How Down Payment Assistance Put the Dream of Homeownership in One Woman’s Reach
We are proud to announce that Down Payment Resource was named one of 2017’s most innovative technology companies by HousingWire TECH100™. Down Payment Resource was featured for its ability to automate the process of matching buyers and properties to more than 2,400 available homebuyer programs, and its work across all segments of home sales and finance.
In its fourth annual Tech100™, HousingWire said there was an increase in both the number of companies who applied for the award and the range of innovation. Technology is helping address both challenges and solutions in housing.
“The companies that make up the 2017 HW TECH100™ are the cream of the crop of the entire housing industry, from real estate to mortgage lending, servicing, and investment,” said HousingWire Senior Financial Reporter Ben Lane. “These companies aren’t just taking part in the housing industry’s technological revolution; they’re leading it.”
At a time when affordability and down payments are keeping buyers on the sidelines, Down Payment Resource brings homebuyer programs to the forefront. The company works with more than 1,000 housing agencies to find and update information about local, state and national homebuyer programs. Down Payment Resource’s proprietary rules engine executes against this database and automates the process of matching buyers, properties and homeownership programs by evaluating where and how the programs can be applied.
Down Payment Resource places eligibility criteria and benefits information at the fingertips of real estate professionals and lenders and it’s updated monthly for accuracy and reliability.
Today’s homebuyers are more frequently seeking out information about down payment programs. In 2016, visitors to DownPaymentResource.com increased 122 percent and down payment program searches completed increased 39 percent.
“We are especially honored by this award because the HW TECH100™ list spans the entire housing economy. The real power of Down Payment Resource is the network effect it creates. In addition to connecting homebuyers to programs that help them overcome the biggest hurdle to homeownership, Down Payment Resource connects real estate agents, lenders, education providers, and housing finance agencies with each other,” said Rob Chrane, CEO of Down Payment Resource. “That connection allows them to work in concert to provide a better experience and long-term financial benefits for homebuyers.”
Download the press release.