Start trading now on Poste Italiane

Freddie Mac’s DPA One Program Expands to Aid First-Time Home Buyers

|

©

Freddie Mac’s DPA One platform, a tool designed to streamline the process of finding down payment assistance for first-time home buyers and mortgage lenders, is set to extend its reach. Initially available in Texas and Minnesota, the program will expand to California, Florida, Kentucky, and Virginia by the end of the year, reaching a total of 48 states. Alaska and Hawaii will gain access next year due to their unique state housing finance agency structures, as revealed by Sonu Mittal during a MarketWatch interview on Monday.

The DPA One program consolidates all down payment assistance programs into one platform, simplifying the search process for eligible buyers. According to Freddie Mac data, 48% of qualifying buyers receive assistance between $6,000-$8,999, while 27% get over $9,000. Despite these benefits, uptake has been slow; only 10% used these programs from 2013-2016, a slight increase from 5% in 2013.

Mittal emphasized the potential loss for buyers who do not take advantage of these programs. “Buyers risk leaving money on the table by not utilizing these programs,” he warned. The free tool requires users to input the client’s eligibility parameters to access matching programs, ensuring that those who qualify are able to find and apply for suitable assistance.

This expansion signals Freddie Mac’s ongoing commitment to supporting first-time home buyers in navigating the often complex process of securing a mortgage and making a down payment. The broader availability of DPA One is expected to encourage more potential homeowners to explore available assistance options and ultimately increase homeownership rates across the U.S.

InvestingPro’s real-time metrics show that Freddie Mac, with a market cap of 1980M USD and a P/E ratio of 74.37, has shown a significant return over the last week with a 1 Week Price Total Return of 8.29%. The company has also witnessed a large price uptick over the last six months with a 6 Month Price Total Return of 39.55%, as per InvestingPro data.

InvestingPro Tips suggests that Freddie Mac has high earnings quality, with free cash flow exceeding net income. Moreover, the company’s net income is expected to grow this year. However, it is important to note that the stock generally trades with high price volatility. For more in-depth analysis and tips, consider the InvestingPro product which includes additional tips, available .

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Previous Post
Societe Generale Contemplates Unit Sales as Part of New Strategy
Next Post
Manchester United slides as Ratcliffe’s stake bid report dents buyout hopes

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

Invest on crypto with Gianluca Vacchi project and start making money now
Win money trading on Amazon
INVEST NOW
keyboard_arrow_up