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61 May 2025 J O U R N A L May 2025 » closing costs, lower the rate or meet other buyer needs," said Rob Chrane, Founder and CEO of DPR. "More programs now include manufactured and multifamily homes, opening new paths to affordabil- ity and steady income. For lenders, that means more ways to qualify buyers and close loans in a tough market." The latest Freddie Mac Primary Mortgage Market Survey (PMMS) found the 30-year fixed-rate mortgage (FRM) at 6.83% as of April 17, 2025, up from the previous week when it averaged 6.62%. A year ago at this time, the 30-year FRM averaged 7.1%. An examination of the existing 2,509 homebuyer assistance programs on April 4, 2025, resulted in the following key findings: » Forty-three homebuyer assistance programs were added in Q1 2025, a 2% increase from Q4 2024: 952 programs (38%) are available to repeat buyers; 240 programs (10%) do not have income restrictions, increasing the number of buyers who might qualify for assistance; and 29 programs sup- port first-generation homebuyers, an increase of 16% over the last quarter. » "Other homebuyer assistance" programs increased 35% from the previous quarter, below-market-rate (BMR)/resale-restricted programs in- creased 18% and grant programs grew 7%. BMR/resale-restricted programs offer housing at prices lower than the open market, with restrictions on re- sale to ensure affordability for future buyers, typically low-to moderate-in- come households. » Eighty percent of DPAs in Q1 were deferred payment programs, a 3% in- crease from the previous quarter. With a deferred payment loan, borrowers don't make monthly payments, and the balance is typically due when they sell or refinance or the loan matures. Many of these loans are also forgivable. Fif- ty-three percent of DPAs in Q1 offered partial or full forgiveness over time, as long as the homeowner meets certain requirements, such as maintaining primary residency. » A total of 990 programs (39%) were offered through local housing finance agencies (HFAs), virtually unchanged from the previous quarter. Nonprofits accounted for 21%, a 2% increase over the previous quarter. State FHAs represented 18%, a slight drop from the previous quarter. » The number of programs supporting manufactured housing grew 6%, from 914 in Q4 2024 to 971 in Q1 2025. Manufactured homes are considered to be an affordable housing supply since they are significantly cheaper to purchase than site-built homes, with average costs per square foot around $87 versus $166 according to the Man- ufactured Housing Institute. » A total of 833 programs supported the purchase of multifamily housing, a 3% increase from the previous quarter. Of these, a growing number of programs support purchasing three-unit homes (562) and four-unit homes (536). Investing in multifamily properties can generate cash flow and potentially offer tax advantages to buyers. » Twenty programs offered special funding to surviving military spouses, an 18% increase from the previous quarter, while energy efficiency pro- grams grew by 17%. Other incentive programs included 69 for educators, 56 for protectors (jobs focused on safeguarding people, property, or information), 50 to assist military vet- erans, and 50 for Native Americans. Published quarterly, DPR's HPI surveys the funding status, eligibility rules, and benefits of U.S. homebuyer assistance programs administered by state and local housing finance agencies, municipalities, nonprofits, and other housing organizations. DPR commu- nicates with more than 1,300 program providers throughout the year to track and update the country's wide range of homeownership programs, includ- ing down payment and closing cost programs, Mortgage Credit Certificates (MCCs), and affordable first mortgages, in the DPR database. Manufactured homes are considered to be an affordable housing supply since they are significantly cheaper to purchase than site-built homes, with average costs per square foot around $87 versus $166 according to the Manufactured Housing Institute.