Authors' Note: Professor Wayne Archer teaches real estate finance, mortgage markets, and real estate market analysis. He is an Executive Director at the Kelley A. Bergstrom Center for Real Estate Studies. Stan Fitterman is a Senior Technical Advisor with the Florida Housing Coalition. He is recognized throughout the state as one of the foremost authorities on Florida's State Housing Initiatives Partnership (SHIP) program. Marc T. Smith is a professor of finance at the Ohio State University. He is presently Director of the Preservation Compact Affordable Rental Housing Data Clearinghouse Project at DePaul's Real Estate Center.
Real Estate Brokerage, Homebuyer Training, and Homeownership Sustainability for Housing Assistance Programs
Article first published online: 2 JUL 2009
2009 American Association of Family and Consumer Sciences
Family and Consumer Sciences Research Journal
Volume 37, Issue 4, pages 442–455, June 2009
How to Cite
Archer, W., Fitterman, S. and Smith, M. T. (2009), Real Estate Brokerage, Homebuyer Training, and Homeownership Sustainability for Housing Assistance Programs. Family and Consumer Sciences Research Journal, 37: 442–455. doi: 10.1177/1077727X09333102
- Issue published online: 2 JUL 2009
- Article first published online: 2 JUL 2009
- homebuyer training
This study examines a previously overlooked factor in the rate of default on home loans by marginal first-time homebuyers; namely, the purchase transaction process. In particular, the study examines the potential for the type of initial contact in a homebuyer assistance program to affect the likelihood of default on a subsequent home loan. Using data from 41 state funded local assistance programs in Florida, the study is able to examine the relationship of program default rates to the source of applicant for assistance. Specifically, it examines the explanatory capacity of the percentage of applicants who had a contract to purchase prior to applying for assistance, indicated that the applicant already has engaged with a broker or lender. It finds that the percentage of applicants for assistance who already have engaged with a broker or lender is very significantly and positively relate to the program default rate.