenges at play over the past few years, many would-be movers pressed pause. But that pause button isn’t going to last forever. There are always people who need to move. And experts think more of them will start to act in 2026 (see graph below): What’s behind the change? Two key factors: mortgage rates and home prices. Let’s dive into the latest expert forecasts for both, so you can see why more people are expected to move next year. Mortgage Rates Could Continue To Ease The #1 thing just about every buyer has been looking for is lower mortgage rates . And after peaking near 7% earlier this year, rates have started to ease. The latest forecasts show that could continue throughout 2026, but it won’t be a straight line down (see graph below): There’s a saying: when rates go up, they take the escalator. But when they come down, they take the stairs. And that’s an important thing to remember. It’ll be a slow and bumpy process. Expect modest improvement in mortgage rates over the next year but be ready for some volatility. There will be volatility along the way as new economic data comes out. Just don't let it distract you from the bigger picture: the overall trend will be a slight decline. Forecasts say we could hit the low 6s, or maybe even the high 5s. And remember, there doesn't have to be a big drop for you to feel a change. Even a smaller dip helps your bottom line. If you compare where rates are now to when they were at 7% earlier this year, you’re already saving hundreds on your future mortgage payment. And that’s a really good thing. It’s enough to make a real difference in affordability for some buyers. Home Price Growth Will Be Moderate What about prices? On a national scale, forecasts say they’re still going to rise, just not by a lot. With rates down from their peak earlier this year, more buyers will re-enter the market. And that increased demand will keep some upward pressure on prices nationally – and prevent prices from tumbling down. So, even though some markets are already seeing slight price declines, you can rest easy that a big crash just isn’t in the cards. Thanks to how much prices rose over the last 5 years, even the markets seeing declines right now are still up compared to just a few years ago. Of course, price trends will depend on where you are and what’s happening in your local market. Inventory is a big driver in why some places are going to see varying levels of appreciation going forward. But experts agree we’ll see prices grow at the national level (see graph below): This is yet another good sign for buyers and overall affordability. While prices will still go up nationally, it’ll be at a much more sustainable pace. And that predictability makes it easier to plan your budget. It also gives you peace of mind that prices won’t suddenly skyrocket overnight. Bottom Line After a quieter couple of years, 2026 is expected to bring more movement – and more opportunity. With sales projected to rise, mortgage rates trending lower, and price growth slowing down, the stage is set for a healthier, more active market. So, the big question: will you be one of the movers making 2026 your year? Let’s connect if you want to get ready.

Why Home Prices Aren’t Actually Flat

By KCM • October 25, 2025
Why Home Prices Aren’t Actually Flat If you’ve been following real estate news lately, you’ve probably seen headlines saying home prices are flat. And at first glance, that sounds simple enough. But here’s the thing. The reality isn’t quite that straightforward. In most places, prices aren’t flat at all. What the Data Really Shows While we’ve definitely seen prices moderate from the rapid and unsustainable climb in 2020-2022, how much they've changed is going to be different everywhere. If you look at data from ResiClub and Zillow for the 50 largest metros, this becomes very clear. The real story is split right down the middle. Half of the metros are still seeing prices inch higher. The other half? Prices are coming down slightly (see graph below). The big takeaway here is “flat” doesn’t mean prices are holding steady everywhere. What the numbers actually show is how much price trends are going to vary depending on where you are. One factor that’s driving the divide? Inventory. The Joint Center for Housing Studies (JCHS) of Harvard University explains : “ . . . price trends are beginning to diverge in markets across the country. Prices are declining in a growing number of markets where inventories have soared while they continue to climb in markets where for-sale inventories remain tight .” When you average those very different trends together, you get a number that looks like it’s flat. But it doesn’t give you the real story and it’s not what most markets are feeling today. You deserve more than that. And just in case you're really focusing on the declines, remember those are primarily places where prices rose too much, too fast just a few years ago. Prices went up roughly 50% nationally over the past 5 years, and even more than that in some of the markets that are experiencing a bigger correction today. So, a modest drop in some local pockets still puts most of those homeowners ahead when it comes to the overall value of their home. And based on the fundamentals of today’s housing market, experts are not projecting a national decline going forward. So, what's actually important for you to know? If You’re Buying... You need to know what's happening in your area because that’s going to influence everything from how quickly you need to make an offer to how much negotiating power you’ll have once you do. In a market where prices are still inching up , waiting around could mean paying more down the line. In a market where they’re easing , you may be able to ask for things like repairs or closing cost help to sweeten the deal. The bottom line? Knowing your local trend puts you in the driver’s seat. If You’re Selling... You’ll want to be aware of local trends, so you’ll know how to price your house and how much you can expect to negotiate. In a market where prices are still rising , you may not need to make many compromises to get your home sold. But if you’re in a market where prices are coming down , setting the right price from the start and being willing to negotiate becomes much more important. The big action item for homeowners? Sellers need to have an agent’s local perspective if they want to avoid making the wrong call on pricing – and homes that are priced right are definitely selling. The Real Story Is Local The national averages can point to broad trends, and that's helpful context. But sometimes you’re going to need a local point of view because what’s happening in your zip code could look different. As Anthony Smith, Senior Economist at Realtor.com, article puts it: “While national prices continued to climb, local market conditions have become increasingly fragmented… This regional divide is expected to continue influencing price dynamics and sales activity as the fall season gets underway. ” That’s why the smartest move, whether you’re buying or selling, is to lean on a local agent who’s an expert on your market. They’ll have the data and the experience to tell you whether prices in your area are holding steady, moving up, or softening a bit – and how that could impact your move. Bottom Line Headlines calling home prices flat may be grabbing attention, but they’re not giving you the full picture. Has anyone taken the time to walk you through what we’re seeing right here, right now? If you want the real story about what prices are doing in our market, let’s connect.
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