First Multiple Listing Service® Makes Plans to Bring Down Payment Resource to Southeast

ATLANTA - April 1, 2013 - PRLog -- Atlanta, GA -- First Multiple Listing Service® (FMLS) today announced plans to integrate Down Payment Resource into FMLS’s property listing data, expanding the awareness and reach of down payment assistance programs available to southeast area homebuyers. Atlanta-based Down Payment Resource, the nation’s only web-based aggregator of homebuyer programs, provides information about down payment assistance, affordable mortgages, and rehab loans during the home search process. The tool helps uncover options that may make buying a home more affordable.

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 lending environment prevents many qualified, would-be buyers from taking advantage of lower home prices and rock bottom interest rates. In addition, consumer studies find that the down payment is the number one obstacle to homeownership. Many homebuyers are unaware of all their home financing options, including down payment assistance.

Cantey Davis, President of First Multiple Listing Service® said, “Our members look to us to provide products and services that can help them become more profitable by exceeding clients’ needs and expanding their base. Down Payment Resource is one such product. FMLS is exceptionally proud to partner with Down Payment Resource, promoting greater business success through use of new technology.”

Once Down Payment Resource is implemented, the 28,000 members of FMLS will see a special icon on any property listing that may qualify for an assistance program. Agents will be able to search and suggest properties to their clients, find available assistance programs, as well as integrate Down Payment Resource into their existing websites. In addition, homebuyers will be able to click on the icon and answer a few simple questions to determine if they may also meet the qualifications for an assistance program.

“We see a renewed interest from consumers in homebuyer programs. In fact, a new study found that real estate-related searches on Google.com have grown more than 200 percent over the past four years, with frequently searched terms like FHA loan, home grants and homebuyer assistance,” said Rob Chrane, president of Down Payment Resource. “We’re pleased to work with FMLS and bring this important information to real estate professionals in the southeast.”  

About First Multiple Listing Service  
First Multiple Listing Service ® (FMLS) is the largest and most prestigious multiple listing service in the state of Georgia since 1957, representing more than 28,000 members from all real estate specialties including residential sales, commercial sales, development, property management, appraisal and auctions. Check out our state-of-the-art technology, tools and training by visiting us online at www.fmls.com. (http://www.fmls.com/)

About Down Payment Resource
Down Payment Resource (DPR) is developed by Atlanta-based Workforce Resource®, a web-based software company with a mission to connect people with hard-to-find financial resources for better living. The tool helps potential homebuyers become qualified buyers by connecting them to down payment assistance funds they may not have otherwise known existed. DPR, winner of the 2011 Inman News Innovator “Most Innovative New Technology” award, is available primarily through Multiple Listing Services and Realtor Associations in select markets (http://www.workforce-resource.com/site/partnerships) across the country. For more information, please visit www.DownPaymentResource.com.