Giving Back Archives - Homebuyers | Down Payment Resource https://downpaymentresource.com/homebuyer-topic/giving-back/ Get the help you need to buy your new home Wed, 20 Dec 2023 20:02:20 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.2 Down Payment Resource Donates $10,000 to Help an Atlantan Buy a Home this Holiday Season https://downpaymentresource.com/homebuyer-resource/down-payment-resource-donates-10000-to-help-an-atlantan-buy-a-home-this-holiday-season/ Wed, 20 Dec 2023 20:02:20 +0000 https://downpaymentresource.com/?p=10326 The post Down Payment Resource Donates $10,000 to Help an Atlantan Buy a Home this Holiday Season appeared first on Down Payment Resource.

]]>
    FacebookTwitterLinkedInEmail

By partnering with the Atlanta Neighborhood Development Partnership, DPR is making the holidays a little merrier for one local homebuyer working with the agency

ATLANTA, Ga., Dec. 18, 2023 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting home buyers with homebuyer assistance programs, today announced a $10,000 donation to the Atlanta Neighborhood Development Partnership to be used as a grant to help an eligible homebuyer working with the local nonprofit housing agency.

“Atlanta is ranked first in home price appreciation (68.6%) and fourth in rent increases (30%) according to data reported by the Atlanta Regional Commission data, factors that make it even harder for first-time homebuyers to get their foot in the door,” said DPR Founder and CEO Rob Chrane. “We are proud to partner with ANDP to help a local homebuyer have a homeownership stake in their community. We want to do all we can to tip the scales in favor of homeownership, particularly among traditionally underserved buyers.”

ANDP develops, finances, and advocates for affordable housing that promotes racial equity and healthy communities where families thrive. The grant funded by DPR is intended for a buyer whose income is at or below 80 percent of the area median income (AMI) and not receiving additional financial assistance from ANDP. The funds can be used for down payment or closing costs (including a rate buydown) on the purchase of an ANDP property. 

“We are pleased to receive donations year-round, but there’s something special about gifts received during the holidays that just makes this gift very special. We appreciate the ongoing support of DPR, especially in these times when buying a home may seem out of reach for many,” said John O’Callaghan, president and CEO of ANDP. “Gifts like these restore hope for our clients and help them take that all-important step toward building generational wealth through homeownership.”

About ANDP:

ANDP was created in 1991 as a result of the merger of the Metropolitan Atlanta Chamber of Commerce’s Housing Resource Center and the Atlanta Economic Development Corporation’s Neighborhood Development Department. The impetus for ANDP’s creation was to address the diminishing supply of affordable housing in the Metropolitan Atlanta region as well as to help reclaim declining neighborhoods in its core. Throughout its history, ANDP has supported the creation of more than 11,000 units of housing for people of low-to-moderate incomes. For more information, visit the ANDP Homes 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 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 by volume, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Looking to purchase a home?  Find down payment programs in your area today and see if you’re eligible!

The post Down Payment Resource Donates $10,000 to Help an Atlantan Buy a Home this Holiday Season appeared first on Down Payment Resource.

]]> Giving Season: Down Payment Resource Donates $10k to a Fund Supporting Minority First-time Homebuyers on Behalf of Customers https://downpaymentresource.com/homebuyer-resource/giving-season-down-payment-resource-donates-10k-to-a-fund-supporting-minority-first-time-homebuyers/ Wed, 14 Dec 2022 18:46:14 +0000 https://downpaymentresource.com/?p=9657 The post Giving Season: Down Payment Resource Donates $10k to a Fund Supporting Minority First-time Homebuyers on Behalf of Customers appeared first on Down Payment Resource.

]]>
    FacebookTwitterLinkedInEmail

It is the most wonderful time of the year! Unfortunately, not every family can afford to gather in a home of their own this holiday season. That is why instead of mailing out gift baskets, each December Down Payment Resource contributes to a housing-related non-profit on behalf of our valued customers and business partners. 

This giving season, Down Payment Resource will help a family in Memphis attain their homeownership dreams by donating $10,000 to the Homeownership Council of America’s (HCA’s) Equity Down Payment Assistance (DPA) program. The HCA Equity DPA program provides down payment and closing cost assistance for low-to-moderate income (LMI) and racial and ethnic minority first-time homebuyers — a mission that aligns with our company’s founding goal of expanding affordable homeownership program awareness, understanding and participation.

Improving Homeownership Equity with DPA

Designed to help first-time homebuyers overcome the nation’s largest barrier to homeownership, Equity DPA uplifts historically underserved communities by providing them with the down payment funds to qualify for a conventional mortgage. The zero-interest Equity DPA loan features no fees and encourages homeownership stability by offering its participants full forgiveness after five years. With DPA funding from a wide range of generous corporate and private donors, the Equity DPA program is able to provide a projected average of $10,000 of direct financial assistance per eligible homebuyer. 

In doing so, the HCA and its partners are helping make the dream of homeownership a reality for consumers who could qualify for a mortgage but lack the funds to cover a down payment and closing costs. Donors can even direct their contributions to DPA for specific communities, areas and HCA partners. Down Payment Resource opted to designate this year’s donation to the fund targeting racial and ethnic minority homebuyers in Memphis, where Equity DPA will provide DPA in partnership with the Mortgage Bankers Association’s (MBA’s) CONVERGENCE Memphis initiative. 

Down Payment Resource is a strong supporter and active participant in both the Memphis and Columbus CONVERGENCE initiatives, which ​​promote the expansion of sustainable, affordable housing in historically underserved communities. Key members of our team serve on the Steering Committees and workstreams for both the Memphis and Columbus initiatives, and we regularly volunteer our software and services to help connect CONVERGENCE communities with DPA programs.

Down payment and closing cost support is a key resource for LMI and minority first-time homebuyers — especially in the sharp downturn we are currently facing in the housing finance industry. By providing the funds to help even just one qualified homebuyer afford the upfront costs of homeownership, Equity DPA donors make a lasting impact on families who were previously unable to access the wealth-building benefits of homeownership.

Visit the HCA website to learn all about Equity DPA.

The post Giving Season: Down Payment Resource Donates $10k to a Fund Supporting Minority First-time Homebuyers on Behalf of Customers appeared first on Down Payment Resource.

]]>