Study: 87% of Homes Qualify for Down Payment Help
87% of U.S. Homes Would Qualify for Down Payment Assistance
Did you know that many of your current potential home buying clients might qualify for a down payment assistance program? A recent analysis by Down Payment Resource (DPR) and RealtyTrac on the availability of down payment programs across the country found that 87 percent of U.S. homes qualify for down payment help.
You can view the full report here. Below are some of the key highlights taken from the analysis:
- Out of more than 78 million U.S. single family homes and condos, more than 68 million (87 percent) would qualify for a down payment program.
- The average amount of down payment assistance across all counties is $11,565.
- At least one down payment program is available in all 3,143 U.S. counties, and more than 2,000 counties have more than 10 down payment programs available.
- More than half of programs (54 percent) are Community Seconds, a second mortgage issued by an HFA or nonprofit organization with a very low or no interest rate.
How can DPR help generate more leads for my real estate business?
Whether you are new to DPR, or have been using it since it was incorporated into the MLS in 2010, DPR can be a great lead generator for your business. You can begin searching for homes in your client’s target area using NorthstarMLS and quickly match them with available funding for down payment assistance.
Any property listing in NorthstarMLS will display the DPR icon if a property is potentially eligible for payment assistance programs. If you have additional questions about DPR, contact them toll free at (877) 816-8050.
(Note: DPR can be accessed through links on the Matrix Home screen – in the External Links widget, or by hovering over the ‘Home’ tab and clicking ‘DPR’. If you would like to incorporate Down Payment Resource into your website, contact your Website developer or click here.)