Partnership Expands Access To Down Payment Assistance
Down Payment Resource (DPR), a provider of an affordability intelligence platform, announced a partnership with ARMLS® (Arizona Regional Multiple Listing Service). Founded in 1982 and based in Tempe, Arizona, ARMLS has grown into one of the largest MLSs in the country, serving more than 38,000 subscribers.
Through the partnership, ARMLS subscribers gain access to Down Payment Connect, DPR’s tool that integrates its database of more than 2,700 down payment assistance (DPA) programs directly into listing data. Eligible listings are flagged with a special icon, making DPA-eligible properties easy for agents and potential buyers to identify.
According to DPR data, DPA can lower an applicant’s loan-to-value ratio by an average of 8.8%, helping lenders qualify more mortgage-ready borrowers and agents deliver better outcomes for homebuyers.
“Every one of ARMLS’ subscribers now has a direct line to the down payment assistance programs their clients need to get into a home,” said Rob Chrane, founder and CEO of Down Payment Resource. “Arizona has substantial DPA resources available, and pairing that with ARMLS’ reach means far more buyers will actually find out these programs exist and make use of them.”
Down Payment Connect provides ARMLS subscribers with a personalized landing page they can share on their websites and social media and in their email signatures to connect prospective buyers with available assistance. In Arizona, DPA is offered through 34 agencies and 61 programs, with an average assistance amount of $28,000. Programs are available to buyers earning up to $155,000 a year who are purchasing homes priced up to $484,350.
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