Homeownership remains a cornerstone of financial stability and generational wealth-building, yet for many families, the down payment remains a significant barrier. In a recent article published in MBA NewsLink, Miki Adams, President of CBC Mortgage Agency, underscores the urgent need to expand access to down payment assistance (DPA) programs.
Why Down Payment Assistance Matters
As home prices and interest rates fluctuate, many low- to moderate-income families find homeownership increasingly out of reach. DPA programs, such as Chenoa Fund, help bridge the affordability gap by providing financial support to qualified borrowers. However, despite the proven success of these programs, regulatory and market constraints continue to limit their availability.
The Need for Advocacy
Miki Adams highlights the critical role that policymakers, lenders, and housing advocates play in ensuring that DPA remains accessible. As the article discusses, expanding access to DPA programs can help more families overcome the initial financial hurdles of buying a home, leading to greater economic stability and stronger communities.
Taking Action
With home affordability challenges persisting, now is the time to push for broader acceptance and support of down payment assistance programs. Industry professionals and policymakers must work together to ensure these programs remain viable and effective.
To read Miki Adams’ full insights on this important topic, check out the full article here: MBA NewsLink
At CBC Mortgage Agency, we remain committed to expanding homeownership opportunities and advocating for solutions that make a real difference. Let’s continue the conversation—how can we work together to make homeownership more accessible?
Equal housing opportunity.
CBC Mortgage Agency NMLS # 1186381 For licensing information, go to: www.nmlsconsumeraccess.org.
Illinois Residential Mortgage License #MB.6761292. Illinois Department of Financial and Professional Regulation, Division of Banking, 555 W. Monroe St., Suite 500, Chicago, IL 60661 – 1-888-473-4858. Georgia Residential Mortgage Licensee, License # 1186381. The Chenoa Fund program is not currently offered in New York. This article is for information purposes and is not a commitment to lend.
