The Center for Responsible Lending noted that the down payment assistance the White House wants mirrors a prior proposal it made, as well as the Downpayment Towards Equity Act that passed the House of Representatives in 2021. "Targeted first-generation down payment assistance would open doors of opportunity for families who have not benefited from intergenerational transfer of wealth," said Mike Calhoun, CRL president, in a press release. "This policy would expand the economic security that homeownership brings, and it would help narrow the racial homeownership and wealth gaps."
