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.

Check here to see if your buyer may be eligible for down payment assistance. 

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. 

If you want to learn more about how DPR can help your real estate business, sign up for a free webinar or check out this recorded training video

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 Upcoming live webinars

Down Payment Programs: The Basics Tuesday, April 12 from 11-11:30am >>> Register Now! What is a down payment or homeownership program? How does it work? You’ll learn: • Most common down payment programs. • The basics of tax credits, grants and other homebuyer opportunities • How these programs differ • The one thing they all have in common DPR best practices for agents and loan officers Wednesday, April 20 from 11am-Noon>>> Register Now! Learn the latest best practices and fresh ideas from your peers for promoting homeownership programs to serve more new buyers. Learn how Down Payment Resource can work for you in our region. You’ll learn how to: • Engage prospects with down payment programs • Educate and connect with new buyers • Begin marketing down payment programs online • Gain new leads with social media • Find lender and housing agency resources
Down Payment Resource Archive Want to check out older DPR content? Click here to view the archive of previous DPR news, articles and other content on the NorthstarMLS Blog & Archive.
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We’re excited to share the new Down Payment Resource experience!

As shown below (comparing old to new), the new Down Payment Resource icon for MLS’s now displays on NorthstarMLS listings that qualify for one or more homeownership programs. DPR also launched an improved search form designed to increase conversions.

You can also incorporate this feature into your website’s public-facing home search experience, set up your own personal marketing tool and use the DPR icon on your email signature – all drive new leads directly to you. And all at no additional cost as part of your NorthstarMLS core service. To learn how, click “DRP (Down Payment Resource)” in the External Links box here on the Matrix home screen, or from the Home tab drop-down menu. If you are already using DPR on your website or in your personal marketing, be sure to check out the new, more intuitive icons and messages that are available.

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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.)

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