MLS & Associations

Got first-time buyers? More and more MLSs offer down payment assistance tool

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More than 335,000 real estate professionals in 20 multiple listing services and associations now have access to a tool that allows them to see which homes may qualify for down payment assistance programs. The latest MLSs to license Down Payment Resource are Central Virginia Regional MLS with more than 5,000 members and Realcomp II Ltd., Michigan's largest Realtor-owned MLS with nearly 12,000 members. About 88 percent of CVR MLS's residential listings and about 71 percent of Realcomp's residential listings may be eligible for one or more down payment assistance programs, according to Atlanta-based Workforce Resource, which developed the tool. Listings eligible for down payment assistance, grants, affordable first mortgages, tax credits, and other help are flagged with a Down Payment Resource icon in the MLS system. Once the tool is fully implemented for CVR MLS agents and brokers, they'll be able to search, share and suggest eligible properties and programs to their client...