Down Payment Assistance Focused on First-Generation Buyers Could Help Millions Access the Benefits of Homeownership
Urban Institute, Apr. 7, 2021–Jung Hyun Choi, Janneke Ratcliffe
The authors explore ways to define eligibility for a first-generation-buyer DPA program. Regardless of which definition is used, making it easier for a new generation to establish homeownership through DPA could help millions of people with limited wealth achieve greater financial stability—for themselves and for their children—while closing racial homeownership and wealth gaps.