The Houston Association of Realtors (HAR) announced this week that it has partnered with Down Payment Resource (DPR) to address declining housing affordability by raising awareness about homebuyer assistance programs in the Greater Houston area.
According to HAR, only 40% of households were able to afford a home in the fourth quarter of 2022.
“HAR strives to equip the community and members with resources that help homebuyers enjoy sustainable homeownership in our hometown,” said HAR Chair Cathy Treviño. “We are excited to bring affordable homeownership opportunities to light and help more people achieve their dreams of homeownership.”
Through the multiple listing service (MLS) integration with DPR, consumers can now search for properties that are eligible for homebuyer assistance, as these listings are prominently flagged. This integration also simplifies the process for Realtors to familiarize themselves with homebuyer assistance programs and locate assistance-eligible listings that match their clients’ requirements.
Furthermore, HAR members have access to DPR’s library of marketing resources, aiding them in raising awareness within the community about homebuyer assistance programs that enhance the affordability of homeownership.
“HAR has a longstanding track record of investing in its Realtor members and the communities it serves, which is reflected in its local reputation as a trusted source of housing information,” said DPR Founder and CEO Rob Chrane. “Its production of a Housing and Rental Affordability Index is especially commendable because it exposes the financial burden residents face to obtain housing at the county and city levels. HAR’s commitment to understanding and meeting the needs of its market has guided its partnership with DPR, which has the potential to connect thousands of Houstonians with the stability and wealth-building benefits of homeownership.”
Recent data reveals that homebuyer assistance programs can have a significant impact in this region, as 89% of listings are eligible for assistance.
Analysis conducted by DPR shows that there are 70 homebuyer assistance programs available across HAR listings, including more than 50 down payment assistance programs, in addition to various affordable first mortgage programs, mortgage credit certificates (MCCs), and combined assistance programs.
Down Payment Resource is a nationwide database that catalogues down payment assistance and affordable lending programs. With approximately 2,200 programs across 11 categories, DPR monitors funding availability, eligibility criteria, and benefits. Its technology has been recognized as the “Most Innovative New Technology” by Inman News and awarded the HousingWire Tech10.
DPR is licensed to MLSs, Realtor associations, lenders, and housing counselors nationwide. Their subscription-based service, Down Payment Connect, assists agents and loan officers in matching buyers with available programs.
Established in 1918, the Houston Association of Realtors is the second largest local real estate trade association in the United States. It supports over 49,000 real estate professionals engaged in various sectors of the industry, including residential and commercial sales and leasing, appraisal, property management, and counseling.
HAR is the largest individual dues-paying membership trade association in Houston and the second largest local association/board of Realtors in the United States. Its multiple listing site is the sole local website ranked among the top 20 real estate websites in the country
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