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New York State’s REALTORS have access to Down Payment Resource tool to assist buyers

May 02, 2017
Albany, NY – May 2, 2017 –  The New York State Association of REALTORS® (NYSAR) has partnered with Down Payment Resource (DPR) to give it’s 53,000 REALTOR® members access to a searchable national databank of homebuyer programs they can employ to assist homebuyers.

This down payment program search tool will allow New York State’s REALTORS® to search and review eligibility and benefit details of all homeownership programs in New York, helping them connect their buyers with available programs.

The Atlanta-based Down Payment Resource’s database uses a proprietary rules engine that automates the process of matching eligible borrowers with affordable lending programs including down payment assistance, grants, Mortgage Credit Certificates and more. DPR tracks 100 programs spanning New York City to central and western New York. 

The primary challenge faced by many homebuyers today is the down payment. A recent DPR survey of future homebuyers found that more than 90 percent said they wanted information about down payment and closing cost programs from their agent or lender. 

“Every day New York’s REALTORS® educate and help guide first-time buyers through the process of purchasing their home,” said Duncan R. MacKenzie, CEO of the New York State Association of REALTORS®. “The Down Payment Resource search tool will help our members connect more consumers to programs that will help them make homeownership a reality.”

“Many renters remain on the sidelines because they over estimate their down payment and think they can’t buy yet. Information about homeownership programs can help start a conversation with a buyer and motivate them to evaluate their options,” said Rob Chrane, CEO of Down Payment Resource. “We’re pleased to partner with NYSAR to shine the light on these valuable programs for homebuyers.”

The New York State Association of REALTORS® is a not-for-profit trade organization representing more than 53,000 of New York State’s real estate professionals. The term REALTOR® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS®. These REALTORS® are also members of the New York State Association of REALTORS® as well as their local board or association of REALTORS®.

Down Payment Resource (DPR) creates opportunity for homebuyers, REALTORS® and lenders by uncovering programs that get people into homes. The company tracks more than 2,400 homebuyer programs through its housing finance agency partners. DPR has been recognized by Inman News as “Most Innovative New Technology” and the HousingWire Tech100™. DPR is licensed to Multiple Listing Services, REALTOR® associations, lenders and housing counselors across the country. For more information, please visit www.DownPaymentResource.com and on Twitter at @DwnPmtResource.  

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Ali Mann, RCE
Director of Divisions
518-463-0300x203 office
amann@nysar.com 
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