Author Archives: Down Payment Resource

Down Payment Resource’s Executive Vice President Sean Moss honored in National Mortgage Professional’s 2024 Industry Titans awards program

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced its Executive Vice President of Product and Operations Sean Moss has been selected as an Industry Titan by National Mortgage Professional (NMP) magazine. The award recognizes experienced professionals who show exceptional dedication, compassion and integrity who are improving the mortgage industry for both industry professionals and the clients they serve.

NMP recognized Moss for more than a decade of dedication to making homeownership possible for low-to-moderate income (LMI) homebuyers. Moss guides DPR to simplify, standardize and expand access to important but underutilized homebuyer assistance programs, including down payment assistance (DPA). With his laser focus on evolving DPR's products to empower professionals and homebuyers nationwide, Moss embodies the compassion and advocacy of an Industry Titan.

"I am deeply honored to be recognized as an Industry Titan by National Mortgage Professional magazine. This accolade is not just a reflection of my personal commitment, but it is a testament to the collective efforts of our team at Down Payment Resource," said Moss. "Our mission has always been to make homeownership more accessible, especially for low-to-moderate income families. By simplifying and expanding access to homebuyer assistance programs, we are not just offering financial solutions but are empowering dreams and building stronger communities. I am proud of the impact we've made and am excited to continue our work in revolutionizing the housing industry for the betterment of homebuyers and professionals alike."

Sean Moss has more than 18 years of experience in the real estate and finance industry. As DPR's executive vice president of product and operations, Moss oversees product strategy and development and collaborates with customers and partners to implement new solutions for affordable lending challenges. DPR keeps tabs on every homebuyer assistance program in the country by communicating with over 1,300 program providers year-round and keeping more than 2,200 programs up to date in its DPA Directory.

The full list of 2024 Industry Titans honorees can be viewed on the National Mortgage Professional website.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises 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 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced its Executive Vice President of Product and Operations Sean Moss has been selected as an Industry Titan by National Mortgage Professional (NMP) magazine. The award recognizes experienced professionals who show exceptional dedication, compassion and integrity who are improving the mortgage industry for both industry professionals and the clients they serve.

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

Down Payment Resource donates $10,000 to help an Atlantan buy a home this holiday season

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced a $10,000 donation to the Atlanta Neighborhood Development Partnership to be used as a grant to help an eligible homebuyer working with the local nonprofit housing agency.

"Atlanta is ranked first in home price appreciation (68.6%) and fourth in rent increases (30%) according to data reported by the Atlanta Regional Commission data, factors that make it even harder for first-time homebuyers to get their foot in the door," said DPR Founder and CEO Rob Chrane. "We are proud to partner with ANDP to help a local homebuyer have a homeownership stake in their community. We want to do all we can to tip the scales in favor of homeownership, particularly among traditionally underserved buyers."

ANDP develops, finances, and advocates for affordable housing that promotes racial equity and healthy communities where families thrive. The grant funded by DPR is intended for a buyer whose income is at or below 80 percent of the area median income (AMI) and not receiving additional financial assistance from ANDP. The funds can be used for down payment or closing costs (including a rate buydown) on the purchase of an ANDP property.

"We are pleased to receive donations year-round, but there's something special about gifts received during the holidays that just makes this gift very special. We appreciate the ongoing support of DPR, especially in these times when buying a home may seem out of reach for many," said John O'Callaghan, president and CEO of ANDP. "Gifts like these restore hope for our clients and help them take that all-important step toward building generational wealth through homeownership."

About ANDP:

ANDP was created in 1991 as a result of the merger of the Metropolitan Atlanta Chamber of Commerce's Housing Resource Center and the Atlanta Economic Development Corporation's Neighborhood Development Department. The impetus for ANDP's creation was to address the diminishing supply of affordable housing in the Metropolitan Atlanta region as well as to help reclaim declining neighborhoods in its core. Throughout its history, ANDP has supported the creation of more than 11,000 units of housing for people of low-to-moderate incomes. For more information, visit the ANDP Homes website.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises 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 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced a $10,000 donation to the Atlanta Neighborhood Development Partnership to be used as a grant to help an eligible homebuyer working with the local nonprofit housing agency.

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

Down Payment Resource highlights 61 down payment assistance programs offering up to $120,000 in funds for Veterans and service members

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, is highlighting homebuyer assistance programs to support Veterans, service members and their surviving spouses in conjunction with Veterans Day and Military Family Appreciation Month, both observed in November. While service members are eligible for any of the 2,200-plus U.S. homebuyer assistance programs, DPR found there are 61 programs offering up to $120,000 in assistance specifically developed to help them build, buy or make accessibility-related home renovations.

According to the Urban Institute, 78 percent of Veteran households were homeowners, 14 percentage points higher than the total population. Active-duty service members, who are often relocated every few years, had a homeownership rate of 43 percent. Military families are not only challenged by frequent relocation (Permanent Change of Station or PCS orders) but are struggling financially in a housing market with rising home prices and mortgage interest rates the highest seen since 2000. Results from the Blue Star Families' Military Family Lifestyle Survey indicate that housing costs and relocation issues have become increasingly stressful and expensive for service members in recent years, making assistance with down payment and other purchasing costs even more essential.

An analysis of the 61 programs showcases the range of assistance available to promote homeownership among Veterans, active-duty service members and their surviving spouses:

* Financial assistance range: The programs offer homebuyer assistance ranging from $2,000 to $120,000.

* Program types: The homeownership assistance program types consist of 24 second mortgage programs, 18 affordable first mortgage programs, 15 grants, and one each below market rate (BMR)/resale restriction program, combined assistance program, voucher program and other assistance type.

* Repayment features: Twenty-four programs offer forgivable assistance, provided that all program conditions, such as owner-occupancy, are met. Fifteen programs are given as gifts with no strings attached provided eligibility criteria are met.

* Program eligibility: Thirty-five programs are for first-time buyers, while 34 are open to repeat buyers or provide a waiver for service members and Veterans.

"Having assistance to buy now, even when interest rates seem high, can help our service members start to build equity, enjoy a sense of community, and have an asset they can keep or sell if they receive PCS orders," said DPR Founder and CEO Rob Chrane. "We are extremely grateful to our Veterans, service members and their families and hope these programs can unlock the doors to homeownership and all the benefits it brings."

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(r) database for programs with incentives for people with disabilities. 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 1,300 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 the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises 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, https://downpaymentresource.com/.

X/Twitter: @DwnPmtResource #downpaymentassistance #VeteransDay #MilitaryFamilyAppreciationMonth #Veterans

RELATED LINKS

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Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, is highlighting homebuyer assistance programs to support Veterans, service members and their surviving spouses in conjunction with Veterans Day and Military Family Appreciation Month, both observed in November.

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

Down Payment Resource reports housing authorities rolled out 54 homebuyer assistance programs in Q3 and are funding buydowns to offset home affordability crisis

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, reports that homebuyer assistance program administrators are responding to the mounting home affordability crisis by rapidly rolling out new homebuyer assistance programs and funding buydowns.

There are now 2,256 homebuyer assistance programs available to help people affordably finance homes, an increase of 54 programs over the previous quarter, according to DPR's Q3 2023 Homeownership Program Index (HPI) report.*

"Most first-time homebuyers are well aware that interest rates are hitting generational highs and affordability is in the gutter - but what they are not hearing is that there are 2,256 homebuyer assistance programs available to help," said Rob Chrane, founder and CEO of Down Payment Resource. "Program providers are working around the clock to ensure the programs they offer meet the needs of their markets. For this reason, many programs now allow funds to be used for buydowns and other popular financing strategies that take the edge off of monthly mortgage payments."

Key HPI Report Findings

An examination of the 2,256 homebuyer assistance programs that were active as of October 25, 2023, resulted in the following key findings:

* 295 programs will fund buydowns. Buydowns allow borrowers to lower their interest rates by paying an upfront fee. They have become a popular financing strategy as interest rates have surged.

- 253 programs will fund permanent buydowns. Permanent buydowns allow borrowers to lower the interest rate over the life of the mortgage loan by paying an upfront fee. 11.21% of programs support these buydowns.

- 66 programs will fund temporary buydowns. Temporary buydowns allow borrowers to lower their interest rates for a defined number of years at the beginning of the loan by paying an upfront fee.

* 224 programs will fund certain upfront loan fees. 9.93% of programs allow funds to be used to pay the upfront mortgage insurance premium (UFMIP) on FHA loans, the funding fee on VA loans and the guarantee fees on USDA loans.

* 71 programs will fund mortgage insurance (MI) buydowns. These programs allow funds to be used to lower monthly MI premiums.

* 50 new agencies began offering programs. More agencies have stepped up to administer homebuyer assistance programs as affordability worsens. Now, a total of 1,373 agencies provide assistance to aspiring homeowners, a 3.78% increase over the previous quarter.

A more detailed analysis of the Q3 2023 HPI findings, including infographics and examples of the programs described in this release, can be found on DPR's website at: https://downpaymentresource.com/professional-resource/the-down-payment-resource-q3-2023-homeownership-program-index-report/.

For a complete list of homebuyer assistance programs by state, visit: https://downpaymentresource.com/wp-content/uploads/2023/11/HPI-state-by-state-data.Q32023.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.

*On October 25, 2023, DPR updated the way it classifies certain homebuyer assistance programs that are available to the general public but also offer expanded benefits to veterans and military personnel. As a result of the update, DPR's total count of U.S. homebuyer assistance programs was adjusted downward; however, its breakdowns by region, assistance type and funding source remained the same. This change reflects an evolution of DPR's reporting methodology, not a reduction in the overall availability of homebuyer assistance. DPR normalized last quarter's data using its new counting methodology before calculating quarter-over-quarter trends.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises 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, https://downpaymentresource.com/.

Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, reports that homebuyer assistance program administrators are responding to the mounting home affordability crisis by rapidly rolling out new homebuyer assistance programs and funding buydowns.

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

Down Payment Resource highlights 42 Native American homebuyer assistance programs in honor of Native American Heritage Month

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, is highlighting 42 U.S. homebuyer assistance programs in 14 states that are specifically designed to support Native Americans (American Indians and Alaska Natives) in conjunction with Native American Heritage month. While Native Americans are eligible for any of the 2,300-plus U.S. homebuyer assistance programs, these programs were specifically developed to provide help with down payments and/or other home-buying costs for Native American homebuyers.

The Harvard Joint Center for Housing Studies reports that 56.7 percent of Native American households own their homes, a full 15.0 percentage points lower than white households. While the federal government is responsible for providing funding for housing programs on tribal lands, historically this funding has been insufficient, according to the National Indian Council on Aging. Native Americans have faced numerous obstacles when it comes to homeownership, says the Council, including high unemployment rates and poverty, with only 8 cents of wealth for every dollar of the average white American household.

An analysis of the 42 programs showcases the range of assistance available to promote Native American homeownership.

* Eligibility: Most programs are limited to members of federally recognized tribes for purchasing homes on reservations or within specified service areas.

* Financial assistance range: The programs offer homebuyer assistance ranging from $2,125 to $90,000.

* Income requirements: Ten programs have no income requirements. Thirty-two programs have income requirements that range from 80% to 120% of the Area Median Income.

* Availability: Assistance programs are offered in 11 states and the District of Columbia. The states with the most programs are Oklahoma (13), Michigan (9) and Oregon (4). Sixteen programs are statewide, and 25 are local.

* Program types: The homeowner assistance programs encompass various types, including 33 second mortgage programs, seven grant programs and two matched savings programs. Twenty-three programs are for first-time homebuyers only, and 19 programs can be accessed by repeat buyers.

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

"Native Americans continue to face hardships that can delay or prevent them from becoming homeowners, which is an important pathway to economic prosperity and community development," said DPR Founder and CEO Rob Chrane. "It's my hope that mortgage ready Native Americans will access our database to find programs specific to their tribe and region that can provide them with the resources and support they need to achieve homeownership."

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 1,300 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 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, is highlighting 42 U.S. homebuyer assistance programs in 14 states that are specifically designed to support Native Americans (American Indians and Alaska Natives) in conjunction with Native American Heritage month.

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

Six mortgage lenders inked deals with Down Payment Resource in September to support homebuyers with affordable pathways to homeownership

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced it has onboarded six mortgage lenders this September. DPR's expanded client base includes Elevations Credit Union, Embrace Home Loans, Homeowners Financial Group, HomeStreet Bank, RWM Home Loans and a regional bank. This significant milestone reflects the growing need for solutions that promote accessible and sustainable homeownership.

"With consumer awareness and demand for down payment assistance (DPA) programs on the rise, DPR has become an invaluable resource for lenders seeking to assist homebuyers to navigate the challenges posed by high interest rates and soaring home prices," said Down Payment Resource Founder and CEO Rob Chrane. "It is with great pride that we welcome these lenders who have a shared commitment to growing homeownership in their communities by supporting homebuyer assistance programs."

DPR's robust solution for enterprise lenders comes equipped with four tools that streamline the operationalization of homebuyer assistance programs. The searchable DPA Directory enables product managers to curate programs that meet secondary market requirements, CRA compliance goals and community needs. The Loan Officer Portal automatically matches incoming borrowers to approved assistance programs. The Underwriter Portal provides quick access to program guidelines, and the Consumer Portal generates leads by inviting homebuyers to search for DPA.

"Purchasing a home is a major financial decision that requires careful consideration. At Elevations Credit Union, we understand the significance of this decision and are dedicated to supporting our members throughout the process," said SVP Lending at Elevations Credit Union Elizabeth Million. "We are committed to our Colorado community and strive to make homeownership accessible for all our members, regardless of their circumstances. We recognize that obtaining a down payment can be a significant barrier to homeownership, and so we partner with down payment assistance providers to increase homeownership opportunities for all members, including those with low and moderate incomes, enabling us to continue investing in our Colorado community."

"It's important that our customers get the down payment assistance they need, so our partnership with DPR makes perfect sense," said Brian Gilpin, CFO and Head of Capital Markets with Embrace Home Loans. "Working with DPR enhances our efforts to promote sustainable, affordable homeownership for underserved communities."

"Homeowners Financial Group is committed to supporting our local communities. We are experts in local homebuyer assistance programs and strive to help everyone achieve the dream of homeownership," said Chief Operations Officer at Homeowners Financial Group Nelson De Leon. "Our partnership with Down Payment Resource enhances our ability to match prospective homebuyers with affordable lending products and ensures an exceptional customer experience."

"RWM is dedicated to helping as many people as possible achieve their dream of homeownership. We are proud to offer a variety of down payment assistance programs as a solution when the down payment is a barrier to purchasing a home," said RWM Home Loans Director of Sales Success Victoria Nash. "Our partnership with Down Payment Resource allows us to keep track of all of our approved DPA programs, in one easy-to-use directory. The LO and Underwriting Portals are huge time-savers for our team so that they can focus on what really matters - finding DPA matches for our borrowers and helping them become homeowners much sooner than they thought possible. This is a great resource for loan officers, homebuyers, Realtors, underwriters, processors and anyone who is looking for more information on how they can utilize down payment assistance 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 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 600,000 real estate agents.

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

For media queries, contact Depth: https://depthpr.com/contact-us/

Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced it has onboarded six mortgage lenders this September. DPR's expanded client base includes Elevations Credit Union, Embrace Home Loans, Homeowners Financial Group, HomeStreet Bank, RWM Home Loans and a regional bank. This significant milestone reflects the growing need for solutions that promote accessible and sustainable homeownership.

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

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

ATLANTA, Ga. /ScoopCloud/ -- 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/.

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.

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

Down Payment Resource Issues Q2 2023 Homeownership Program Index Report

ATLANTA, Ga. /ScoopCloud/ -- 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/.

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.

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

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

ATLANTA, Ga. /ScoopCloud/ -- 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/.

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.

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

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

ATLANTA, Ga. /ScoopCloud/ -- 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/.

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.

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

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

ATLANTA, Ga. /ScoopCloud/ -- 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.

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.

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

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

ATLANTA, Ga. /ScoopCloud/ -- 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/.

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.

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

Down Payment Resource Issues Q1 2023 Homeownership Program Index Report

ATLANTA, Ga. /ScoopCloud/ -- 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

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.

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

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

ATLANTA, Ga. /ScoopCloud/ -- 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/.

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.

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

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. /ScoopCloud/ -- 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/.

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.

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

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

ATLANTA, Ga. /ScoopCloud/ -- 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

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.

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

Down Payment Resource’s Q4 2022 Homeownership Program Index shows homebuyer assistance programs have increased in number for fifth consecutive quarter

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,351 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.82% from Q3 to Q4 2022. This marks the fifth consecutive quarter the number of homebuyer assistance programs has grown.

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 and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

Key Findings

The Q4 2022 HPI examined a total of 2,351 homebuyer assistance programs that were active as of January 6, 2023. Key findings are as follows:

* The net number of homebuyer assistance programs is up. The total number of programs increased by 42 in Q4 2022. Among them were five nationwide or multi-state programs and seven statewide programs.

* Support for first-time homebuyers increased. The number of programs dedicated to supporting first-time homebuyers now totals 1,315, up from 1,291 in Q3 2022.

* Support for multifamily homebuyers increased. Programs that support multifamily homeownership saw a 5.5% increase over Q3 2022. These programs now make up 29.3% of all homebuyer assistance offerings.

"While economic roadblocks caused the percentage of programs actively receiving funding to decrease marginally in Q4, homebuyer assistance still saw steady growth in 2022," said DPR CEO Rob Chrane. "Until home prices and mortgage rates decline and the housing market recovers, down payment assistance will be a crucial source of financial support for homebuyers that lack the savings to cover an inflated down payment."

A more detailed analysis of the Q4 2022 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/homebuyer-assistance-offerings-increase-for-the-fifth-consecutive-quarter-in-q4-2022/.

For a complete list of homebuyer assistance programs by state, visit https://downpaymentresource.com/wp-content/uploads/2023/01/HPI-state-by-state-data.Q42022.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/.

Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,351 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.82% from Q3 to Q4 2022.

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

Down Payment Resource presents Richmond Association of REALTORS® CEO Laura Lafayette with 2022 Beverly Faull Affordable Housing Leadership Award

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced that it selected Laura Lafayette, CEO of the Richmond Association of REALTORS® (RAR), as the winner of its 2022 Beverly Faull Affordable Housing Leadership Award. Now in its fifth year, the award program recognizes an individual or organization that has exhibited a steadfast commitment to expanding access to affordable homeownership.

The Beverly Faull Affordable Housing Leadership Award was created in memory of one of DPR's first employees, Beverly Faull, for her wholehearted dedication to the company's mission to provide greater visibility and access to homebuyer assistance programs. DPR received 51 nominations for this year's award cycle. A housing professional with three decades of experience in the industry, Lafayette was selected for her work expanding access to affordable housing as CEO of RAR and the Central Virginia Regional Multiple Listing Service.

Lafayette's most notable accomplishments include organizing local Affordable Housing Awareness Week initiatives for ten years running, which mobilized hundreds of volunteers across Richmond to help local affordable housing nonprofits build and repair homes. She also launched the Partnership for Housing Affordability, a nonprofit that champions affordable housing policies and programs in the Richmond region, and she led the creation and implementation of the Richmond Regional Housing Framework.

Some affordable housing initiatives that Lafayette is currently spearheading include a regional home repair program for low-to-moderate income seniors, a pilot low-income real estate tax relief program and a pilot initiative that provides partial real estate tax exemption to Richmond's affordable housing providers as a way to preserve existing affordable housing.

"Affordable housing accessibility has been a passion of mine for decades because I believe that everyone should have the opportunity to secure safe, sustainable homeownership for their family," said Lafayette. "I am incredibly grateful to DPR for their recognition and for supporting my mission to help industry professionals better meet the housing finance needs of the diverse Richmond community."

In recognition of her achievements, DPR will make a $5,000 donation on Lafayette's behalf to the charitable organization of her choice. Lafayette has opted to contribute the funds to the Maggie Walker Community Land Trust, a 501(c)(3) nonprofit that seeks to create affordable, sustainable homeownership opportunities for low- and moderate-income households. Lafayette established the organization in 2015 and has helped it become one of the fastest-growing community land trusts in the country. She currently serves on the board as the immediate past chair.

To learn more about Lafayette's work with the Maggie Walker Community Land Trust, visit https://maggiewalkerclt.org/.

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 #homebuyerassistance #affordablehousing @of_Richmond

Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced that it selected Laura Lafayette, CEO of the Richmond Association of REALTORS® (RAR), as the winner of its 2022 Beverly Faull Affordable Housing Leadership Award.

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

Down Payment Resource’s Rob Chrane honored by National Mortgage Professional’s inaugural Industry Titans award program

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced that National Mortgage Professional (NMP) selected its Founder and CEO Rob Chrane to its first cohort of Industry Titans honorees. The 2023 Industry Titans award program recognizes influential leaders that have made impactful contributions to the housing finance industry.

Chrane was honored for his work at DPR, a technology firm enabling the housing industry to connect homebuyers with homebuyer assistance programs that make the wealth-building advantages of homeownership more accessible. Consumers and housing professionals query DPR's database to discover homebuyer assistance programs more than 200,000 times a day. To date, more than 9.3 million unique consumers and housing professionals have used DPR to find home financing assistance.

"By spreading awareness about financial programs designed to uplift homebuyers through my work at DPR, I have the opportunity to help the housing industry meet community needs and help community members build wealth through homeownership," said Chrane. "It is an honor to be recognized by NMP for following my passion for affordable lending programs, trends and strategies."

Over the last year, Chrane has greatly expanded DPR's ability to raise awareness about homebuyer assistance programs by partnering with numerous multiple listing service (MLS) providers and consumer home search sites Zillow, Redfin, and Realtor.com. He also oversees the development of DPR's Homeownership Program Index (HPI), a quarterly report that uncovers DPA trends by surveying the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs.

Read the full list of 2023 Industry Titans in the January issue of National Mortgage Professional, or online at https://nationalmortgageprofessional.com/news/meet-nmp-2023-titans-industry.

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/.

Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, today announced that National Mortgage Professional (NMP) selected its Founder and CEO Rob Chrane to its first cohort of Industry Titans honorees. The 2023 Industry Titans award program recognizes influential leaders that have made impactful contributions to the housing finance industry.

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

OneKey® MLS introduces resource to help New Yorkers find homebuyer assistance programs

FARMINGDALE, N.Y. /ScoopCloud/ -- OneKey® MLS, the largest multiple listing service (MLS) in New York, has enhanced its consumer-facing listing site to help New Yorkers find homebuyer assistance programs they may be eligible for, such as down payment and closing cost assistance. This functionality is made possible through a partnership with Down Payment Resource, a technology company helping the housing industry connect homebuyers with homebuyer affordability programs.

* Enhancement to OneKey® MLS' listing website enables homebuyers to explore down payment assistance and affordable home financing programs through partnership with Down Payment Resource

* 68.3% of the residential housing inventory across OneKey® MLS' nine-county coverage area is eligible for at least one homebuyer assistance program with an average benefit of $28,500

Now, each listing on www.onekeymls.com that is eligible for homebuyer assistance contains a link in the details page to "Find Down Payment Assistance." When users input basic eligibility information, such as income, household size and other program qualification criteria, they are emailed a list of programs and the amount of assistance for which they may qualify.

OneKey® MLS serves nine counties encompassing New York City, Long Island and the Hudson Valley. An analysis of the MLS's coverage area shows that 68.3% of its residential listing inventory is eligible for at least one of 51 homebuyer assistance programs, including 39 down payment assistance programs, 11 affordable first mortgage programs and 1 housing choice voucher program. Program benefits range from $2,000 to $100,000 and can be used by homebuyers that earn as much as $162,000 per year to purchase homes priced up to $970,000. The average maximum program benefit is roughly $28,500.

"Consumer demand for affordable pathways to homeownership has never been stronger, yet many New Yorkers do not know that there are dozens of programs designed to give them the extra help they need to start building generational wealth through homeownership," said OneKey MLS CEO Richard Haggerty. "OneKey® MLS partnered with Down Payment Resource to empower consumers with the tools that broaden their homebuying choices."

"Homebuyer assistance programs are important tools for helping people attain homeownership, especially in New York, where the housing affordability index hit a 10-year low last month," said DPR Founder and CEO Rob Chrane. "Now, New Yorkers can look to OneKey® MLS and its REALTOR® subscribers for homebuyer assistance program education that may make the difference between renting and homeownership."

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/.

About OneKey® MLS:

OneKey® MLS, made possible by the merger of MLSLI and Hudson Gateway MLS, is one of the nation's leading Multiple Listing Services, serving over 50,000 REALTOR® subscribers and 4,500 participating offices throughout Long Island, Manhattan, and the Hudson Valley. OneKey MLS is dedicated to providing more comprehensive coverage, up-to-date statistics, and the best real estate tools and resources.

OneKey® MLS, the largest multiple listing service (MLS) in New York, has enhanced its consumer-facing listing site to help New Yorkers find homebuyer assistance programs they may be eligible for, such as down payment and closing cost assistance. This functionality is made possible through a partnership with Down Payment Resource, a technology company helping the housing industry connect homebuyers with homebuyer affordability programs.

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

Down Payment Resource releases Q3 2022 Homeownership Program Index

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), a technology provider helping the housing industry connect homebuyers with homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,309 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.6% from Q2 to Q3 2022.

This marks the fourth consecutive quarter of growth in homebuyer assistance programs. Increased program availability and funding are especially timely given recent research from Redfin indicating that the median U.S. down payment on a home grew from $32,917 in July 2019 to $62,500 in July 2022.

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 and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database. Homebuyer assistance programs that waive the first-time homebuyer requirement for veterans and military personnel are tracked as two separate programs to enable reporting on dedicated assistance for military buyers.

Key Findings

The Q3 2022 HPI examined a total of 2,309 homebuyer assistance programs that were active as of October 3, 2022. Key findings are as follows:

* The net number of homebuyer assistance programs continues to grow. The number of programs increased by 36 in Q3 2022, including 16 new statewide programs, seven new municipal programs and several new programs administered by employers or nonprofits. These programs provide assistance in the form of affordable first mortgages, community second mortgages and combined down payment and closing cost support, among other types of homebuyer assistance.

* More programs are receiving funding. More than four out of five (83.9%) programs are currently funded, and the number of actively funded programs grew by 34 in Q3 2022, a 2% increase over the previous quarter.

* Programs offering incentives for educators increased. The number of programs offering unique benefits for educators grew by 16.4% over the past quarter. The 10 new programs added this quarter brings the total number of homebuyer assistance programs for educators to 71 nationwide.

"Home price appreciation and low housing inventory have caused the median down payment to nearly double from this time two years ago," said DPR CEO Rob Chrane. "At the same time, rising interest rates are driving up monthly mortgage payments, making homeownership even more difficult to achieve. Consumers, lenders and real estate agents need to know about the large and growing number of homebuyer assistance programs available nationwide that can make a real difference."

Further analysis of the Q3 2022 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/homebuyer-assistance-programs-proliferate-in-q3-as-median-u-s-down-payment-skyrockets/.

For a complete, state-by-state list of homebuyer assistance programs, visit https://downpaymentresource.com/wp-content/uploads/2022/10/HPI-state-by-state-data.Q32022.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. The company tracks funding status, eligibility rules, benefits and more for approximately 2,200 programs in 11 categories. 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.

Twitter: @DwnPmtResource #downpaymentassistance

RELATED LINKS:

https://www.redfin.com/news/homebuyer-down-payments-doubled-during-pandemic/

Down Payment Resource (DPR), a technology provider helping the housing industry connect homebuyers with homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,309 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.6% from Q2 to Q3 2022.

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

San Antonio Board of REALTORS® implements Down Payment Resource to raise Realtor and homebuyer awareness of down payment assistance programs

ATLANTA, Ga. /ScoopCloud/ -- The San Antonio Board of REALTORS® (SABOR) today announced that it has partnered with Down Payment Resource (DPR) to provide its approximately 16,000 multiple listing service (MLS) subscribers with access to DPR's toolset that helps real estate agents connect clients with programs that can help save on down payments and closing costs.

SABOR is a primary resource homebuyers and sellers in the San Antonio area use to search and list local property listings and connect with a REALTOR®. SABOR's partnership with DPR will enable its REALTOR® members and MLS subscribers to identify SABOR listings that are eligible for homebuyer and down payment assistance (DPA) programs funded at the state, local and national level.

DPR reports that almost 86% of SABOR's property inventory is eligible for one or more of the 64 total homebuyer assistance programs in the Greater San Antonio area. Assistance amounts range from $5,000 to $30,000 and can be used by homebuyers that earn as much as $104,000 per year toward homes priced up to $647,000, though income and price limits are even higher in certain targeted areas. On average, homes in SABOR's service region are eligible for roughly $16,000.

"SABOR members have long been champions of the San Antonio community, and we are dedicated to helping homebuyers access safe and sustainable homeownership," said SABOR CEO Gilbert Gonzalez. "Our partnership with DPR will help our real estate members better serve their clients by shedding light on the ample homebuyer assistance programs available in our region. SABOR looks forward to further supporting homeownership in San Antonio with DPR's support and user-friendly digital tools."

"San Antonio is one of the least affordable U.S. cities for renters, which is why it is so important for residents to be connected with resources like down payment assistance to make the leap from renter to homeowner," said Rob Chrane, CEO of DPR. "We are proud to share our comprehensive database of homebuyer assistance programs - including down payment assistance, grants, affordable first mortgages and more - to help SABOR members better serve their communities with the financial resources that help make homeownership achievable."

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™. 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 DownPaymentResource.com and on Twitter at @DwnPmtResource .

About SABOR:

The San Antonio Board of REALTORS® is your primary resource when it comes to finding a REALTOR® and buying and selling in the San Antonio area. It is the largest professional trade association in San Antonio and represents over 15,000 REALTOR® members. SABOR's membership services ten counties including Bexar, Atascosa, Frio, Karnes, Kendall, LaSalle, McMullen, Medina, Uvalde, and Wilson. SABOR is one of over 1,200 local boards and 54 state and territory organizations of REALTORS® nationwide that make up the National Association of REALTORS® (NAR).

The San Antonio Board of REALTORS® (SABOR) today announced that it has partnered with Down Payment Resource (DPR) to provide its approximately 16,000 multiple listing service (MLS) subscribers with access to DPR's toolset that helps real estate agents connect clients with programs that can help save on down payments and closing costs.

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

Down Payment Resource releases Q2 2022 Homeownership Program Index

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,273 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.6% from Q1 to Q2 2022. This marks the third consecutive quarter the number of homebuyer assistance programs has grown.

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 and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

Key Findings

The Q2 2022 HPI examined a total of 2,273 homebuyer assistance programs that were active as of July 5, 2022. Key findings are as follows:

* The net number of homebuyer assistance programs increased. The number of programs increased by 35 Q2 2022. Among them were five nationwide or multi-state programs and 12 statewide programs. Assistance for first mortgages, combined down payment and closing cost support, community second mortgages and deed restriction programs were also added.

* Support for manufactured homes increased again. For the third consecutive quarter the number of programs that support manufactured home purchases have increased. 625 programs now support manufactured home loans, up from 594 in Q1 2022.

* Programs offering veteran exemptions grew. The number of programs that waive first-time homebuyer requirements for veterans increased from 176 to 184 (4.5%) this quarter.

"Despite a slight increase in the number of inactive and suspended programs, our analysis indicates that opportunities for homebuyer assistance are continuing to grow," said DPR CEO Rob Chrane. "With inflation reaching 40-year highs, aggressive interest rate hikes and limited housing inventory, connecting consumers with financial support for down payment and closing costs is more important than ever. In this especially challenging housing market, program providers are finding creative ways to help qualified homebuyers overcome economic obstacles and achieve the long-term financial benefits of homeownership."

Further analysis of the Q2 2022 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/more-homebuyer-assistance-programs-are-introduced-as-mortgage-rates-and-home-prices-swell/.

For a complete, state-by-state list of homebuyer assistance programs, visit https://downpaymentresource.com/wp-content/uploads/2022/07/HPI-state-by-state-data.Q22022.pdf.

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™. 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 DownPaymentResource.com and on Twitter at @DwnPmtResource.

Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,273 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.6% from Q1 to Q2 2022.

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

Down Payment Resource analysis finds that 33% of declined mortgage applications are declined for reasons addressable with homebuyer assistance

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from an analysis showing that a substantial share of mortgage loan applications are both declined for reasons that can be addressed with homebuyer assistance and eligible for homebuyer assistance programs.

Methodology:

Findings were derived by analyzing HMDA data for tens of thousands of declined purchase mortgage loan applications representing $3.7 billion in volume furnished by mortgage lenders. Loan applications declined for either insufficient cash-to-close or disqualifying debt-to-income (DTI) ratios were categorized as potentially recoverable with homebuyer assistance. Homebuyer assistance eligibility for this group of applications was determined by running loan application data - including location, home price, loan amount, income and homeownership history - through the DOWN PAYMENT RESOURCE® database.

Matching assistance programs were then applied to each loan to determine how applying homebuyer assistance to eligible declined loan files would have impacted loan-to-value (LTV) ratios.

KEY FINDINGS

Key findings are as follows:

* A large share of declined loan files were eligible for homebuyer assistance. 33% of all declined purchase mortgage loan applications were declined for either insufficient cash-to-close or disqualifying DTI ratios and also eligible for homebuyer assistance at the time of declination. The large share of loans potentially recoverable with homebuyer assistance highlights a significant, low-cost opportunity for lenders to increase purchase volume.

* Declined loan applications were typically eligible for multiple programs. On average, declined loan applications were eligible for 10 homebuyer assistance programs, indicating there are often multiple options available to homebuyers financing with homebuyer assistance.

* Many declined loans could have been recovered with homebuyer assistance. Applying homebuyer assistance to eligible declined loan applications would have reduced LTV by an average of 5.85%, making many of the loan applications recoverable. Lowering LTV can open the door to better and more affordable first mortgage scenarios, including conventional (rather than FHA) financing, reduced mortgage insurance costs and better interest rates.

"In light of National Homeownership Month and the state of the housing market, it is important for the mortgage industry to reflect on ways it can improve financing outcomes for homebuyers," said DPR CEO Rob Chrane. "Our analysis definitively shows that homebuyer assistance programs are the most promising pathway to homeownership for a sizable share of the homebuyer population. Yet, homebuyer assistance programs are seldom offered as an option. It is my hope that this information will help lenders better serve their communities by showing that qualified homebuyers who need down payment assistance are not a niche market, but a major market that continues to grow."

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.

Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from an analysis showing that a substantial share of mortgage loan applications are both declined for reasons that can be addressed with homebuyer assistance and eligible for homebuyer assistance programs.

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

OneKey MLS names Down Payment Resource partners as designated provider of down payment assistance tools

ATLANTA, Ga. /ScoopCloud/ -- OneKey® MLS, the largest multiple listing service (MLS) in New York, today announced that it has partnered with Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, to indicate MLS residential listings that may be eligible for down payment assistance and other homebuyer affordability programs.

OneKey MLS has 45,000 MLS subscribers and specializes in listing residential and commercial real estate in nine New York counties covering Long Island, the Hudson Valley and all five NYC boroughs. In addition to providing home directories to its subscribers, OneKey MLS enables consumers to search home listings on a public-facing search site.

"Many prospective buyers do not realize the wealth of down payment assistance programs available to them, even at the state and regional levels," said OneKey MLS CEO Jim Speer. "Thanks to our partnership with DPR, our subscribers can swiftly connect borrowers with the homebuyer education and assistance programs they need to achieve their financial dreams."

DPR's toolset is the latest of many time-saving resources that OneKey MLS offers consumers and subscribers. Through its new partnership with DPR, OneKey MLS will now flag listings eligible for homebuyer assistance programs on both its public- and subscriber-facing search pages. Down Payment Resource has already identified 54 programs available in OneKey MLS' area coverage for which 62% of its residential listing inventory is potentially eligible.

"Home prices across the United States have soared in the past year. New York state is no different, with low inventory driving the state's median home price up by 19.4% in 2021," said DPR CEO Rob Chrane. "Now, New Yorkers that are hoping to buy a home can count on OneKey MLS and its Realtor subscribers for homebuyer affordability guidance they may have never encountered otherwise."

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 OneKey® MLS:

OneKey MLS, made possible by the merger of MLSLI and Hudson Gateway MLS, is one of the nation's leading Multiple Listing Services, serving over 45,000 REALTOR® subscribers and 4,300 participating offices throughout Long Island, Manhattan, and the Hudson Valley. OneKey MLS is dedicated to providing more comprehensive coverage, up-to-date statistics, and the best real estate tools and resources.

OneKey® MLS, the largest multiple listing service (MLS) in New York, today announced that it has partnered with Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, to indicate MLS residential listings that may be eligible for down payment assistance and other homebuyer affordability programs.

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

realMLS enhances listing service with Down Payment Resource to help subscribers connect consumers with homebuyer assistance programs

ATLANTA, Ga. /ScoopCloud/ -- realMLS, serving 11,000 members in Northeast Florida, today announced that it has partnered with Down Payment Resource (DPR) to enhance its platform with DPR's suite of real estate agent tools that help MLS customers connect homebuyers with homebuyer assistance programs.

realMLS is a multiple listing service (MLS) which provides advanced tools and reliable listing data to their MLS members serving Baker, Clay, Duval, Nassau, Putnam and St. Johns County, Florida. According to DPR analysis, 44 homebuyer assistance programs are available for up to 63% of realMLS listings, including 35 down payment assistance programs, six affordable first mortgage programs, two mortgage credit certificates (MCCs) and one other program.

As a subscriber benefit, realMLS has integrated DPR with its listing data so properties that qualify for one or more homebuyer assistance programs will be searchable and flagged with the DPR icon. Additionally, realMLS subscribers will receive Down Payment Connect, a unique lead generation landing page that allows visitors to search for homeownership programs and Realtors to collect prospect contact information. Subscribers will also be given access to DPR's library of marketing resources, which includes graphics, social media images and customizable flyers.

"The median home price in realMLS' coverage area has spiked 25.5% over the last year, increasing the cost of a 3% down payment by tens of thousands of dollars for most homes," said DPR CEO Rob Chrane. "DPR tools equip realMLS subscribers to sustainably grow their business by helping families overcome one of the most frequently cited barriers to homeownership: the cost of a down payment."

"realMLS is focused on providing technology such as DPR which empowers our members to best serve consumers," said realMLS CEO Nicole Jensen. "DPR gives our subscribers an edge by making them the source on homebuyer opportunities to proactively address the homebuyer affordability challenges facing people living and working in our communities."

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 realMLS:

realMLS (a wholly-owned subsidiary of NEFAR) is a Multiple Listing Service for over 11,000 members in Northeast Florida focused on promoting a healthy marketplace, for members and their clients, by providing innovative tools and comprehensive listing data. realMLS partners with exceptional service providers to give members an array of choices to fit their business model. Members have access to statistical data products that are customizable, along with extensive property record data through their integration with Metro Market Trends, Inc., which provides detailed and accurate property information to its customers in Florida and Alabama. To learn more about realMLS go to https://www.realmls.com/.

realMLS, serving 11,000 members in Northeast Florida, today announced that it has partnered with Down Payment Resource (DPR) to enhance its platform with DPR's suite of real estate agent tools that help MLS customers connect homebuyers with homebuyer assistance programs.

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

Down Payment Resource teams up with Realtor.com to Help Home Shoppers Find Homebuyer Assistance Programs

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced that Realtor.com® has deployed DPR's search tool that helps home shoppers find homebuyer assistance programs.

DPR maintains a comprehensive catalog of all of the homebuyer assistance programs available in the United States, including down payment and closing cost programs, Mortgage Credit Certificates and affordable first mortgages. According to DPR's Q1 2022 Homeownership Program Index (HPI), there are 2,238 homebuyer assistance programs, with at least one available in each of the United States' 3,143 counties.

Realtor.com® has deployed DPR's search tool on https://www.realtor.com/foreveryone/ to support its Closing the Gap initiative, which is aimed at increasing the homeownership rate of underserved and underrepresented communities.

The search tool can be embedded in an organization's website and enables homeshoppers to search for homebuyer assistance programs by entering property, household and relevant eligibility information.

"Record-high home prices and record-low housing inventory are making it very challenging for people, especially underserved and underrepresented communities, to become homeowners - further exacerbating the homeownership gap," said DPR CEO Rob Chrane. "The good news is that there are thousands of homebuyer assistance programs available to help with down payment and closing costs, including many designed to support people of color becoming homeowners."

"Giving home shoppers the ability to find down payment assistance programs directly on Realtor.com is another step forward in our Close the Gap initiative," said Mickey Neuberger, chief marketing officer for Realtor.com. "This program brings together many different parts of our business in a focused effort to increase the home ownership rate for underserved and underrepresented groups. Systemic discrimination in real estate has held people back for far too long, it's time for us to all work together to make a change."

"We commend Realtor.com for its generous gift and pledge to match donations made to the Homeownership Council of America's (HCA) Equity Down Payment Assistance Fund, which supports homebuyers of color and low to moderate income homebuyers," continued Chrane. "Now home shoppers who may be eligible for those funds will be able to discover them with the help of Down Payment Resource."

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.

Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced that Realtor.com® has deployed DPR's search tool that helps home shoppers find homebuyer assistance programs.

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

Down Payment Resource releases Q1 2022 Homeownership Program Index

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced the release of its latest Homeownership Program Index (HPI). The firm's analysis of 2,238 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 46 from Q4 2021 to Q1 2022.

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 administrators 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 and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

Key Findings

The Q1 2022 HPI examined a total of 2,238 homebuyer assistance programs that were active as of April 6, 2022. Key findings are as follows.

* Marked increase in number of programs introduced. Programs introduced in Q1 2022 include two first mortgage programs, two combined funding programs, 10 grants and 32 second mortgage programs. This marks a 2.1% increase in the number of homebuyer programs available compared to Q4 2021.

* Largest gains in nonprofit programs. There was a 5.7% increase in nonprofit-sponsored programs introduced in Q1 2022. Additionally, there was a 2.3% increase in programs supporting home purchases in defined locales and a 1.3% increase in statewide programs.

* Support for manufactured housing continues to increase. 31 additional homebuyer programs opened eligibility to manufactured housing in Q4 2021. Now 28.8% of all homebuyer assistance programs support the purchase of manufactured homes.

* More than one third of programs do not have a first-time home buyer requirement. It is a common misconception that homebuyer assistance is only available to first-time homebuyers, however 38% of homebuyer assistance programs in Q1 2022 did not have a first time homebuyer requirement.

"Both the number of homebuyer assistance programs and the volume of available funding increased in Q1 2022, a trend we have observed for several consecutive quarters," said DPR CEO Rob Chrane. "With affordability on the decline in 79% of U.S. counties and the availability of homebuying assistance on the rise, homebuyers need real estate agents and mortgage lenders to connect them with programs that make homeownership more affordable."

Further analysis of the Q1 2022 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/more-homebuyer-assistance-programs-introduced-as-affordability-declines-in-most-u-s-counties/.

For a complete, state-by-state list of homebuyer assistance programs, visit https://downpaymentresource.com/wp-content/uploads/2022/04/HPI-state-by-state-data.Q12022.pdf.

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 DownPaymentResource.com and on Twitter at @DwnPmtResource .

Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced the release of its latest Homeownership Program Index (HPI). The firm's analysis of 2,238 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 46 from Q4 2021 to Q1 2022.

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

Spokane Association of REALTORS® rolls out Down Payment Resource to help subscribers connect homebuyers with down payment assistance

SPOKANE, Wash. /ScoopCloud/ -- The Spokane Association of REALTORS® (SAR) today announced that it has partnered with Down Payment Resource (DPR) to provide its 2,500 MLS subscribers with access to DPR's toolset that helps real estate agents connect clients with programs that can help save on down payments and closing costs.

SAR is a Spokane County, Washington-based organization that operates a multiple listing service (MLS) on behalf of its Realtor subscribers. Through its partnership with DPR, SAR will flag eligible listings with a DPR icon, making it easy for MLS subscribers to find and share available homebuyer assistance programs with their clients. According to DPR analysis, up to 70% of SAR listings may be eligible for one or more forms of homebuyer assistance, including down payment assistance programs, grants, affordable first mortgages and more.

SAR MLS subscribers will also receive access to other DPR tools, including Down Payment Connect, a personalized lead generation landing page where borrowers can search for homeownership assistance programs in their market, and marketing resources that help generate borrower excitement in the homebuying process.

"The median sale price of a home in Spokane soared 22.5% over the last year, which is pushing many otherwise qualified, entry-level homebuyers out of the market simply because they cannot save for down payment and closing costs at the same pace as appreciation," said DPR CEO Rob Chrane. "DPR helps SAR MLS subscribers strengthen the health of their community by providing families the lift they need to get into a home of their own."

"Spokane has become a hot market, so more buyers are looking for valuable information that will help them save on their home loan and down payment," said 2022 SAR President Eric Etzel. "We are proud to provide DPR tools to our MLS subscribers so they can help families access the down payment help they need to start building wealth as homeowners."

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 2,000 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™. 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 Spokane Association of REALTORS® (SAR):

The Spokane Association of REALTORS® was founded in 1911 as the voice for real estate in Spokane County, Washington. Today, the association has more than 2,500 broker and affiliate members. It wholly owns and operates a multiple listing service on behalf of its members.

Twitter: @DwnPmtResource @SpokaneREALTOR #MLS #Realtor #broker #downpaymentassistance

RELATED LINKS:

https://www.spokanerealtor.com/

The Spokane Association of REALTORS (SAR) today announced that it has partnered with Down Payment Resource (DPR) to provide its 2,500 MLS subscribers with access to DPR's toolset that helps real estate agents connect clients with programs that can help save on down payments and closing costs.

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

Down Payment Resource welcomes Marcy Ash, AMP, as Director of Strategic Projects

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced it has appointed Marcy Ash, AMP, as director of strategic projects. In her role at DPR, Ash will manage relationships with state Housing Finance Agencies (HFAs) and spearhead industry partnerships and strategies that help DPR deliver greater value to its customers.

"My passion is helping low- to moderate-income borrowers realize their dreams of homeownership, so I am thrilled to join DPR as the newest member of its dedicated team of housing industry experts," said Ash. "I look forward to building upon the company's exceptional reputation by connecting even more lenders, real estate agents and borrowers with the award-winning digital tools they need to expand sustainable homeownership accessibility."

Prior to joining the DPR team, Ash was assistant vice president and senior product manager at Huntington Bank, where she was responsible for developing, implementing and managing the company's affordable lending products and programs. As a result of Ash's efforts, Huntington Bank saw a 700% increase in the number of closed loans for low- to moderate-income borrowers through the Ohio Housing Finance Agency.

"Marcy brings over 28 years of valuable mortgage lending and product development experience to our organization," said DPR CEO Rob Chrane. "With her extensive expertise and proven passion for DPR's mission of connecting borrowers with down payment assistance programs, Ash will play a vital role in nurturing our organization's strategic projects and partnerships."

Ash is a state-certified continuing education instructor for Realtors in Ohio, Michigan and Kentucky. She has also been an annual guest speaker and moderator for the Ohio Housing Conference and has served as a member of the Ohio Housing Lender Advisory Board.

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 2,000 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™. 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.

Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced it has appointed Marcy Ash, AMP, as director of strategic projects. In her role at DPR, Ash will manage relationships with state Housing Finance Agencies (HFAs) and spearhead industry partnerships and strategies that help DPR deliver greater value to its customers.

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

Down Payment Resource Presents 2021 Beverly Faull Affordable Housing Leadership Award to Ruth Johnson

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced that Ruth Johnson, founder and CEO of Homes for Heroes, has been selected the winner of its fourth annual 2021 Beverly Faull Affordable Housing Leadership Award. Each year, the Beverly Faull Affordable Housing Leadership Award recognizes an individual or organization that has demonstrated outstanding leadership in broadening access to homeownership and affordable housing finance solutions.

Johnson was selected for founding Homes for Heroes, a national network of real estate, mortgage and local business specialists that provide housing services at a reduced cost to healthcare professionals, teachers, first responders, active military and veterans. To date, Homes for Heroes has helped give back $100 million in Hero Rewards to more than 50,000 heroes and their families so they can reach their homeownership dreams.

Each year, DPR makes a financial donation to the recipient's housing nonprofit of choice. Johnson has requested the donation be made to the Homes for Heroes Foundation, 501(c)3 nonprofit that aids heroes suffering from housing insecurity with housing assistance and home modification services. The foundation recently celebrated raising $1 million dollars to support heroes in need.

"I am incredibly honored to be named a Beverly Faull Affordable Housing Leadership Award recipient," said Johnson. "In the age of Covid, it is more important than ever to give back to the brave heroes that have remained dedicated to serving our country and its diverse communities throughout this crisis. Helping those heroes has been a lifelong passion of mine, and I look forward to continuing this mission with Homes for Heroes for years to come."

The Beverly Faull Affordable Housing Leadership Award is named in memory of Beverly Faull, a highly regarded housing industry veteran and one of DPR's first employees, who fully embraced the company's mission to provide greater visibility and access to down payment assistance programs.

Previous winners of this award include The National Association of Real Estate Brokers (NAREB), the oldest professional organization for Black and minority real estate professionals, Tonya Todd, Housing Director for Hilltop Securities, Inc. and John O'Callaghan, President and CEO of the Atlanta Neighborhood Development Partnership, Inc.

For more information about Johnson's ongoing work with Homes for Heroes, visit https://www.homesforheroes.com/.

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 2,300 programs in 13 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 DownPaymentResource.com and on Twitter at @DwnPmtResource.

Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced that Ruth Johnson, founder and CEO of Homes for Heroes, has been selected the winner of its fourth annual 2021 Beverly Faull Affordable Housing Leadership Award.

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

Down Payment Resource releases Q4 2021 Homeownership Program Index

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced the release of its latest Homeownership Program Index (HPI). The firm's analysis of 2,192 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database showed measurable quarter-over-quarter gains in program funding levels and an increased prevalence of programs aimed at assisting community heroes.

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 administrators 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 and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

Key Findings

The Q4 2021 HPI examined a total of 2,192 homebuyer assistance programs that were active as of January 6, 2022. Key findings are as follows.

* Funding levels are on the rise. 84% of programs had funds available for eligible homebuyers. That level of funding reflects a nearly 2% increase from Q3 2021.

* More programs now target community heroes. Nearly 9% of all homebuyer assistance programs available in Q4 benefit teachers, first responders, law enforcement officers, firefighters, healthcare workers and other providers of critical community services. Another 11% of programs offer benefits for veterans, members of the military and surviving spouses.

* Three out of four programs (73%) focus on helping homebuyers with down payments and/or closing costs. This figure includes repayable, partially forgivable and fully forgivable programs. Other major categories of assistance include affordable first mortgage programs (11%), Mortgage Credit Certificates (5%), matched savings programs and Housing Choice Vouchers.

* Assistance is available for repeat homebuyers and landlords. Approximately 38% of programs do not have a first-time homebuyer requirement. In addition, 27% of programs allow buyers to purchase a multi-family property as long as the buyer occupies one of the units.

* Availability varies by location. Three out of four (74%) programs are targeted to properties in specific locales such as cities, counties or neighborhoods, with the balance of programs available statewide through state housing finance agencies. The states with the most homebuyer assistance programs are California, Florida and Texas.

* Support for manufactured housing is increasing. While homebuyer assistance programs have historically favored site-built homes, as of Q4, 28% of programs allow manufactured housing as an eligible property type, up nearly 2% from the previous quarter.

"First responders, military, educators and other community service roles have been front and center for their extraordinary pandemic contributions," said DPR CEO Rob Chrane. "Many locales - especially in higher-cost markets - are determined to find creative ways to recruit and retain these workers, including by helping them make homeownership more affordable."

Further analysis of the Q4 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/homeownership-program-index-highlights-programs-for-community-heroes/.

For a complete, state-by-state list of homebuyer assistance programs, visit https://downpaymentresource.com/wp-content/uploads/2022/01/HPI-state-by-state-data.Q42021.pdf.

About Down Payment Resource:

Down Payment Resource (DPR) creates opportunity for homebuyers, REALTORS® and lenders by uncovering programs that get people into homes. The company tracks funding status, eligibility rules, benefits and more for more than 2,000 homebuyer assistance programs through partnerships with state and local program providers. DPR has been recognized by Inman News as a "Most Innovative New Technology" and named to HousingWire's Tech100(TM) list of the most innovative companies serving the mortgage and real estate industries. DPR is licensed to multiple listing services, REALTOR® associations, lenders and housing counselors across the United States and offers a subscription service, Down Payment Connect, to help agents and loan officers match buyers to available programs. For more information, visit https://www.downpaymentresource.com.

Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced the release of its latest Homeownership Program Index (HPI). The firm's analysis of 2,192 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database showed measurable quarter-over-quarter gains in program funding levels and an increased prevalence of programs aimed at assisting community heroes.

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