Affordable lending programs administered through state Housing Finance Agencies have limited studies specifying how those mortgages compare to regular mortgages, but a recent analysis conducted using Fannie Mae
data suggests that HFA mortgages are less likely to default.
Surveys by the National Association of Realtors (NAR) and others suggest that saving for a downpayment for a home ranks at the top of the list of obstacles facing homebuyers, particularly as prices have risen to record levels in some metro areas. Buyers, especially aspiring first-time homeowners and families in lower-income brackets, however, have numerous options for downpayment assistance.
Amid rising demand for housing, a worsening housing affordability problem, and a deficiency of federal assistance, state governments can cultivate healthier housing markets by partnering with local jurisdictions. An Urban Land Institute report details five ways states can improve housing choice and affordability at the local level.