Aug, 15
2023
Business, Free News Articles

Down Payment Resource debuts on the Inc. 5000 list of America’s fastest-growing companies

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry's leading technology for connecting homebuyers with homebuyer assistance programs, today announced it has earned a spot on the 2023 Inc. 5000 list of the nation's fastest-growing private companies. This marks DPR's inaugural year on the list.

Founded in 2008, DPR maintains the only comprehensive database of U.S. homebuyer assistance programs by engaging with more than 1,300 program providers year-round. Its technology, which helps the housing industry match homebuyers with homebuyer assistance, has been used by millions of housing professionals and consumers and averages 30,000 homebuyer assistance queries a day. DPR customers include five of the top 10 retail mortgage lenders by volume, more than a dozen multiple listing sites (MLSs) and 500,000 real estate agents.

Additionally, two of the nation's largest real estate websites use DPR to power a down payment assistance finder within listing descriptions.

"To date, we've connected more than 6 million housing professionals and homebuyers with down payment assistance program information, and we are proud of the impact we have made," said DPR Founder and CEO Rob Chrane. "As we celebrate this remarkable milestone, we're more inspired than ever to forge ahead, break down barriers to homeownership and pave the way for a brighter, more inclusive housing future."

"Running a business has only gotten harder since the end of the pandemic," said Inc. editor-in-chief Scott Omelianuk. "To make the Inc. 5000 - with the fast growth that requires - is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future."

For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location and other criteria, go to www.inc.com/inc5000.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 24
2023
Business, Free News Articles, Reports and Studies

Down Payment Resource Issues Q2 2023 Homeownership Program Index Report

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry's leading technology for connecting homebuyers with homebuyer assistance programs, issued its Q2 2023 Homeownership Program Index (HPI). The firm's analysis revealed a second consecutive quarterly uptick of 0.5% in the number of homebuyer assistance programs available to help people finance homes, raising the number of programs to 2,373.

Key Findings

An examination of the 2,373 homebuyer assistance programs that were active as of July 3, 2023, resulted in the following key findings:

* Growth in programs that expand inventory options. In response to the dearth of affordable inventory, agencies continue to introduce programs that expand housing options for low-to-moderate income (LMI) home buyers. Last quarter, 24 more programs introduced support for manufactured housing, an increase of 3.4%. Additionally, three programs that support multi-family purchases were introduced, bringing the number of programs that support two- to four-unit residential properties to 650.

* Growth in the number of agencies administering programs. As affordability continues to challenge LMI home buyers, 45 more agencies have stepped up to administer homebuyer assistance programs, a 3.9% increase over the previous quarter. Now 1,323 agencies provide assistance to aspiring homeowners across the country.

* Municipalities administer the lion's share of homebuyer assistance programs. Municipalities support 42.2% of homebuyer assistance programs, roughly double the 21.8% of programs supported by state housing finance authorities (HFAs) and 21.0% of programs supported by nonprofits - the second and third largest source of homebuyer assistance, respectively.

"Marked growth in the number of agencies administering homebuyer assistance programs reflects how affordability challenges are driving demand for affordable pathways to homeownership," said DPR Founder and CEO Rob Chrane. "These emerging community champions play a vital role in making home homeownership more accessible to LMI households and marginalized demographics who have lower rates of homeownership."

"At the same time, agencies are responding to near historic low new listing figures by opening program support of manufactured and multifamily housing," continued Chrane. "This effectively expands inventory options for homebuyers that rely on these programs."

A more detailed analysis of the Q2 2023 HPI findings, including infographics and examples of many of the programs described in this release, can be found on DPR's website at: https://downpaymentresource.com/professional-resource/a-guide-to-q2-2023-homebuyer-assistance-program-trends/.

For a complete list of homebuyer assistance programs by state, visit: https://downpaymentresource.com/wp-content/uploads/2023/07/HPI-state-by-state-data.Q22023.pdf.

Methodology

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 communicates with over 1,300 program providers throughout the year to track and update the country's wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates (MCCs) and affordable first mortgages, in the DOWN PAYMENT RESOURCE(r) database.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents.

For more information, visit: https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 10
2023
Business, Free News Articles, Real Estate, Reports and Studies

Down Payment Resource Reports on Homebuyer Assistance Programs for People with Disabilities for Disability Pride Month

ATLANTA, Ga. -- In celebration of Disability Pride Month, Down Payment Resource (DPR) has issued a report on the 23 U.S. homebuyer assistance programs that are specifically designed to support people with disabilities and their family caregivers on their journey towards homeownership. While people with disabilities may be eligible for any of the 2,300-plus U.S. homebuyer assistance programs, this report sheds light on programs specially developed to promote accessibility and inclusivity for aspiring homeowners with disabilities.

For many people with disabilities, the dream of homeownership can feel out of reach. Financial limitations due to reduced employment opportunities or the need for additional support services and difficulty finding accessible housing are just a few common challenges.

An analysis of the 23 programs showcases the range of assistance available to promote homeownership for people with disabilities:

* Financial Assistance Range: The programs offer homebuyer assistance ranging from $10,000 to $109,986.

* Availability: The programs are offered in 12 states across the country.

* Family Caregiver Support: 11 programs specifically extend assistance to family caregivers of disabled individuals, recognizing their crucial role in the homeownership process.

* Accessibility Modifications: Funding from four programs can be utilized to support accessibility modifications, ensuring homes are tailored to the unique needs of individuals with disabilities.

* Layered Assistance: 14 programs can be combined with other homebuyer assistance programs, providing individuals with additional financial support and resources.

* Program Types: The homeownership assistance programs encompass various types, including four affordable first mortgages, 12 silent second mortgages, three soft seconds, one grant, one voucher program, one combined assistance program and one below market rate (BMR)/resale restriction program.

* Forgivable Programs: Four of the programs offer forgivable assistance, provided that all program conditions, such as owner-occupancy, are met, further alleviating financial burdens for aspiring homeowners.

"Homeownership provides individuals with disabilities and their caregivers with greater independence and empowerment," said Down Payment Resource founder and CEO Rob Chrane. "It allows them to have control over their living environment, make decisions regarding accessibility modifications and customize their homes to meet their unique needs. This autonomy fosters self-confidence, dignity and a greater sense of belonging within the community."

"My hope is that this report will raise awareness about the available programs that provide vital support to those who need it most," continued Chrane. "By promoting accessibility and inclusivity, we can help individuals with disabilities and their family caregivers unlock the door to homeownership and all the benefits it brings."

Select homebuyer assistance programs for people with disabilities are profiled at https://downpaymentresource.com/professional-resource/disability-pride-spotlight-on-homebuyer-assistance-programs-for-people-with-disabilities/.

Individuals can search for their homebuyer assistance program eligibility for free at https://downpaymentresource.com/are-you-eligible/.

Methodology:

DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE® database for programs with incentives for people with disabilities. The DOWN PAYMENT RESOURCE® database tracks the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs using data sourced from more than 1,200 housing finance agencies (HFAs), municipalities, nonprofits and other housing organizations. Homebuyer assistance programs of all types are tracked, including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With tool sets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

May, 10
2023
Awards and Honors, Business, Free News Articles

Melinda Harris of Down Payment Resource named a 2023 Trailblazer by PROGRESS in Lending Association

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced that Director of Marketing Melinda Harris was selected to PROGRESS in Lending Association's list of 2023 Sales, Marketing and Public Relations Trailblazers. Now in its fourth year, the Trailblazers award program honors the most impactful sales, marketing and PR visionaries in the mortgage industry.

After joining DPR as a startup in 2008, Harris set her sights on raising consumer and industry awareness about how down payment assistance (DPA) programs can help people attain the dream of homeownership. By developing marketing collateral focused on debunking common myths surrounding homebuyer assistance, Harris is making DPA knowledge more mainstream and local program information easily accessible.

"Harris has been with DPR since day one - a testament to her dedication to inclusive, affordable homeownership for all," said DPR Founder and CEO Rob Chrane. "She embodies a marketing Trailblazer with her skill for crafting stories that educate and motivate players in our industry to embrace DPA."

Harris' marketing leadership has brought DPR to the forefront of the housing accessibility movement. In 2022 alone, her efforts helped drive an astounding 26,659 webinar registrations with a 43% attendance rate, more than double DPR's monthly website views, increase web conversion rates by 10% and grow Down Payment Connect subscribers by 200%.

"Being recognized as a 2023 Trailblazer by PROGRESS in Lending is an incredible honor," said Harris. "This accolade enhances my commitment to supporting DPR's lender, real estate agent, MLS and consumer listing site partners as they connect families with the financial assistance they need to build generational wealth through homeownership."

To view the complete list of 2023 Sales, Marketing and PR Trailblazers, visit https://mymortgagemindset.com/the-2023-trailblazers-award-winners-are/.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With tool sets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

May, 09
2023
Business, Free News Articles, Real Estate

Houston Association of Realtors implements Down Payment Resource to engage homebuyers with affordable pathways to homeownership

ATLANTA, Ga. -- The Houston Association of REALTORS® (HAR) has implemented Down Payment Resource (DPR) to bring Greater Houston area homebuyers' attention to homebuyer assistance programs in the wake of declining housing affordability. Data indicates that homebuyer assistance programs can be especially impactful in the Greater Houston area, where 89% of listings are eligible for assistance and HAR reports that only 40% of households could afford to buy a home in Q4 2022.

HAR is the second largest local real estate trade association in the nation, supporting more than 49,000 Houston real estate professionals. Notably, the organization has exceptionally strong engagement with Houston residents, evidenced by its multiple listing site's (MLS) status as the only local website to rank as a top 20 real estate website in the U.S. According to DPR analysis, 70 homebuyer assistance programs are available across HAR listings, including more than 50 down payment assistance programs, as well as numerous affordable first mortgage programs, mortgage credit certificates (MCCs) and combined assistance programs.

HAR's MLS integration with DPR enables consumers to search for properties that are eligible for homebuyer assistance, and it prominently flags assistance-eligible listings. The integration also makes it easy for Realtors to learn about homebuyer assistance programs and locate assistance-eligible listings that meet their clients' needs. Additionally, HAR members have access to DPR's library of marketing resources, which helps them raise community awareness about homebuyer assistance programs that can make homeownership more affordable.

"HAR has a longstanding track record of investing in its Realtor members and the communities it serves, which is reflected in its local reputation as a trusted source of housing information," said DPR Founder and CEO Rob Chrane. "Its production of a Housing and Rental Affordability Index is especially commendable because it exposes the financial burden residents face to obtain housing at the county and city levels. HAR's commitment to understanding and meeting the needs of its market has guided its partnership with DPR, which has the potential to connect thousands of Houstonians with the stability and wealth-building benefits of homeownership."

"HAR strives to equip the community and members with resources that help homebuyers enjoy sustainable homeownership in our hometown," said HAR Chair Cathy Treviño. "We are excited to bring affordable homeownership opportunities to light and help more people achieve their dreams of homeownership."

About Down Payment Resource:

Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,200 programs in 11 categories. Its award winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100(tm). DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. DPR's subscription based service, Down Payment Connect, helps agents and loan officers match buyers to available programs. For more information, please visit https://downpaymentresource.com/ and on Twitter at @DwnPmtResource.

About Houston Association of Realtors®:

Founded in 1918, the Houston Association of Realtors® (HAR) is a 50,000-member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling. It is the largest individual dues-paying membership trade association in Houston as well as the second largest local association/board of Realtors® in the United States.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

May, 02
2023
Business, Free News Articles

Down Payment Resource adds four team members to help the housing industry meet strong consumer demand for homebuyer assistance programs

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced that it has brought on four new team members to grow its sales footprint, expand its relationships with housing finance agencies (HFAs) and provide enhanced support to DPR's growing customer base.

"Intense consumer demand for homebuyer assistance has driven explosive usership across our tools for lenders, agents and listing sites - prompting us to grow our team with the addition of four incredibly knowledgeable and passionate housing finance professionals," said DPR Founder and CEO Rob Chrane. "I look forward to working with the expanded DPR family to champion innovative tools, strategies and programs that make homeownership more affordable and accessible for everyone."

The newly appointed team members are:

* Tani Lawrence, Enterprise Sales Executive

As Enterprise Sales Executive, Lawrence is responsible for driving business growth by showing housing professionals how DPR's solutions can help them better serve homebuyers and conduct operations more efficiently. Previously, Lawrence served as senior business development executive at a document fulfillment fintech, where she signed the company's largest lender client, and in a business development role at Optimal Blue, where she specialized in its Comergence risk management toolset.

* Angel Romero, HFA relationship manager

As HFA Relationship Manager, Romero wields more than a decade of mortgage industry experience to build and maintain DPR's relationships with hundreds of HFAs nationwide. Before joining DPR in March 2023, Angel served as AVP, post-closing manager and resident housing program expert at Cherry Creek Mortgage, where she helped drive the company's expansion into underserved markets and streamline down payment assistance (DPA) operations.

* Keith Futrell and Kathy Gault, DPA Program Specialists

As DPA program specialists, Futrell and Gault will use their extensive knowledge of compliance guidelines, DPA programs and affordable lending processes to provide DPR partners custom DPA insights and strategies.

Futrell has nearly two decades of housing finance industry experience as a mortgage account manager, processor and underwriter, and he has specialized knowledge underwriting DPA programs. In his previous role as an underwriter for Allen Tate Companies, Futrell reviewed and issued two or more loans per day on average and was named MVP of Underwriting in 2019 and 2021.

Prior to joining DPR, Gault was senior strategic products and affordable housing programs coordinator at Mountain West Financial, Inc. In this role, Gault curated the lender's DPA program roster, trained loan originators on new DPA programs and managed DPA programs.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents.

For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Apr, 25
2023
Business, Free News Articles, Reports and Studies

Down Payment Resource Issues Q1 2023 Homeownership Program Index Report

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry's leading technology for connecting homebuyers with homebuyer assistance programs, issued its Q1 2023 Homeownership Program Index (HPI). The firm's analysis revealed a 0.5% uptick in the number of homebuyer assistance programs available to help people finance homes, raising the number of programs to 2,362.

Methodology

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 communicates with over 1,200 program providers throughout the year to track and update the country's wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates (MCCs) and affordable first mortgages, in the DOWN PAYMENT RESOURCE(r) database.

Key Findings

The Q1 2023 HPI examined a total of 2,362 homebuyer assistance programs that were active as of April 7, 2023. Key findings are as follows:

* The majority of down payment assistance (DPA) programs are forgivable. 57.8% of DPA programs - which take the form of grants, community second mortgages or a combination of the two - are forgivable, meaning that they never have to be repaid as long as program conditions are met. Of all types of homebuyer assistance, 43.4% percent of programs are forgivable. The share of both categories of forgivable programs increased fractionally over last quarter.

* Incentivized programs are on the rise. There was a 3% increase in incentivized programs - which are geared toward public servants such as teachers and protectors, Native Americans, people with disabilities and veterans, among others - over the previous quarter. Programs with incentives now make up 17.5% of all available programs.

* Support for multifamily properties increased. Programs that support multifamily homeownership saw a 2.2% increase over the previous quarter. These programs now make up 29.8% of all homebuyer assistance offerings.

* There was an uptick in programs without a first-time homebuyer requirement. DPA programs without a first-time homebuyer requirement grew by 2% in Q1 2023. 39.7% of all assistance offerings do not feature a first-time homebuyer requirement.

"The increase in down payment assistance for several consecutive quarters represents growing opportunities for homebuyers that have been traditionally underserved," said DPR Founder and CEO Rob Chrane. "DPR will continue to raise awareness about the myriad assistance programs available and enhance our solutions that enable housing professionals to help more people achieve their homeownership goals."

A more detailed analysis of the Q1 2023 HPI findings, including infographics and examples of many of the programs described in this release, can be found on DPR's website at https://downpaymentresource.com/professional-resource/q1-2023-homebuyer-assistance-program-trends/.

For a complete list of homebuyer assistance programs by state, visit https://downpaymentresource.com/wp-content/uploads/2023/04/HPI-state-by-state-data.Q12023.pdf.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Twitter: @DwnPmtResource #downpaymentassistance #HPIreport #affordabilitycrisis #housingaffordability #mortgage #housingequity

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Apr, 03
2023
Awards and Honors, Business, Free News Articles

Rob Chrane of Down Payment Resource honored as a 2023 Tech All-Star by Mortgage Bankers Association

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry's leading technology for connecting homebuyers with homebuyer assistance programs, announced today that its founder and CEO Rob Chrane has been named a 2023 MBA NewsLink Tech All-Star by the Mortgage Bankers Association (MBA). The MBA is the leading professional group for the mortgage industry with more than 2,100 member companies. Its Tech All-Star awards are presented to individuals who deliver significant, impactful contributions to the mortgage industry.

Chrane was recognized for developing innovative tools that enable mortgage lenders, real estate agents and multiple listing services to make affordable home financing opportunities more accessible to consumers and easier to originate. DPR keeps tabs on every homebuyer assistance program in the country by communicating with over 1,200 program providers year-round and keeping more than 2,300 down programs up-to-date in its DPA Directory.

"I am grateful and very honored to receive this award from MBA because, for more than a decade, my team and I have made it our mission to give housing professionals the tools and resources they need to help more borrowers achieve homeownership, particularly those in underserved communities," said Chrane. "I hope that this recognition will raise industry awareness about the far-reaching benefits that affordability programs offer to homebuyers and housing professionals."

Chrane's nomination was supported by Meg Burns, Executive Vice President, Housing Policy Council, a trade association for mortgage originators, servicers, insurers and settlement service providers. "There is no other single place to turn for this important information, and Rob's dedication to creating the platform and updating the information regularly is meaningful, commendable, and certainly worthy of recognition as an MBA Newslink Tech All-Star," Burns wrote in her recommendation.

Tech All-Star winners received a plaque and were honored during a live ceremony earlier today at the MBA Tech Solutions Conference and Expo in San Jose, Calif. They also are featured in MBA NewsLink, the trade association's online news channel.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 21
2023
Business, Free News Articles, Real Estate, Reports and Studies

78.9% of metro Atlanta residential housing inventory is eligible for down payment assistance – offsetting price and interest rate impact for aspiring homeowners

ATLANTA, Ga. -- As metro Atlanta homebuyers encounter the challenging trifecta of sharply rising home prices, elevated interest rates and institutional investor depletion of starter home inventory, Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, released a comprehensive report on the 46 active metro Atlanta homebuyer assistance programs. DPR issued the report to raise community awareness about resources that can make homeownership attainable for more families.

Methodology:

DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE(r) database for active programs in 11 metro Atlanta counties. The DOWN PAYMENT RESOURCE(r) database tracks the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs using data sourced from more than 1,200 housing finance agencies (HFAs), municipalities, nonprofits and other housing organizations. Homebuyer assistance programs of all types are tracked, including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages. DPR's market impact findings were produced by cross-analyzing its program data with First Multiple Listing Service (FMLS)-provided listing data.

Homebuyer assistance program findings:

* 37 of the 46 active programs currently have funding. Program funding is subject to fluctuation throughout the year depending on the seasonality of program funding and secondary market conditions among other factors.

* At least three programs are targeted toward public servants including educators, military service members, firefighters, police officers and medical professionals.

* Only 18 of the 46 programs have a first-time homebuyer eligibility requirement.

* 33 of the programs are forgivable, provided that all program conditions, such as owner-occupancy, are met.

Market impact findings:

* 78.9% of listings are eligible for one or more homebuyer assistance programs.

* Assistance amounts range from $2,000 to $25,000.

* Assistance is available for homebuyers that earn as much as $152,000 per year to purchase homes that cost as much as $548,000, noting that income and price limits are subject to household size, property location and could be higher in certain targeted areas.

* Listings in the studied area are eligible for $14,341 in assistance on average.

"Many people have given up hope on buying a home in Atlanta because they do not know that homebuyer assistance programs are available to help," said Down Payment Resource founder and CEO Rob Chrane. "As a community, we need to raise awareness about affordable pathways to homeownership."

"As a long-time Atlanta resident and housing industry professional, watching the average Atlanta home price nearly double over five years as investors pillage starter home inventory has been gut-wrenching because it makes sustainable homeownership less accessible to those who need it most," said Chrane. "Homeownership is about far more than securing the deed to four walls and a roof; it is the primary avenue for building generational wealth and supports long-term financial stability."

Select homebuyer assistance programs available in Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry and Rockdale County are profiled at https://downpaymentresource.com/professional-resource/spotlight-on-atlanta-homebuyer-assistance-programs/.

Individuals can search for their homebuyer assistance program eligibility for free at https://downpaymentresource.com/are-you-eligible/.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With tool sets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Feb, 28
2023
Alliances and Partnerships, Business, Free News Articles, Software

HomeScout partners with Down Payment Resource to capture consumer demand for homebuyer assistance program information

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced that it has partnered with HomeScout LLC to help mortgage lenders generate and convert more leads by meeting heightened consumer demand for information about affordable pathways to homeownership.

HomeScout provides a suite of tools and services to help mortgage lenders increase production by generating and nurturing in-market homebuyer business at the early stages of the home buying journey. With affordability challenges causing many qualified borrowers to sideline themselves from home buying, HomeScout has partnered with Down Payment Resource to rally homebuyer engagement with programs that reduce the costs of homeownership.

HomeScout has embedded Down Payment Resource's down payment assistance (DPA) finder in its partner-branded property search sites, thereby flagging listings that are eligible for homebuyer assistance programs including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages. Each eligible listing invites consumers to discover which programs and how much funding they may be eligible for by supplying basic qualification information such as household size and income. Loan originators are notified when consumers engage with the DPA tool, enabling them to reach out with financial guidance at the earliest signs of homebuyer intent.

"Consumers' eagerness to engage with our tools continues to signal an immense, unmet appetite for homebuyer assistance," said DPR Founder and CEO Rob Chrane. "By making DPA program information easily accessible through its consumer-facing portal and loan originator-branded landing pages, HomeScout is helping lenders see the opportunity homebuyer assistance programs offer to fill sales pipelines while helping qualified borrowers overcome financing hurdles to homeownership."

"Rob and his team are moving the needle by exposing a groundswell of consumer DPA interest, but the fact remains that consumers need lender support to finance a mortgage with down payment assistance," said HomeScout Founder and CEO David Camp. "HomeScout's partnership with Down Payment Resource opens additional avenues for transactions for lenders, aligning with our mission to help our clients increase production."

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

About HomeScout:

HomeScout is a lender-centric platform dedicated to growing conversions and retention rates for the mortgage industry. Built by real estate and mortgage industry veterans, HomeScout provides an extraordinary suite of solutions to best serve in-market home buyers and sellers, while also providing the necessary tools to amplify business growth.

With HomeScout, consumers will find all the tools they need to help them through the home buying and selling journey, including a branded and secure search portal.

HomeScout is committed to the retention and growth of database clients while providing commission security and consistency for mortgage professionals and organizations.

For more information on HomeScout visit https://homescout.realty.com/.

Twitter: @DwnPmtResource #downpaymentassistance #mortgagemarketing #proptech #fintech

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

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