CHAPTER 13
HOME BUYER PROGRAMS Even though about two-thirds of Americans own their own home, that still leaves a significant chunk of people who don’t, won’t, or can’t. Yes, some people are renting on purpose, in the interim; some people are looking to buy but aren’t having success in finding the right home for the right price; some people are downsizing; and some people choose to rent over owning. But many people want to live in homes but can’t due to affordability and other financial issues, such as saving up for a down payment, not qualifying for a mortgage loan, or inability to afford other fees such as closing costs, homeowner’s insurance, maintenance, or even monthly mortgage payments.
In fact, “money issues often stand in the way of homeownership,” writes Rachel Hartman of Bankrate.com. “A survey by rental service Apartment List found that 80% of millennial renters want to buy a home, but most say they can’t afford to.”
The good news is that there are home buyer programs available to help you out, particularly for first-time home buyers, but also
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