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Tips for funding a down payment
 According to a Consumer Reports national homeownership survey, more than one-third of millennial respondents said they didn’t own a home because they hadn’t saved enough for a down payment. For many, high rental costs and student debt make it difficult to save for a down payment. Consumer Reports highlights down payment savings strategies, including finding a no-interest loan or homeownership program through Down Payment Resource, in their March issue. A local TV segment also highlights homeownership counseling and how to find programs.
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Get social with us!
  
Agents who have access to Down Payment Resource through their MLS now have new social media graphics designed for Facebook, Twitter and LinkedIn. Download the images and use them to promote homeownership programs in your market and connect to new buyers. Add new graphics as your social media post image and hyperlink to your website, home search or DPR Personal Marketing Tool.
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Where is the American dream of homeownership strongest?
Zillow’s short answer, according to a new report, is among millennials and minorities. Among people 18-34 years old, 65 percent said homeownership and the American Dream go hand-in-hand, more than any other generation. People-of-color also were more likely than whites to consider homeownership integral to the American Dream.
Plus, a similar report from Lenders One found that Millennials and Hispanics will dominate the mortgage market in 2016. The market is anticipated to increase 11 percent in 2016, according to the report.
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The high cost market myth
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 First rule of real estate: it’s local. The good news is that’s also true for homeownership programs. According to the Texas Association of Realtors, household incomes can’t keep up with rising home prices. It’s an issue many communities in California, most notably San Francisco, face as well.
Homeownership programs are designed to meet the needs of the community and each have their own eligibility criteria. Two key pieces are median income and median home price. In high cost markets, programs may allow buyers with up to 120 percent of area median income (AMI) to qualify. Plus, program benefits may be much higher, helping to close the affordability gap. Don’t overlook options for higher cost markets.
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Wells Fargo LIFT program creates 11,000 homebuyers
Since 2012, More than 11,000 families and individuals across 40 communities own their home as a result of participating in Wells Fargo LIFT programs, a collaboration by Wells Fargo and NeighborWorks America. The down payment grants and homebuyer education set up new buyers for success.
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