June is National Home Ownership month, and it’s a great time to talk to your first time buyer prospects about their options. Our partners at Down Payment Resource® (DPR) have a suite of tools to help you generate leads and start conversations today.
Down Payment Assistance (DPA) Expands the Pool of Qualified Buyers.
Big picture, 81% of all home buyer programs nationwide are currently funded and accepting applications. Just under 2% are temporarily suspended due to the impact of COVID-19. Every state and local housing finance agency, along with more than 1,000 city, county, and nonprofit DPA providers, are open for business and working together to serve home buyers.
DPR has analyzed millions of purchase mortgage transactions and thousands of declined loan applications. Their analysis shows that up to 75% of loans declined for a lack of cash to close and/or high Debt to Income (DTI) ratios could have been approved and closed by applying available DPA programs. The result is a 5.85% average reduction in Loan to Value, which substantially lowers a buyer's DTI ratios.
Source: Down Payment Resource®
Learn How to Use Your DPR Solutions!
The DPR team regularly hosts webinars for real estate pros, at no cost to you! Not only do they discuss the latest on down payment assistance programs, they invite industry leaders to discuss current economic and housing market trends. Click on the button below to see which webinars are currently available from DPR.
Facebook Live Recording: All About DPR!
Did you miss our Facebook Live session about DPR? Don't worry, we have a recording for you! Click below to watch. Stellar MLS trainers discuss how DPR marketing resources can work for you and how to access all of it.
DPR Agent Resources Included in Your Stellar Subscription
You have full access to DPR’s marketing resources as part of your Stellar MLS subscription, click on the DPR icon directly from your Stellar MLS Dashboard to claim your free Down Payment Connect landing page and more.
Personalized Down Payment Connect Search Page
Every Stellar MLS customer receives a free, personalized down payment assistance landing page to share within your sphere. Your landing page provides down payment assistance information to buyers in your area and helps to start home ownership conversations. You can add your landing page to your website, share it on your social channels and in your email marketing.
Exclusive leads at no cost
Social media tips
Use DPR’s customizable flyers to highlight down payment programs and promote your Down Payment Connect page. These are great for open houses, community events and referral partners. You can also share your flyers digitally through your social networks.
Spanish language options are also available.
Social Media Images
Social posts with images perform far better than those without. DPR designed these images for your use on Facebook, Twitter, LinkedIn and Instagram. You can share these graphics as posts, or use the ad templates.
Link to your Down Payment Connect landing page using one of DPR’s graphics. It provides a call-to-action for prospective home buyers. These graphics work best on your website, blog posts and email signature.
Watch the video below to learn more about your DPR marketing resources!
Share informative and myth-busting info-graphics about home ownership and DPA programs on your social media channels, blog/website or even in your email marketing. Get your prospects talking about the possibilities of being homeowners!
Share the First Time Homebuyer Cheat Sheet to start conversations in your network! In 2019 the average down payment amount was 6% among first time buyers. This info-graphic has other tips to get potential buyers thinking about their options. And the most important step in the real estate process is highlighted: contact a Realtor®.
Popular Mortgage Options for First Time Buyers
Some buyers may not believe they can qualify for a mortgage, when in fact, they can. We've rounded up an overview of the some of the most popular types of mortgage options used by first time home buyers. Understanding mortgage and down payment options are critical for first time buyers, and as a REALTOR® you can help guide the conversation.
Realtor® Tips For Finding & Buying Your Dream Home
Realtors® of Stellar MLS provide practical tips for first time buyers in this info-graphic. Share your own tips alongside this content in your network and get your potential buyers thinking about what's possible!
Down Payment Assistance Trend Reports
Access DPR’s industry reports, which include the latest news and commentary about low down payments and the impact on the housing market.
If you need assistance with your Stellar MLS subscription, contact our Support Center at 800-686-7451 or email firstname.lastname@example.org.