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MARIS Launches Down Payment Resource
New web-based tool provides a simple, single source for Realtors to find down payment assistance program information for eligible for-sale properties
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. Named by Inman News as the 2011 “Most Innovative New Technology,"
On MARIS's website, Realtors will now see a special DPR icon on any property listing that may qualify for an assistance program. The tool helps bridge the down payment gap for homebuyers, as well as move real estate transactions forward in a difficult lending environment. 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 and answer eight simple questions to determine if they may also meet the qualifications for the assistance program.
About 75 percent of St. Louis area residential listings may be eligible for one or more down payment assistance programs. DPR is tracking and integrating 111 unique, funded assistance programs in the area.
The State of the Nation's Housing 2012 report found that the monthly mortgage payment for the typical home currently compares more favorably to rents than at any time since the early 1970s. However, the stringent credit environment prevents many would-be buyers from taking advantage of lower home prices and rock bottom interest rates.
There are hundreds of millions of dollars in homebuyer assistance programs available throughout the country, but 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 the process for all involved.
"Consumer studies continue to demonstrate the staying power of the dream of homeownership. At the same time, saving for a down payment remains the number one obstacle to buying a home, keeping many otherwise qualified homebuyers on the fence," said Rob Chrane, president and founder of Workforce Resource. "With DPR, MARIS is providing a unique way to help its members access up-to-date information on St. Louis area homebuyer assistance options."
About Mid America Regional Information Systems (MARIS)
Incorporated in 1995, St. Louis-based MARIS provides services to REALTORS® and Real Estate Professionals across Greater St. Louis. MARIS prides itself on offering premium customer service and leading edge technology to 9,000 members making them, in turn, able to offer exceptional professionalism and service to the home buying and selling public.
For more information, please visit http://www.marisnet.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;
For more information, please visit http://www.workforce-