HUD-2003-14-CPD

Over the past ten years HOME participating jurisdictions (PJs) have devoted increasing portions of their HOME Program funds to homebuyer activities. This increasing emphasis on homeownership has been encouraged in part by research documenting the many benefits low-income families derive from owning their own homes. At the operational level, advances in the mortgage marketplace have facilitated the increase in HOME assistance for affordable homeownership. As lenders have developed tools to better understand the needs of low-income borrowers and evaluate risk, new lending products have been tested and the viability of the affordable homeownership market has been amply demonstrated. How should a PJ get started on redesigning a homebuyer program to synchronize it with the operations of the private mortgage market? Read Fitting the Pieces Together to find out.