How Down Payment Assistance Can Transform Black Homeownership
DPR analysis reveals that 89% of HAR listings are eligible for at least one homebuyer assistance program
The Houston Association of REALTORS® (HAR) has implemented Down Payment Resource (DPR) to bring Greater Houston area homebuyers’ attention to homebuyer assistance programs in the wake of declining housing affordability. Data indicates that homebuyer assistance programs can be especially impactful in the Greater Houston area, where 89% of listings are eligible for assistance and HAR reports that only 40% of households could afford to buy a home in Q4 2022.
HAR is the second largest local real estate trade association in the nation, supporting more than 49,000 Houston real estate professionals. Notably, the organization has exceptionally strong engagement with Houston residents, evidenced by its multiple listing site’s (MLS) status as the only local website to rank as a top 20 real estate website in the U.S. According to DPR analysis, 70 homebuyer assistance programs are available across HAR listings, including more than 50 down payment assistance programs, as well as numerous affordable first mortgage programs, mortgage credit certificates (MCCs) and combined assistance programs.
HAR’s MLS integration with DPR enables consumers to search for properties that are eligible for homebuyer assistance, and it prominently flags assistance-eligible listings. The integration also makes it easy for Realtors to learn about homebuyer assistance programs and locate assistance-eligible listings that meet their clients’ needs. Additionally, HAR members have access to DPR’s library of marketing resources, which helps them raise community awareness about homebuyer assistance programs that can make homeownership more affordable.
“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. “Its production of a Housing and Rental Affordability Index is especially commendable because it exposes the financial burden residents face to obtain housing at the county and city levels. 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,” said HAR Chair Cathy Treviño. “We are excited to bring affordable homeownership opportunities to light and help more people achieve their dreams of homeownership.”
Looking to purchase a home? Find down payment programs in your area today and see if you’re eligible!