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Shared Equity Programs Are A Viable Option For Increasing Homeownership

A recent research study by How Housing Matters revealed that shared equity programs are a viable option for increasing homeownership based on mortgages, credit and monthly payments.

"Results were broadly similar across the two approaches. Compared with other purchasers, shared equity purchasers were younger, had significantly lower credit scores, incomes, and levels of revolving debt, and were more likely to live in areas that had higher shares of non-Hispanic African Americans," according to HHM.

The study found that on average purchasers in shared equity homeownership programs had $103,378 less credit on open mortgage trades compared to other first-time homebuyers.

"Shared equity homeowners performed just as well on their mortgages as other purchasers, with no measurable differences in their 90- to 180-day mortgage delinquencies, nonmortgage delinquencies, credit scores, credit utilization rates, or revolving debt," according to the study.

To learn more the How Housing Matters study on shared equity programs, click on the image above.

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