A new program will help potential home buyers learn about specific homeownership programs available to them.
Intermountain Multiple Listing Service has partnered with Down Payment Resource, an Atlanta-based search engine and software company, to combine MLS property data with information about programs that might help buyers save on down payment and closing costs. Down Payment Resource provides information about potential grants, down payment assistance, tax credits and other programs for eligible buyers.
About 87 percent of Intermountain MLS residential listings may be eligible for one or more down payment assistance programs. Those listings are flagged with an icon.
“The first place consumers search for homes is online, and this provides both serious homebuyers and those who may be on the fence with more information or resources on the front end,” Intermountain MLS CEO Greg Manship said.
Ada County Association of Realtors Executive Director Mark Lebowitz said tools like the new MLS program are helpful to consumers.
“Real estate transactions are already complicated enough and any information that helps [buyers] navigate through the process is always important,” Lebowitz said.
Down Payment Resource President Rob Chrane said the service is available in 19 markets and is paid for by the MLS in each city or region. While the service tracks online clicks, it doesn’t have access to buyer information or other personal data provided by the buyer.
“The site is designed to help raise awareness about buyer programs out there and help them determine what they might do next,” Chrane said.