Tips for Helping Consumers with a Down Payment

According to a Consumer Reports national homeownership survey, more than one-third of millennial respondents said they didn’t own a home because they hadn’t saved enough for a down payment. For many, high rental costs and student debt make it difficult to save for a down payment.

Consumer Reports highlights down payment savings strategies, including finding a no-interest loan or homeownership program through Down Payment Resource, in their March issue. A local TV segment also highlights homeownership counseling and how to find programs.

Studies show that 70% of Americans don’t know that there are down payment and closing cost programs, affordable first mortgages, mortgage credit certificates, grants and many other programs available in every community. The Colorado REALTOR® Down Payment Program is a free tool that helps you discover down payment programs that fit your personal situation.

Access the Colorado REALTOR® Down Payment Program