Only 40% of greater Houston households could afford to buy homes at the end of last year, according to data from the Houston Association of REALTORS®. To combat this, HAR has implemented a Down Payment Resource (DPR) into its Multiple Listing Service (MLS) to direct potential homebuyers toward assistance programs.
HAR says that 89% of listings in greater Houston are eligible for some kind of assistance. There are currently 70 various homebuyer assistance programs available across all HAR listings, including down payment assistance programs, first mortgage programs, mortgage credit certificates and other types of assistance.
Through the DPR, consumers will be able to search directly for properties that are eligible for assistance. HAR members will also have access to a library of marketing resources related to homebuyer assistance programs.
“HAR has a longstanding track record of investing in its Realtor members and the communities it serves, which is reflected in its local reputation as a trusted source of housing information,” said DPR Founder and CEO Rob Chrane. “HAR’s commitment to understanding and meeting the needs of its market has guided its partnership with DPR, which has the potential to connect thousands of Houstonians with the stability and wealth-building benefits of homeownership.”
“HAR strives to equip the community and members with resources that help homebuyers enjoy sustainable homeownership in our hometown,” added HAR Chair Cathy Treviño. “We are excited to bring affordable homeownership opportunities to light and help more people achieve their dreams of homeownership.”