When it comes time to purchase their next home, many "would be home buyers" just don't have adequate down payment funds set aside. Their income and credit may be enough, but without down payment resources the goal of home ownership remains out of reach. And the same problem affects all types of home buyers.
Furthermore, a 2016 Realty Trac study indicates those who have used down payment assistance programs were on average $17,766 better off over the lifetime of their mortgage than those who have not. And nine out of 10 properties in the U.S. qualify for down payment assistance if the buyers are eligible.
Did you even know that Down Payment Assistance programs exist? If not, you're in good company. Most folks are not aware. Yet, several types of funds are readily available including Grants and Mortgage Loans with deferred or forgivable payments to help you qualify sooner, and purchase your home.