Latest Homeownership Program Index Debunks 5 Down Payment Myths

Atlanta-based Down Payment Resource, the nation’s only data bank for home buyer programs, released its Third Quarter 2015 Homeownership Program Index earlier in October. The Homeownership Program Index (HPI) measures the availability and characteristics of down payment programs administered by state and local Housing Finance Agencies (HFAs), nonprofits and other housing organizations. State, local and national programs available in the Down Payment Resource registry were analyzed — these results were current as of September 30, 2015.

Nevada currently has 22 funded assistance programs through 10 agencies! More good news — Down Payment Resource is integrated right into Paragon as a free NNRMLS Member benefit. Listings that may be available for assistance are marked by this icon. We encourage you to click to discover more about assistance programs that may help your client, and you as their agent! When you click, you will be taken to a page (click for example) letting you know how many programs are available and the criteria the homeowner must meet. You are able to save the information for future use or email the page to your client for further discussion.

In the Homeownership Program Index report mentioned above, the following myths are debunked:

Myth 1: Programs are only for first-time homebuyers.
Myth 2: Homeownership programs make financing more difficult.
Myth 3: You need to put 20% down.
Myth 4: Programs aren’t available in my area.
Myth 5: It’s too expensive to buy in my market.

2015 infographic from DPRThis is exciting news for you as a REALTOR® and for your clients who may be unaware of all the options available to them. Click here to read success stories from home buyers, their agents and lenders.

For more information, please visit the DPR website.

 

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