For many Americans, the prospect of buying a home can seem insurmountable. According to a 2023 article by the Urban Institute, home prices rose by 114 percent between September 2010 and September 2023 while wages only rose by 50 percent.
“In 2010, $10,400 would have covered a 5 percent down payment on the median home purchase, whereas now, a borrower would need $22,240 for the same 5 percent down payment,” the article states.
But in the Triad, a variety of programs are working to help those looking to buy a home. One of the ways in which this is done is through down payment assistance programs…