DPAgroundswell

DPA = Economic Growth

Downpayment assistance (DPA) programs in the U.S. had a major beneficial impact on the economy last year, creating $38.6 billion in revenues, 235,000 jobs, and $4.6 billion in total tax revenues, according to the Waste/Fountain study released today (See DPA Economic Impact Fact Sheet).

This Isn't Your Father's DPA...It's Reformed DPA

H.R. 600 outlines a set of reforms that strengthens DPA while addressing previous concerns. The key points are:

1. Risk-based pricing assures that DPA can be made available to borrowers without any cost to taxpayers
2. Stiff penalties for appraisal abuse, a firm response to concerns regarding inflated appraisals
3. Homeownership education must be made available to prospective homebuyers, increasing the opportunity for sustainable homeownership and overall long term financial success
   
4. Regulation for DPA providers ensures responsible industry standards
   
   

Read H.R. 600 (PDF) for details