June is National Homeownership Month, which celebrates the benefits — emotional and financial — that owning a home can bring to families, communities, and neighborhoods. To raise awareness about affordable homeownership opportunities, this month we are spotlighting how Down Payment Resource and eHome America have been working together for 10 years to help turn more homeownership dreams into reality.

Down Payment Resource (DPR) was launched by Rob Chrane in 2008 to help the housing industry connect homebuyers with the down payment assistance (DPA) they need. Since then, DPR has amassed and maintains a current accounting of all U.S. homebuyer assistance programs (that’s 2,300+ programs from 1,200 providers at the time of writing). DPR’s eligibility finder is free to the public and through industry partners like eHome America.

eHome America, also launched in 2008, provides high-quality, online homebuyer education in English and Spanish to arm first-time homebuyers with the knowledge necessary to prepare them for long-term success. Since its inception, eHome America has helped more than 750,000 families across all 50 states and U.S. territories complete the homebuyer education required for securing financing and receiving down payment and closing cost assistance.

To help spread the word on DPA and homeowner education and how the two used together can open the doors to affordable homeownership, we sat down with Milt Sharp, Jr., president of eHome America, to discuss the barriers and opportunities faced by today’s homebuyers and how to get help. Here are his thoughts: 

DPR: Can you start by explaining why homeownership courses are important for today’s homebuyers and often required by their lender or counseling agency?

Milt Sharp: It’s challenging to buy a home, especially for low-income and minority buyers who may struggle to save for a down payment and have limited credit histories. We’ve seen how homeownership counseling can help prepare these buyers for long-term success as homeowners and how DPA can help them qualify by lowering the loan amount for a more favorable debt-to-income ratio or providing enough cash for closing costs. 

DPR: Who takes the eHome America course, and how does it benefit them?

Milt Sharp: Most of our clients are already working with a lender and may be using an affordable mortgage product like HomeReady, which allows for 3% down but requires completion of an approved homeownership program.

Our eHome America’s signature homebuyer course is a six- to eight-hour course buyers can take entirely online. It’s interactive and can be broken into multiple sessions to accommodate a busy schedule. This course has helped about 84,000 people and is followed by convenient, online 1:1 counseling. 

The course includes information on down payment assistance and provides a widget that allows clients to search DPR’s extensive program database to find assistance programs for which they may qualify.

Program data is maintained by DPR and made accessible to our counselors and partners, including HUD-approved housing counseling agencies, lenders, and state and local housing authorities. Since we initiated this agreement in 2014, the DPA eligibility form has been used 538,000 times and 21,000 clients have clicked through to learn more about specific DPA programs.

In addition to our signature homebuyer course, eHome America offers four other online courses on buying a manufactured house, money management, post-purchase, and foreclosure prevention. These resources help people get into homes and set themselves up for long-term financial success. 

DPR: How is eHome America structured? 

Milt Sharp: We work with more than 650 nonprofit organizations throughout the U.S. to reach potential homebuyers, help them learn about the homebuying process, and make sure they’re financially ready. Partners refer their clients to us so they don’t have to ‘recreate the wheel’ in developing their own multi-media homeownership content. Customer feedback on our content is very positive and we have a very high completion rate. This is due in part to the accessibility of the course but also that these buyers are highly motivated to become homeowners.

DPR: Why was it important to include down payment assistance in your course?

Milt Sharp: Providing information and access to DPR’s database is essential to our mission to help every homebuyer. Many of our clients are unaware of DPA or have misconceptions about how it works. Many years ago, when we started working with Rob [Chrane], we knew we needed to get this information in front of our counselors and customers since having a down payment is one of the biggest hurdles homebuyers must overcome. 

DPR: Is this a good time to buy a home?

MS: When you have enough money and the time is right for you personally, it’s always a good time to buy. Interest rates will always go up and down. So, if you buy and they drop, you can always refinance. A smart home shopper will talk with several lenders and seek out housing counseling from a nonprofit, many of these organizations purchase properties to renovate and sell as affordable housing. They’ll also be aware of and inquire about DPA. 

While this is National Homeownership Month, and we are hoping to shine a particularly bright light on resources that can help buyers achieve their dreams sooner rather than later, people buy homes throughout the year, making an investment in their own futures. 

We believe homeownership is possible, and we’re glad to be working with partners like DPR to help more people achieve sustainable homeownership. 

For more about eHome America, visit https://www.ehomeamerica.org/.

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Down Payment Resource builds tools that help mortgage lenders, real estate agents, multiple listing services and consumer listing sites build relationships with homebuyers by connecting them with the homebuyer assistance they need.

To learn how Down Payment Resource can help you support homebuyers, contact us.

Chrane was recognized in the Crusader category for his relentless commitment to championing down payment assistance programs 

ATLANTA, Ga., Feb. 6, 2024 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting home buyers with homebuyer assistance programs, today announced that its Founder and CEO Rob Chrane has been named a RISMedia 2024 Real Estate Newsmaker. Newsmakers are recognized for their contributions to the real estate industry and their efforts to positively impact the consumers and communities they serve.

Chrane was honored in the Crusader category for his relentless commitment to “championing a better way.” By developing technology that helps housing professionals connect homebuyers with homebuyer assistance programs, he has profoundly impacted the lives of countless individuals and families striving to achieve homeownership.

Chrane is a 30-year veteran of the housing industry. In 2008, he founded DPR to help people clear the largest hurdle to their homeownership dreams: down payment and closing costs. With his team, Chrane has built the only comprehensive database of homebuyer assistance programs in the nation. To date, DPR has connected more than 6 million unique users with homebuyer assistance program information.

“Sustainable homeownership feels out of reach for many, especially those in underserved communities,” said Chrane. “Connecting potential homebuyers with lenders and programs that can help them build wealth and stability is one of the most fulfilling goals I have chased, and I look forward to continuing to support equitable homeownership across the country.”

“From the creativity and innovation being implemented through the shifting and challenging 2023 market, to industry records being broken, to the wonderful charitable work being done across the nation, we continue to be amazed by the ingenuity and success of these real estate professionals,” said John Featherston, founder, CEO and publisher of RISMedia.

To learn more about RIS Media’s 2024 Newsmakers, visit https://www.rismedia.com/newsmaker/rob-chrane-2024/ 

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/.

The annual awards program recognizes an individual or organization for accomplishments and leadership in affordable housing finance

ATLANTA, Ga., Feb. 5, 2024 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting home buyers with homebuyer assistance programs, today announced that it selected Sylvia Alvarez, founder and executive director of Housing and Education Alliance (HEA), as the winner of its 2023 Beverly Faull Affordable Housing Leadership Award. 

Now in its sixth year, the Beverly Faull Affordable Housing Leadership Award recognizes an individual or organization that has exhibited a steadfast commitment to expanding access to affordable homeownership. DPR created the award program in memory of one of its first employees, Beverly Faull, for her wholehearted dedication to the company’s mission to improve access to homebuyer assistance programs. 

Long-time housing advocate and HUD-certified Housing Counselor Alvarez founded HEA in 2002 to serve residents of Tampa Bay, Fla. HEA has delivered more than $126 million in down payment assistance to low- and moderate-income (LMI) families in support of 12,000+ home purchases. The non-profit has received many awards including the coveted “NonProfit of the Year” through PBS’s national program the Be More Awards. 

Alvarez is a highly respected housing advocate and has worked with the U.S. Treasury, HUD, the Department of Agriculture and has been invited to the White House six times to consult on housing issues. She is the co-author of The American Nightmare: Strategies for Preventing, Surviving and Overcoming Foreclosure, which chronicles both the judicial and non-judicial processes, phases, options and consequences of foreclosure and how homeowners can rebuild their credit to purchase a home again. Alvarez has become an advocate and voice for homeless families and is frequently interviewed in local and national media on housing issues. 

”We have been a proud partner and admirer of HEA for many years and look toward a brighter future in working together to help even more Tampa families become homeowners,” said DPR CEO Rob Chrane. “I see a lot of Beverly [Faull] in Sylvia’s determination and leadership style. We are thrilled to recognize her in Beverley’s memory.” 

“I am honored DPR has recognized our efforts to help more than 55,000 Tampa Bay residents secure affordable housing. Our team has been passionate about this issue for more than two decades and continues to help LMI renters in Tampa make the move to homeownership to start to create generational wealth,” Alvarez said. “We will continue to work hard to help every deserving applicant have a place to call home.”

In recognition of Alvarez’s achievements, DPR will make a $5,000 donation to HEA.

To learn more about HEA, visit https://www.heausa.org/.

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/.