Downpayment Assistance Works
DPA programs assist working-class Americans who can afford monthly mortgage payments but need help with the initial downpayment on their homes. Since 1997, downpayment assistance has helped more than one million families realize the dream of homeownership. Act now to restore a vital program that brought the American dream into reach for tens of thousands of families each month.
FHA loans originated in conjunction with DPA are not sub-prime.
They allow hard-working, credit-worthy American families who can afford their monthly mortgage payments the opportunity to purchase homes. All homebuyers must qualify for FHA loans.
Almost all DPA-assisted Americans are successful homeowners.
According to United States Government Accountability Office (GAO) research, more than nine out of ten Americans who purchased their homes with DPA are succeeding in meeting their payments.
Homes purchased with DPA drive wealth and tax generation.
Between 1997 and 2005, $12.3 billion has been generated in taxes for state and local governments just through the purchases of 150,000 new homes—and this number represents less than one-sixth the total number of DPA-assisted home purchases.
Zero tax dollars are used to fund DPA programs.
I am the single mother of three wonderful boys. I work very hard to provide them with opportunities and education as a base on which they can build happy and productive lives. It is very difficult for us to save money, as even most of the money from my second job is used to pay for necessities. There is simply no way I could have saved enough money for the down payment on my home. The three-bedroom condominium we now own gives me a sense of security and stability I never had while renting. (And no apartment complex would allow me to paint my younger sons' room purple!)
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