HAR implements Down Payment Resource program
The Houston Association of Realtors (HAR) has implemented Down Payment Resource (DPR) to bring greater Houston-area home buyers’ attention to home buyer assistance programs in the wake of declining housing affordability.
Data indicates that home buyer assistance programs can be especially impactful in the greater Houston area, where 89% of listings are eligible for assistance and HAR reports that only 40% of households could afford to buy a home in Q4 2022.
HAR is the second largest local real estate trade association in the nation, supporting more than 50,000 Houston real estate professionals.
Notably, the organization has strong engagement with Houston residents, evidenced by its multiple listing site’s (MLS) status as one of the only local websites to rank as a top 20 real estate website in the U.S.
According to DPR analysis, 70 home buyer assistance programs are available across HAR listings, including more than 50 down payment assistance programs, as well as numerous affordable first mortgage programs, mortgage credit certificates (MCCs) and combined assistance programs.
HAR’s MLS integration with DPR enables consumers to search for properties that are eligible for home buyer assistance, and it prominently flags assistanceeligible listings.
The integration also makes it easy for Realtors to learn about home buyer assistance programs and locate assistance-eligible listings that meet their clients’ needs. Additionally, HAR members have access to DPR’s library of marketing resources, which helps them raise community awareness about home buyer assistance programs that can make homeownership more affordable.
“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.”
“HAR strives to equip the community and members with resources that help home buyers 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.”
HAR’s MLS integration with DPR enables consumers to search for properties that are eligible for home buyer assistance, and it prominently flags assistance-eligible listings.
About HAR
Founded in 1918, the Houston Association of Realtors (HAR) is a 50,000member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling. It is one of the largest individual duespaying membership trade associations in Houston as well as the second largest local association/board of Realtors in the United States.
About Down Payment Resource
Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,200 programs in 11 categories. Its technology helps the housing industry connect more home buyers to the down payment help they need. 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. DPR’s subscription based service,
Down Payment Connect, helps agents and loan officers match buyers to available programs.