Down Payment Resource Teams Up With Realtor.com To Help Home Shoppers Find Homebuyer Assistance Programs
Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, 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 Realtor.com/for everyone 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 home shoppers 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.”
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