ATLANTA, Ga., Apr 09, 2024 (SEND2PRESS NEWSWIRE) -- Down Payment Resource (DPR), the housing industry's leading technology for connecting homebuyers with homebuyer assistance programs, today announced that Heartland Multiple Listing Service (MLS) has implemented its tools to notify real estate agents when homebuyers may be eligible for down payment assistance. According to a DPR analysis, 87% of Heartland MLS's listings are eligible for one or more homebuyer assistance programs.
Founded in 1993, Heartland MLS serves more than 12,000 real estate agents in the Greater Kansas City area. The MLS's partnership with DPR flags listings eligible for down payment assistance (DPA) so agents can help make homeownership more accessible in their communities. DPR reports that 27 agencies support 39 homebuyer assistance programs in the Heartland MLS footprint. Assistance amounts range from $3,000 to $37,000 and can be used by homebuyers who earn as much as $143,000 per year toward homes priced up to $766,550, though income and price limits are even higher in certain targeted areas. On average, homes in the Heartland MLS's service region are eligible for roughly $15,000 in assistance.
"Kansas City is seeing a 4% increase in home prices over this time last year, and salaries are just not keeping pace. It's imperative for real estate agents to inform homebuyers about DPA opportunities so more people can qualify for a mortgage and begin building generational wealth through homeownership," said Rob Chrane, founder and CEO of DPR. "We are proud to share our comprehensive database of homebuyer assistance programs - including down payment assistance, grants, affordable first mortgages and more - to help Heartland MLS subscribers better serve their communities, and especially low-to-moderate income (LMI) and minority buyers, with the financial resources that help make homeownership achievable."
"Our MLS subscribers have been long-term champions of the Kansas City community and dedicated to helping homebuyers gain access to safe and sustainable homeownership," said Rob Wagoner, senior vice president, MLS director at Kansas City Regional Association of REALTORS(r) and Heartland MLS. "Our partnership with DPR will help our subscribers better serve homebuyers by shedding light on homebuyer assistance available in our region. Heartland MLS looks forward to further supporting homeownership in our region with DPR's support and user-friendly digital tools."
For more than seven years, Kansas City Regional Association of REALTORS(r), which owns Heartland MLS, has given agent members access to a widget that empowers consumers to search for their homebuyer assistance eligibility.
About Heartland MLS:
Since its inception in 1993, Heartland MLS has been the trusted source for the most complete and accurate real estate information across the Kansas City region. Heartland MLS currently provides services to more than 12,000 subscribers and participants across 39 counties in Kansas and Missouri. Heartland MLS provides real estate professionals with reliable, cost-effective access to a suite of state-of-the-art MLS technology services and products to serve their business needs in today's fast-paced industry. Heartland MLS helped facilitate over 37,000 real estate transactions valued at nearly $12.6 billion in 2023. Heartland MLS is owned and operated by the Kansas City Regional Association of REALTORS(r). For more information, visit the Heartland MLS website.
About Down Payment Resource:
Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders and MLSs, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.
News Source: Down Payment Resource
Related link: https://www.downpaymentresource.com/
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