As a real estate agent, you're probably always on the lookout for ways to better serve your clients. Did you know that there's a tool that can remove your clients' and potential clients' biggest obstacle to homeownership?

It's called Down Payment Resource (DPR), and it's available as a free member benefit to an increasing number of agents whose MLS subscribes to the service. DPR integrates with your MLS to provide you with information about down payment assistance programs in your area. It's the first step to removing the down payment hurdle for qualifying consumers.

The Basics

Down Payment Resource takes active residential listings and processes them against their database of all the programs--state, county, city, neighborhood, non-profit--that exist in a market. It then matches the properties that are eligible, based on location and list price, to all of the programs for which it would qualify.

Currently, there are over 1,500 actively funded programs tracked in Down Payment Resource. A full 60-80% of listings in any market qualify for assistance. Down Payment Resource will flag these eligible homes in the MLS. Agents simply need to click the DPR icon next to these listings to get a list of programs for which a property is eligible. All property eligibility processing and flagging is updated by DPR nightly, and each specific program is updated monthly, so the information users see is current and accurate.

Clicking "Next Steps" on the search results page will display the details of a particular program, including participating lenders, education providers (many programs require a consumer education course), a program flyer and contact information for questions. The details page also links directly to the program administrator or funder so action can be taken by the buyer or their agent. Agents can even email clients about eligible properties right from the Down Payment Resource interface.