This report answers three important questions about NeighborWorks America’s homeownership education and counseling program.
- Who uses the program?
The share of disadvantaged borrowers among NeighborWorks’ clients is almost twice as high as among general home purchase mortgage applicants and borrowers.
- Where could the program be of greatest use?
The program is most useful in metropolitan statistical areas with high mortgage denial rates.
- How effective is the program in improving loan performance?
Buyers who receive NeighborWorks’ prepurchase counseling achieve significantly better loan performance than do comparable buyers without NeighborWorks counseling.