Northern New England Real Estate Network Launches Down Payment Resource

Oct. 26, 2011 - PRLog -- CONCORD, NH – Northern New England Real Estate Network (NNEREN®) and Atlanta-based Workforce Resource® announced the launch of Down Payment ResourceSM  (DPR) to NNEREN®'s more than 8,000 subscribers and potential homebuyers throughout New Hampshire and Vermont. DPR, linked with NNEREN®'s property listing database, will expand the awareness and reach of local down payment assistance programs available to homebuyers.

DPR is a web based tool that connects eligible homebuyers and eligible properties with government-funded programs for down payment assistance, affordable mortgages, and rehab loans. As Inman News' 2011 “Most Innovative New Technology” award winner, DPR is the industry's first product to aggregate down payment assistance information into one, online platform and integrate the information into Multiple Listing Service (MLS) listing data for homes currently on the market. The tool helps bridge the down payment gap for homebuyers, as well as move real estate transactions forward in a difficult lending environment.

With hundreds of millions of dollars in down payment assistance programs available throughout the country, it is challenging for housing industry participants and homebuyers to understand and be aware of the requirements and benefits of multiple programs in each market. DPR uses today's technology to simplify that process for all involved.

"By incorporating the Down Payment Resource icon into online displays, matched by property location and price, we will help buyers take a better-informed first step toward purchasing," said John Kinney, President of Northern New England Real Estate Network. "DPR will help bring clarity to this often-confusing element of the home buying process for all those involved, including the agent."

As real estate professionals and homebuyers search for New Hampshire and Vermont properties on the NNEREN® website, www.nneren.com, they will find a DPR icon displayed on any property listing that is eligible for one or more down payment assistance programs. Agents can search and suggest properties to their clients, quickly view details about available assistance programs, as well as integrate DPR into their existing websites. In addition, homebuyers can click on the DPR icon to answer eight simple questions to determine if they may also meet the qualifications for the assistance program.

More than 68 percent of residential listings may be eligible for one or more of the 274 down payment assistance programs that DPR is tracking in New Hampshire and Vermont.

"According to Trulia's latest American Dream survey, 51 percent of renters who wish to buy a home at this time said saving enough for a down payment is a major barrier to homeownership. Even with lower interest rates and home prices, the challenge of saving for a down payment can keep potential homebuyers on the fence," said Rob Chrane, president and founder of Workforce Resource. "With Down Payment Resource, NNEREN® is providing a unique way to help its members and the community find affordable homes and assistance options."

About Northern New England Real Estate Network
The Northern New England Real Estate Network (NNEREN®) is the multiple listing service (MLS) for New Hampshire and Vermont, with listings in New Hampshire, Vermont, Maine and Massachusetts. NNEREN® is a member network of real estate professionals licensed in New Hampshire and/or Vermont, and Affiliates. NNEREN® is owned by 26 shareholder Boards of REALTORS® in New Hampshire and Vermont. As the Multiple Listing Service (MLS), NNEREN® services members and operates the public website www.nneren.com.

About Workforce Resource
Founded in 2008, Workforce Resource® is a web-based software company with a mission to connect people with hard-to-find financial resources for better living. In 2010, the company launched Down Payment Resource to help turn potential home buyers into qualified buyers by connecting them to down payment assistance funding that they may not have otherwise known existed. DPR, winner of the 2011 Inman News Innovator "Most Innovative New Technology" award, is made available through Multiple Listing Services and is available in markets including, Minneapolis; western Wisconsin; suburban New York; central Florida; northern Illinois; southern Wisconsin; Tucson, Arizona; western North Carolina, and northern New England, with contracts to expand in areas such as Reno, Nevada. The product's assistance program information is expanding rapidly for nationwide coverage.

For more information, please visit, www.workforce-resource.com.