Improved Down Payment Search Tool Available to Minnesota Homebuyers

ST. PAUL, Minn. - Dec. 16, 2013 - PRLog -- The Minnesota Homeownership Center has launched a new interactive search tool for down payment assistance on their website, hocmn.org (http://www.hocmn.org/buyingahome/down-payment-assistance-in-minnesota/).  The search tool is powered by Down Payment Resource (DPR), the nation’s only aggregator of homebuyer programs, and features an easy-to-use interface that previews potential down payment programs as the homebuyer answers a few simple questions.

DPR helps bridge the down payment gap for homebuyers by connecting them to resources they may not have otherwise known existed. The Minnesota Homeownership Center uses its local expertise and partnerships to ensure the ongoing integrity of Minnesota-specific program information within the tool.

Many first-time buyers are unaware that they may qualify for down payment or other entry cost assistance programs in Minnesota.  It can be especially challenging to understand the requirements, benefits and application process for multiple programs.

“Generating awareness of, and easy access to, down payment programs is one of the ways the Center is breaking down barriers to affordable homeownership, especially for low- to moderate-income Minnesotans.” Stated Julie Gugin, Executive Director of the Minnesota Homeownership Center.  “This new online tool will simplify access to important information that homebuyers need in order to become, and remain, successful homeowners.”

“The Minnesota Homeownership Center’s focus on sustainable homeownership through education makes them a natural partner. We are pleased to continue our successful partnership to help more homebuyers access information about important down payment assistance programs," said Rob Chrane, president of Down Payment Resource.

Also in Minnesota, DPR is integrated into Multiple Listing Service (MLS) property listing data with NorthstarMLS and the Southeast Minnesota Association of REALTORS MLS. Through these partnerships, eligible listings are flagged and can match eligible homebuyers and eligible properties to available assistance programs. In both markets, a significant majority of residential listings may be eligible for one or more down payment assistance programs.


About the Minnesota Homeownership Center
Founded in 1993, the Minnesota Homeownership Center is celebrating 20 years of promoting successful homeownership throughout the state and has been one of the state’s primary responders to the foreclosure crisis.  The Center has worked to achieve its mission by empowering a network of more than 50 community-based organizations to provide education and counseling services to potential homebuyers and existing homeowners working to sustain their mortgages. For more information, visit www.hocmn.org.

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. DPR 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://downpaymentresource.com/partners_/) across the country. For more information, please visit DownPaymentResource.com (http://www.downpaymentresource.com/).