ATLANTA, Sept. 28, 2021 /PRNewswire/ -- California Regional Multiple Listing Service (CRMLS), the nation's largest and most recognized subscriber-based multiple listing service, proudly announces the launch of Down Payment Resource (DPR) to its more than 110,000 users. CRMLS will integrate the web-based tool into its property listing data, expanding its users' awareness of local down payment assistance programs available to homebuyers and helping these programs expand their reach.
Studies have long recognized that saving money for a down payment is a major barrier to homeownership. A recent LendingTree study concluded that 48% of renters are worried they'll never be able to own a home. 54% of the group surveyed said they couldn't afford a down payment.
DPR is the nation's leader in providing homebuyers and professionals with information on down payment assistance programs, grants, affordable first mortgages, tax credits, and more during the home search process. Approximately 60% percent of CRMLS's residential listings may be eligible for one or more down payment assistance programs. CRMLS systems will flag eligible listings with a Down Payment Resource icon, making it easy for CRMLS users to find and share available homebuyer programs with their clients.
"We want to provide our users the best MLS experience available, and we saw Down Payment Resource as a product that offers a distinct value," said CRMLS CEO Art Carter. "For the first time, our community of real estate professionals is empowered with a tool that helps them seek out down payment assistance programs."
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 know about or understand the requirements and benefits of multiple programs within each market. DPR uses today's technology to simplify that process for everyone involved.
"There are multiple consumer studies that demonstrate the dream of homeownership is alive and well, but the challenge of saving for a down payment can keep potential homebuyers on the sidelines," said Rob Chrane, CEO of Down Payment Resource. "With DPR, CRMLS is providing a unique way to help its members and California homebuyers find affordable homes and down payment options."
About California Regional Multiple Listing Service (CRMLS)
California Regional MLS is the nation's largest and most recognized subscriber-based MLS, dedicated to servicing more than 110,000 real estate professionals from 40 Associations, Boards, and MLS organizations. CRMLS is the industry powerhouse and thrives on providing the most relevant products and services to its subscribers. For more information on CRMLS, visit www.crmls.org.
About Down Payment Resource
Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for over 2,000 programs in 11 categories. Its award winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100™. DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. DPR's subscription based service, Down Payment Connect, helps agents and loan officers match buyers to available programs. For more information, please visit DownPaymentResource.com and on Twitter at @DwnPmtResource.
View original content to download multimedia:https://www.prnewswire.com/news-releases/crmls-brings-down-payment-resource-to-california-real-estate-professionals-and-homebuyers-301386902.html
SOURCE California Regional MLS