According to 2017 loan data, 36% of mortgages across the largest U.S. cities were eligible for down payment help. Plus, the average down payment assistance benefit was $9,208. That means more than a third of buyers might be leaving money on the table!
The down payment ranks as the number one obstacle for potential homebuyers, and for some buyers, leaving money on the table could lead to them not being able to buy.
As a NorthstarMLS subscriber, you have access to Down Payment Resource, a core service that helps you help your clients identify these programs.
There are down payment assistance programs. Some of them help with down payments and closing costs. Eligibility depends upon several factors including the location of the home.
The DPR icon appears with "Find Down Payment Help" on potentially eligible listings in your clients' Portal as shown above.
For you in NorthstarMLS Matrix, this icon is on listings where down payment help is potentially available.
Both you and your clients can click on these DPR icons on listings for information.