Down Payment Resource℠

Down Payment Resource assembles and analyzes complex assistance program criteria, enabling service providers to present their clients with information that leads to: preliminary determination of eligibility, critical marketplace knowledge, strengthened relationships and increased sales.

Based on household size, income, occupation and assets combined with desired location and type of housing, the online service identifies assistance that a:

• Bank or mortgage lender’s customer is qualified to receive, and may be used in conjunction with an appropriate first mortgage product.
• Real estate agents, home builder or residential developer recognizes may enhance the affordability of their listing, and that their customer can provide to a lender to improve financing options.
• Housing counseling agency’s client is qualified to receive, and can be factored into recommendations about lenders and financing options.

Service providers benefit by tapping into an expanded pool of qualified prospects, increasing customer satisfaction and referrals. They strengthen the security of the first mortgage and mitigate risk of loss from early payment default or reduce marketing expenses and time required to sell affordable units.

Down Payment Resource acts as a lead generation tool for those who display a customized link on their website, encouraging visitors to complete a self-administered questionnaire and quickly assess their assistance program eligibility. Also, when a prospective homebuyer clicks through to learn more about a home posted on a Multiple Listing Service that qualifies for downpayment assistance, a notice may appear and link to information including the online eligibility questionnaire. After completing this informative exercise, consumers frequently engage in ongoing interaction with service providers, leading to expanded sales opportunities.