Homebuyers in the greater Chicago market browsing broker and agent websites will soon be able to see when a listing is eligible for a down payment assistance program, and determine if they might qualify.
Midwest Real Estate Data LLC is the fourth multiple listing service (MLS) in the nation to offer Atlanta-based Workforce Resource’s Down Payment Resource tool, which integrates information about hundreds of down payment assistance programs with MLS listing data.
Once integration is complete, listings that the Lisle, Ill.-based MLS’ 40,000 customers display on their websites or send to clients via email will feature special icons if they are eligible for a down payment assistance program.
Clicking on the icon will provide details about available programs, and an eight-question survey that will help would-be homebuyers determines if they meet the qualifications for each.
More than 74 percent of homes listed in MRED’s coverage area may be eligible for one or more of the 629 down payment assistance programs Workforce Resources is tracking in the Chicago market, the companies said in announcing their partnership.
"Once we have completed the ‘shakedown cruise’ of (Down Payment Resource) we will then be ready to allow all agents and brokers to load the tool on their websites," said MRED CEO Russ Bergeron in a statement.