CANFIELD, Ohio – In this excerpt from The Business Journal Roundtable Series featuring housing and mortgages, panelists discussed down payment assistance programs and financing options available to first-time homebuyers.
Lenders and housing advocates pointed to local, state and federal programs that help reduce upfront costs through grants, credits, low- or no-down-payment loans and reduced mortgage insurance.
Participants said affordability and buyer education — not down payment alone — are now the primary barriers to homeownership, noting persistent misconceptions about the need for a 20% down payment.
Watch the full discussion HERE.
Read the full transcript HERE.