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The Potential of Downpayment Assistance for Increasing Homeownership Among Minority and Low-Income Households

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Author Info
HUD - PD&R
Abstract

Research has consistently found that a lack of wealth is among the most important factors limiting households from becoming homeowners. In recognition of the importance of the wealth constraint in limiting homeownership, the American Dream Downpayment Act was enacted in 2003 to provide downpayment assistance through the HOME Investment Partnerships Program to eligible low-income households. Nonetheless, there is actually little research that has evaluated the potential impact of downpayment assistance on homeownership rates.

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Paper provided by HUD USER, Economic Development in its series Economic Development Publications with number 39102.

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Length: 38 pages
Date of creation: Jan 2005
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Handle: RePEc:hud:wpaper:39102

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D10 - Microeconomics - - Household Behavior - - - General

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Peter Linneman & Susan Wachter, 1989. "The Impacts of Borrowing Constraints on Homeownership," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 17(4), pages 389-402. [Downloadable!] (restricted)
  2. Barakova, Irina & Bostic, Raphael W. & Calem, Paul S. & Wachter, Susan M., 2003. "Does credit quality matter for homeownership?," Journal of Housing Economics, Elsevier, vol. 12(4), pages 318-336, December. [Downloadable!] (restricted)
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  3. Christopher J. Mayer & Gary V. Engelhardt, 1994. "Gifts, down payments, and housing affordability," Working Papers 94-5, Federal Reserve Bank of Boston. [Downloadable!]
  4. Donald R. Haurin & Patric H. Hendershott & Susan M. Wachter, 1996. "Borrowing Constraints and the Tenure Choice of Young Households," NBER Working Papers 5630, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. Donald R. Haurin & Susan M. Wachter & Patric H. Hendershott, 1995. "Wealth Accumulation and Housing Choices of Young Households: An Exploratory Investigation," NBER Working Papers 5070, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  6. Peter M. Zorn, 1989. "Mobility-Tenure Decisions and Financial Credit: Do Mortgage Qualification Requirements Constrain Homeownership?," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 17(1), pages 1-16. [Downloadable!] (restricted)
  7. Quercia, Roberto G. & McCarthy, George W. & Wachter, Susan M., 2003. "The impacts of affordable lending efforts on homeownership rates," Journal of Housing Economics, Elsevier, vol. 12(1), pages 29-59, March. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Hud – Pd&R, 2004. "The Importance of Wealth and Income in the Transition to Homeownership," Economic Development Publications 39047, HUD USER, Economic Development. [Downloadable!]
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