Urban Institute Report Identifies Barriers to Home Ownership

Emila Sutton
Urban Institute Report Identifies Barriers to Home Ownership

In mid-November, the Urban Institute published a report identifying saving for a down payment, accessing mortgage credit and housing affordability as significant barriers to home ownership. The report offers information about down payment assistance programs that can help borrowers and includes an interactive map with a comprehensive view of 16 housing market factors in each state. According to the map, 33.3% of home loans in North Carolina have a 20% or more down payment.

The report links to the NC Housing Finance Agency’s home buyer resources that help overcome the significant barriers mentioned. These resources include the NC Home Advantage Mortgage™, which offers down payment assistance up to 5% of the loan amount.

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