The Beverly Faull award program recognizes individuals or organizations for accomplishments and leadership in the affordable housing finance space

ATLANTA, Ga., Feb. 26, 2025 —Down Payment Resource (DPR), the housing industry’s leading technology for connecting homebuyers with homebuyer assistance programs, announced today that it has honored Mosi Gatling of New American Funding (NAF) with the 2024 Beverly Faull Affordable Housing Leadership Award, and Skyler Lemons of Exit Strategy Realty with hits inaugural Emerging Leader Award. Both recipients were recognized for their commitment to advancing homeownership opportunities by leveraging homebuyer assistance programs.

Mosi Gatling: Beverly Faull Award Recipient

Now in its eighth 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. DPR will donate $5,000 to the housing non-profit of Gatling’s choice. 

Currently SVP of Strategic Growth and Expansion at NAF, Gatling has worked for more than 20 years to expand homeownership opportunities, particularly among people of color and first-time homebuyers. Notably, she has been instrumental in launching NAF’s Black Impact initiative to enhance homeownership accessibility in Black communities, which includes a $20 billion organizational commitment to provide new mortgages to Black homebuyers by 2028. She is also one of the top FHA loan originators in the country. Her work as a mortgage banker, along with her public advocacy at national housing forums, highlight her dedication to making homeownership more equitable. 

Skyler Lemons: Emerging Leader Award Recipient

The newly announced Emerging Leader Award recognizes early career individuals who are passionate about helping homebuyers secure safe and affordable housing with the help of homebuyer assistance programs. Skyler Lemons, a real estate agent at EXIT Strategy Realty, is the award’s inaugural recipient. Down Payment Resource will donate $2,500 to the housing non-profit of Lemons’ choice. 

Lemons followed in his mother’s footsteps (agent Marki Lemons-Ryhal), in realizing the importance of helping South Side Chicago residents secure affordable housing. As a youth, he volunteered on affordable housing projects. He became a licensed real estate broker after graduating from Howard University College of Business. Just four years into his career, he’s the top agent in units sold at the largest EXIT Strategy Realty franchise. Having negotiated over $150,000 in down payment assistance and closing costs in 2024 alone, he is called the “Down Payment Grant King” by colleagues. In 2025, Lemons is launching the Center for Empowering Moves, an initiative to strengthen affordable housing pathways for Black Americans.  

“We receive incredible nominations for this award each year, but this year’s recipients stood out in an undeniable way,” said DPR’s Founder and CEO Rob Chrane. “Mosi has dedicated decades to expanding homeownership opportunities and breaking down barriers for first-time and minority homebuyers. Skyler, in just a few short years, has made a profound impact in his community, leveraging down payment assistance to help families achieve homeownership. Their passion and commitment to housing affordability are inspiring, and we are honored to recognize their work in Beverly’s memory.”

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 2,400 programs and toolsets for mortgage lenders, multiple listing services (MLSs) 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 seven of the top 25 mortgage lenders, the three largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Black History Month, observed each February, gives our industry and nation the opportunity to reflect on the historical challenges faced by Black homebuyers on the path to homeownership. While progress has been made, the homeownership gap remains: Black households have a 45.7% homeownership rate, compared to 74.3% for white households, even 56 years after the passage of the Fair Housing Act.

Debt-to-Income Ratio: A Major Barrier to Homeownership

Homebuyers faced an uphill battle in 2023, with interest rates hovering in the 7% range and the average price of an existing home at $410,000. 

In terms of Black buyers, female-headed households (applying without a co-borrower) made up the majority, and millennials were the largest application age group. Denial rates were high for Black applicants, 17% as compared to the rate for White applicants at 7%. The leading cause for denial for both groups was their debt-to-income ratio (DTI). Among Black applicants, 42% of denials were attributed to high DTI, an increase from 39% in 2022. 

This is where down payment assistance (DPA) can make a difference. In many cases, DPA can improve the borrower’s DTI ratio by reducing the amount of the mortgage principal, making it easier for them to qualify for a mortgage and increasing pull-through for lenders. 

Qualifying More Minority Buyers

Down Payment Resource maintains a database of more than 2,400 DPA programs nationwide and has identified several that provide special incentives for Black and other minority homebuyers. These programs provide them with tens of thousands in assistance that can be used to lower the home’s purchase price, pay closing costs, or for other purposes. Many of these are Special Purpose Credit Programs (SPCPs), which allow lenders to establish programs that address special social needs and increase access to the credit markets based on a written plan. 

The programs described here are just a sampling of what can be found on DPR’s website. We invite lenders, real estate agents and other parties interested in boosting Black homeownership to visit our website for more.

• The Dearfield Fund for Black Wealth Down Payment Assistance Program – Provides up to $40,000 in DPA to first-time Black homebuyers in Denver. When homeowners sell or refinance they repay the down payment amount plus 5% of their home’s appreciation. (More information)
• Homeownership Council of America Equity DPA Program – Equity DPA hosts targeted funds nationwide for LMI, BIPOC, and other targeted geographies, along with the Building Diverse Communities New-Home fund recently launched with donor partners. (More information)
• Twin Cities Habitat for Humanity Advancing Black Homeownership Program – Provides up to $50,000 in the form of a 5-year forgivable loan used to purchase a home in the Twin Cities metro. Forgiveness begins at 20% each year until fully forgiven or a repayment trigger occurs. Requires homebuyer education. (More information)
• State of New York Mortgage Agency Credit is Due – eDPAL – Credit is Due is an initiative to address racial disparities and increase access to financing for minority households. Its Enhanced Down Payment Assistance Loan (eDPAL) can be used to pay down payment and closing costs until purchase money mortgage amount is 80% LTV, up to $30,000. eDPAL also can be used to pay single premium mortgage insurance (MI) for transactions over 80% LTV. (More information)
• Washington State Housing Finance Commission – Covenant Homeownership Program DPA – Provides downpayment and closing cost assistance for first-time Black Hispanic, Native American and other minority homebuyers in the form of a zero percent loan, secondary to the primary mortgage loan. The loan is repaid when the home is sold or refinanced. The maximum DPA amount is 20% of the cost of the home or $150,000, plus closing costs if paid by the buyer. (More information)

Building a More Equitable Housing Market

Down payment assistance programs provide vital support in closing the homeownership gap for Black Americans. As the data shows, DPA plays a crucial role in reducing mortgage denials and creating homeownership opportunities for underserved communities.

If you’re a lender, real estate agent, or homebuyer looking to learn more about DPA programs, visit Down Payment Resource to explore options that can help Black homebuyers achieve homeownership.

The RISMedia Newsmaker award celebrates individuals who are making a difference through their commitment and contributions to the real estate industry

ATLANTA, Ga., Feb. 4, 2025 — Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, today announced that its Founder and CEO Rob Chrane has been named a RISMedia 2025 Real Estate Newsmaker. RISMedia Newsmakers are individuals whose efforts are positively impacting the consumers and communities they serve. This is the second year in a row Chrane has been named to the Newsmakers list.

Chrane was honored in the Trailblazers category for leading the real estate business forward with innovative new technologies and programs designed to better serve agents and their consumers. By developing technology that helps real estate and mortgage professionals connect homebuyers with down payment assistance (DPA) programs, he has positively impacted the lives of countless individuals and families.

Chrane founded DPR in 2008 to help homebuyers clear the largest hurdle to owning a home: saving for the down payment and closing costs. DPR has built the nation’s only comprehensive database of more than 2,400 homebuyer assistance programs and technology that enables real estate professionals to search for eligible assistance for homebuyers. DPR is licensed to Multiple Listing Services, Realtor Associations, mortgage lenders and housing counselors across the country.

“Between high mortgage rates and rising home prices, many homeowners are feeling squeezed out of the market, especially when it comes to finding an affordable home,” said Chrane. “Our technology connects these potential homebuyers with lenders and programs so they can get their foot in the door and start to build wealth through homeownership. It’s very fulfilling to hear success stories of the many buyers able to use down payment assistance to achieve their American Dream.”

“This year’s Newsmakers shine a spotlight on the innumerable ways this industry bravely confronted the sea of change brought about by the historic commission lawsuits, and went to work helping their companies, agents and homebuyers and sellers understand and adapt to the fundamental shift in the way real estate business is conducted,” John Featherston, founder, CEO and publisher of RISMedia. “Our 2025 Real Estate Newsmakers demonstrate the grit, tenacity and resilience that dedicated real estate professionals have long been known for.”

To learn more about RIS Media’s 2025 Newsmakers, visit https://www.rismedia.com/2025-newsmakers/.

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 2,400 programs and toolsets for mortgage lenders, multiple listing services (MLSs) 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 seven of the top 25 mortgage lenders, the three largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

The HW Tech100 list puts a spotlight on the most innovative and impactful technology organizations serving the mortgage industry

ATLANTA, Ga., Feb. 4, 2025 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting homebuyers with homebuyer assistance programs, has been named to HousingWire’s 2025 Mortgage Tech100 list, which recognizes “the companies and solutions that are revolutionizing the mortgage process — from origination to closing, and servicing to secondary markets.” 

DPR first appeared on the HW Tech100 list in 2017. Since then, the company has expanded its lender tools to help operationalize down payment assistance (DPA) programs from lead generation to post-close.

DPR’s lender suite includes DPA Directory, a searchable database that allows product managers to identify and select DPA programs that align with market needs. Its Loan Officer Portal automatically matches borrowers with company-approved DPA programs, while the Underwriter Portal gives underwriters access to program guidelines, overlays and company approvals. Finally, the company’s Consumer Portal creates personalized landing pages where prospective homebuyers can explore their DPA eligibility, turning inquiries into qualified leads while educating customers about their options.

Additionally, DPR integrates with the Encompass LOS from ICE Mortgage Technology, enabling lending teams to access DPA program details directly within the loan production system. Together, these solutions empower lending teams to maximize DPA utilization, drive customer engagement and expand homeownership opportunities.

“At DPR, we are committed to helping lenders, real estate agents and other housing professionals grow their businesses while supporting their communities with sustainable home financing opportunities,” said DPR Founder and CEO Rob Chrane. “We appreciate the recognition from HousingWire’s editors and the opportunity to spread the word about how DPA can help mortgage lenders do well by doing good.”

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 2,400 programs and toolsets for mortgage lenders, multiple listing services (MLSs) 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 seven of the top 25 mortgage lenders, the three largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

From where we sit, 2024 was a banner year for down payment assistance (DPA). It’s when DPA became “cool” for homeowners to ask about and lenders to offer, with more programs from more agencies helping more individuals and families become homeowners. 

Down Payment Resource has been in the thick of this evolution, pushing the envelope with product innovations and strategic partnerships. We’re not just tooting our own horn. The National Council of State Housing Agencies notes that from 2021 to 2023 housing finance agencies increased their total volume of DPA by 43% (to $1.5 billion) and their average amount of assistance by 48% (to $12,000). Add to that, the recent FHA Annual Report to Congress notes 16.9% of FHA purchases in FY 2024 used DPA, up from 15% last year. 

A Banner Year for Accolades

2024 kicked off with Founder and CEO Rob Chrane named a 2024 Real Estate Newsmaker; Executive Vice President of Product and Operations Sean Moss named an Industry Titan; and Vice President, Housing Finance Agency (HFA) Relations, Veronica Khandelwal, named a 2024 Women of Inspiration.

We made news in other ways, too. Our Q3 2024 Homeownership Program Index (HPI) report found the number of national homebuyer assistance programs increased by 29 to 2,444 — now officially the largest collection ever, anywhere. 

Also, we awarded Sylvia Alvarez, founder and executive director of Housing and Education Alliance (HEA), with our Beverly Faull Affordable Housing Leadership Award, created in memory of one of our first employees.

Social Climbing

Down Payment Resource has always given back, and 2024 was no different. 

In January, Chrane spoke at the National Council of State Housing Agencies (NCSHA) on a panel moderated by Wendi Redfern, senior vice president, single-family programs at the District of Columbia Housing Finance Agency. In his remarks, Chrane discussed a study conducted in partnership with the Urban Institute that found that almost half (43.6%) of originated purchase mortgages were eligible for DPA but did not use it.

In January, we also sent our team to New Orleans for MBA’s IMB Conference to network with clients and prospects. In February, team members traveled to Houston for TMBA’s Southern Secondary conference where DPA was a frequent topic of discussion.

The mid-March ICE Experience 2024 was perfectly timed for DPR to debut its new integration with Encompass by ICE Mortgage Technology, the most used mortgage loan origination system (LOS). We all traveled to Las Vegas to take part in this annual user conference and our booth was buzzing with lenders eager for a peek. The integration allows users of the Encompass LOS to view available DPA programs for specific borrowers based on their location, occupation, income and other factors. As additional information is entered into Encompass about the borrower, the DPA information dynamically refreshes. 

In another first, we joined The Mortgage Collaborative (TMC), the nation’s largest independent cooperative network serving the mortgage industry, as a preferred partner and attended TMC’s The Mane Event in Denver. 

New Faces

Growth in program numbers and customers throughout the year meant expanding our executive team. 

We hired 20-year mortgage industry veteran Brad Cardwell as our vice president of sales and business development to lead enterprise sales, growing both its sales team and partner network, with the goal of making more housing professionals and consumers aware of the availability and benefits of DPA for a range of homebuying expenses and property types. 

You may know Brad from his 19-year tenure at Embrace Home Loans, where he most recently was vice president of innovation for revenue and sales enablement. He also previously served on the executive advisory board of nCino (formerly SimpleNexus, an nCino Company), providing feedback for the product and roadmap.

And Celebrations

Down Payment Resource doesn’t just collect programs like a museum curator. We update program information every month. This attention to detail means the 2,400+ programs in our database are accurate.

We also sift through program data to bring attention to specific causes. In recognition of Disability Pride Month we highlighted 18 U.S. DPA programs specifically designed to support people with disabilities and their family caregivers on their journey toward homeownership. In October, we highlighted 48 U.S. homebuyer assistance programs designed to support Native Americans. In November, we highlighted 49 programs to support Veterans, service members and their surviving spouses. 

Join Us for a Prosperous New Year

While we’ve come a long way in making homebuyers and real estate professionals more aware of DPA, there’s still work ahead. As we previously noted, 16.9% of FHA purchases in FY 2024 used DPA, but HUD data shows us that 79.8% of FHA loan applicants likely could have qualified with DPA. That gap between the number of eligible loans (79.8%) and those that used DPA (16.9%) is about 63%, and represents a significant portion of LMI and minority applicants who may have qualified for an FHA loan with additional funds. (On average, DPA lowers a homebuyer’s LTV by 6%.)

In 2025, we hope to work with our partners to narrow that gap, not only for FHA loans but across the board. We think every borrower has the right to know about DPA that could be used to boost their down payment, pay closing costs or pay down points. 

We think that’s all pretty cool.

If you need more information about how to operationalize DPA in your business, contact us for a demonstration.

As interest rates cool along with the weather, we’re anticipating more “fence sitters” will get serious about buying a home in the coming weeks and months. 

Most will start online, and if they’re at major shopping websites, like Zillow, Redfin or Realtor.com, they’re going to come across the availability of down payment assistance or DPA, thanks to a partnership those sites have with us. Down Payment Resource (DPR) has been amassing data on DPA programs since 2008, and we keep every single one of them updated monthly so you can trust the data we provide.

There are now more than 2,400 programs nationwide, with at least one in every U.S. county. Some are funded by state and local housing agencies, while others are funded by nonprofits. Some have no income restrictions. The amounts offered by these programs range from about $2,500 up through $65,000 (or more!). Funds often can be used beyond a down payment, such as to buy down interest rate points or help with closing costs. There’s also flexibility in property types to support the purchase of manufactured housing or multi-family properties. 

Using DPA is a hot subject in the media and with homebuyers these days, and DPR puts these programs at the buyer’s fingertips at its website and through commercial sites like Zillow. 

Having the information buyers need to understand the mortgage process and search for DPA makes a lot of sense. “Data shows that for a lot of consumers, and especially first time homebuyers, they may be online, browsing homes, 6, 12, or even 18 months before they think they can buy,” says Rob Chrane, founder and CEO of DPR. The earlier lenders and agents can get to homebuyers and have conversations with them about DPA the better, he adds. 

To provide more information to our readers who may need a little help preparing their finances, Chrane recently spoke with Brian Vieaux, president and COO at FinLocker, an online financial wellness site. The two discussed the importance of helping first-time homebuyers understand how DPA works and how DPA may help them buy months or years faster so they can start building generational wealth sooner. “DPA is part of just about every conversation that I’m hearing as it relates to homebuying, especially for first time buyers,” says Vieaux. DPA has become the “hook” to homeownership in a very positive way, he adds.

For more, see Finlocker’s complete “Fintech Friday” episode with Vieaux and Chrane here.

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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.

It’s true: Down Payment Resource (DPR) is growing again to support the overwhelming demand for homebuyer assistance programs — now topping 2,400 — and the increasing popularity of our software tools for lenders, agents and listing sites. 

Our new team members join our hard working crew in playing a vital role in spreading the word about DPA, expanding our sales force and footprint and providing support to our ever-growing customer base. Thanks to their expertise, DPR is better equipped to champion innovative tools, partner with industry leaders like ICE Mortgage Technology to integrate with its Encompass® LOS platform, and develop strategies and programs that are making homeownership more affordable and accessible for all.

So, without further ado, here are the newest members of our DPR family:

Brad Cardwell – Vice President of Sales and Business Development

You’re sure to see Brad out and about representing DPR this fall at trade events and client meetings. As vice president of sales and business development (a new position for DPR!), the 20-year mortgage industry veteran leads enterprise sales efforts and expansion of our partner network with the goal of making more housing professionals and consumers aware of the availability and benefits of DPA for a range of homebuying expenses and property types. (Did you know more than 850 DPA programs can be used to purchase a manufactured home?)

Brad’s mortgage career started at Embrace Home Loans where he worked as a loan officer and team leader. He worked at Embrace for 19 years, most recently as its vice president of innovation for revenue and sales enablement, where he led cross-functional teams in implementing technology and processes to help Embrace enhance its customer service and close loans faster. He also previously served on the executive advisory board of nCino (formerly SimpleNexus, an nCino Company), a technology company whose software is used by banks and credit unions.

That’s a pretty solid mortgage-tech industry resume, so we asked Brad to share a few personal tidbits to help us all get to know him a little better:

What’s a personal accomplishment you’re particularly proud of?

I’m particularly proud of a thriving marriage for almost 30 years and raising our three amazing children.

If you could travel anywhere, where would you go and why? Or, what is the best place you’ve visited and why?

Our go-to spot has been Aruba for the last 26 years! However, the best place we’ve visited is St. John and the British Virgin Islands, thanks to the stunning views, incredible snorkeling, and the unforgettable memories we’ve made there.

What do you enjoy most about your job?

I love connecting consumers with lenders and realtors to help them discover the down payment assistance they need to achieve their homeownership dreams. Additionally, I enjoy building relationships with mortgage and real estate professionals.

Veronica Chapa, Sales Engineer

As sales engineer — also a new role at DPR — Veronica will accelerate our go-to-market strategy, onboarding new customers and expanding our market footprint. Veronica will be responsible for working with our marketing communications, sales and customer success teams to support the sales process from start to close/won. This will include meeting with potential customers to conduct thoughtful product demonstrations and educate them on how to successfully introduce greater efficiency and success using homebuyer assistance programs as a key business strategy.

She’ll be the point person setting up free product trials and soliciting client feedback and will partner with DPR’s sales leadership as we plan growth strategies. (So be sure to share with her how you’re doing with DPR’s tools and how we can do better!)

Veronica brings an extensive mortgage industry background, having served in various roles at mortgage lenders and mortgage technology companies, including Optimal Blue and Ellie Mae (now ICE Mortgage Technology), and we’re happy to have her. 

Here are some tidbits you won’t find on her resume:

What are your hobbies? 

I volunteer at the food bank in Cypress (TX) and help organize food and clothing for our local residents in need. I am also a mom of three boys, and I have five grandbabies. I spend four months out of the year watching college football. Go Buckeyes!

What do you enjoy most about your job?

I enjoy helping people understand down payment assistance, knowing they may have misconceptions about how it works and who can qualify. It’s wonderful to know we can help people in all walks of life, and in every U.S. county. The average consumer is just unaware of how much DPA can help them, and I hope that we can bridge that awareness gap so more people can become homeowners.

What’s your favorite way to spend a day off work? 

I love the weather here in Texas and we have a ton of trails in Cypress and nature preserves. I am always up for a walk in the woods around the creek. Other than that, just watching football or maybe having no plans at all is super exciting!

Lorrie Johnson, Customer Success Specialist

As a customer success specialist, Lorrie works closely with Veronica to ensure prospective customers are wowed from the moment they make contact with us through becoming DPA champions. Her role is to demystify the DPA process, ease their fears and debunk myths (like you can’t make money if you use DPA). She then sets them up for a free trial and finally, onboards them. She’ll stay in contact as customers grow. 

Lorrie has an extensive professional background in real estate, customer service and sales, and easily builds rapport with our lender and real estate/MLS customers, having walked in their shoes. (She is still an active real estate agent!) She also monitors support inquiries and resolves or escalates them as needed and assists with customer usage monitoring to help identify integration or adoption issues we may need to investigate. 

Here’s a few details she let us in on to help you get to know her better:

What’s your favorite way to spend a day off work? 

Realistically, I’m most likely to be cleaning and running errands on my day off, but when I find the time my favorite way to spend my day off is probably curled up on the couch watching a movie or exploring a new hiking trail, packing a picnic and just finding the beauty in nature that is all around us.

What’s a personal accomplishment you’re particularly proud of?

My children are my greatest accomplishment by far, and they make me very proud.  

I also feel an immense amount of pride when I help others achieve the American Dream through homeownership. When they put their trust in me to help guide and educate them, it is very humbling. I was once in their shoes, too. If someone had not come in and showed me the ropes, I would have never bought my first home. It’s such an honor and a privilege, really, to help educate buyers, lenders and real estate agents about what options they weren’t even aware of. So many people don’t even know about the assistance they can get (like FREE MONEY) or how little of a down payment they actually need to get into a home. 

What are your hobbies? 

I love visiting the National Parks and hope to visit them all one day. Yellowstone National Park is one of my absolute favorites. I enjoy the outdoors hiking or just working in my garden. I also enjoy arts and crafts. I’ll paint a rock, a pallet, or piece of furniture. I’m a fan of country music and right now am headed to the Morgan Wallen/Jelly Roll concert!

Lisa Rhodes, DPA Program Specialist

As a DPA program specialist, Lisa is one of our busy bees in contact with our network of program providers to ensure we always have current details on more than 2,400 DPA programs nationwide (have we mentioned our database is the most extensive and accurate anywhere?)

In this role, Lisa works to expand our DPA program provider contacts and ensure consistent communication. Much of her time is spent researching DPA programs online to gather as much intel as possible about program guidelines, requirements and funding status. She collects, interprets and inputs program data into our unique DPA database and builds collaborative relationships with DPA program providers to raise awareness and usage of their programs among lenders, real estate agents and consumers. She also monitors DPA programs for changes and ensures the accuracy of program details over time. 

Before joining DPR, Lisa served in various professional positions in the financial industry, including being an HFA program administrator for 17 years at U.S. Bank.

But here’s the really fun stuff to know about her:

If you could travel anywhere, where would you go and why? Or, what is the best place you’ve visited and why? 

I would love to travel the entire world. I think one of the most vital human experiences is getting to submerge yourself in other cultures and ways of life. It really opens up your entire life. If I had to pick my top three destinations they would have to be the UK, Turkey and Egypt. 

What are your hobbies? 

I love to read. My office has six bookshelves filled to the brim, and my collection has spilled out throughout my home. I also love walks with my three dogs (Abby Rhodes, Penny Lane and Charli Brown). Spending time with family and friends is a favorite pastime, regardless of what we are doing together. 

What’s your favorite way to spend a day off work? 

Sleeping in, shopping with my sister, having pool days with my friends, reading on my porch. Any day I get to choose to do nothing (or anything) is a great day.

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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.

Cardwell brings extensive industry experience in steering dynamic product strategies for driving revenue growth and enhancing sales effectiveness to his new role 

ATLANTA, Ga., July 31, 2024 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting homebuyers with homebuyer assistance programs, today announced 20-year mortgage industry veteran Brad Cardwell has joined DPR as its vice president of sales and business development. 

In his new role, Cardwell will lead DPR’s enterprise sales, growing both its sales team and partner network, with the goal of making more housing professionals and consumers aware of the availability and benefits of DPA for a range of homebuying expenses and property types.

“We are very excited to have someone of Brad’s stature and experience join DPR to extend our sales efforts at a very critical time for our company,” said DPR Founder and CEO Rob Chrane. “In the midst of an ongoing affordability crisis, we’re seeing more program providers and more down payment assistance options than ever and it’s our mission to get DPA into the hands of more homebuyers through their lender or real estate professional. There’s never been a time when DPA is more important and we’re looking to Brad to help us spread the word.”

Cardwell started his mortgage career as a loan officer and team leader at Embrace Home Loans, where he worked for 19 years, most recently as vice president of innovation for revenue and sales enablement. In this position, he launched the Sales Enablement Product Owner role, providing oversight of sales and marketing operations, including crafting go-to-market strategies and managing its technology stack to elevate organizational productivity. As the bridge between the executive team and sales, he led improvements in systems and processes, mitigating risks for loan officers and attaining a 3.5-day reduction in Embrace’s lead-to-close timeline. 

He also previously served on the executive advisory board of nCino (formerly SimpleNexus, an nCino Company), providing feedback for the product and roadmap.

“I’m especially grateful for this opportunity to contribute to a company that is truly making a difference,” Cardwell said. “DPR is at the forefront of helping homebuyers access down payment assistance programs making homeownership more attainable for many. I’m inspired by their mission and can’t wait to dive in and collaborate with such an innovative and dedicated team.” 

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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.

For Disability Pride Month Down Payment Resource Reports on Homebuyer Assistance Programs for People with Disabilities

ATLANTA, Ga., July 9, 2024 — In celebration of Disability Pride Month in July, Down Payment Resource (DPR) is highlighting 18 U.S. homebuyer assistance programs that are specifically designed to support people with disabilities and their family caregivers on their journey toward homeownership. While people with disabilities may be eligible for any of the 2,300-plus U.S. homebuyer assistance programs in DPR’s database, 18 are specifically developed to promote accessibility and inclusivity for aspiring homeowners with disabilities. 

People with disabilities represent about 15% of the world’s population, spanning all ages, races, ethnicities, genders, sexual orientations, religions and socio-economic backgrounds. Disability Pride Month originated in the U.S. to commemorate the passing of the landmark Americans with Disabilities Act (ADA) in July 1990. The observance seeks to change the way people think about and define disability, to promote the idea that being disabled is a natural part of human diversity and raise awareness of the challenges that people with disabilities face every day.

Program funds can be used for a variety of purposes such as down payments or closing costs. Many of the programs can be combined with other homebuyer assistance programs, providing individuals with disabilities additional financial support and resources.

An analysis of the 18 programs showcases the range of assistance available to promote homeownership for people with disabilities:

• Financial assistance range: The programs offer homebuyer assistance ranging from $2,000 to $117,000.
• Availability: The programs are offered regionally in eight states and the District of Columbia. A financial assistance program is offered nationally by the Department of Veterans Affairs (VA).
• Accessibility modifications: Funding from two programs can be utilized to support accessibility modifications, ensuring homes are tailored to the unique needs of individuals with disabilities.
• Program types: By type, the homeownership assistance programs available are three affordable first mortgages, 12 second mortgage programs, two grant programs and one combined assistance program.
• Homebuyer status: Four assistance programs are open to repeat buyers and four first-time buyer programs offer an exemption for Veterans so they can apply regardless of previous homeownership.

“We believe all Americans should have access to safe, affordable housing and these targeted programs are making homeownership possible for disabled buyers who otherwise thought they couldn’t afford to buy, or renovate, their home,” said DPR Founder and CEO Rob Chrane. “These programs can help buyers qualify for a mortgage and make changes to the home, like installing handrails, a chair lift or ramps, to make it easier for them to live there.”

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 2,300 programs and toolsets for mortgage lenders, multiple listing services (MLSs) 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 and MLSs, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

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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.

ATLANTA, Ga., July 1, 2024 — Down Payment Resource (DPR), the housing industry’s leading technology for connecting homebuyers with homebuyer assistance programs, today announced the addition of three new team members to support growing demand for down payment assistance (DPA) programs. 

“We’ve been in this business since 2008 and have never seen more interest in — and frankly more need for — DPA from both homebuyers and lenders. In response, DPA administrators are growing the number of DPA programs available and expanding the inventory box with programs that support funding for purchases of manufactured homes and multi-family properties,” said DPR Founder and CEO Rob Chrane. “Accordingly, demand for DPR’s lender suite, which supports DPA origination from lead generation to processing and underwriting to secondary sales, has grown. Combined with our recent integration with the ICE Encompass® loan origination system, DPR has a very bright future, and we’re happy our team is growing to meet market needs.”

DPR’s three hires are:

Veronica Chapa, sales engineer 

As sales engineer, Veronica Chapa will accelerate customer acquisition, revenue growth and market penetration at Down Payment Resource. Chapa has an extensive mortgage industry background, having served in various roles at mortgage lenders and mortgage technology companies, including Optimal Blue and Ellie Mae (now ICE Mortgage Technology). 

Lorrie Johnson, customer success specialist

As a customer success specialist, Lorrie Johnson works on the frontlines with our lender and real estate clients to coordinate customer success initiatives including onboarding, adoption and retention efforts. Johnson has an extensive background in real estate, customer service and sales.

Lisa Rhodes, DPA program specialist

As a program specialist, Lisa Rhodes will support collecting, monitoring and managing detailed eligibility data and program requirements for more than 2,300 DPA programs from 1,200 providers. By maintaining regular contact with program providers, Rhodes will ensure the integrity of DPR’s DPA Directory, the only tool to track every DPA program in the U.S. Before joining DPR, Rhodes served in various positions, including as HFA program administrator, for 17 years at U.S. Bank.

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 (MLSs) 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 and MLSs, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

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Down Payment Resource has crafted tools to help mortgage lenders, real estate agents and multiple listing services build relationships with homebuyers by connecting them with the homebuyer assistance they desire.

To explore the best option for your business, contact us.

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.

May is Military Appreciation Month, a time we set aside to honor and recognize the contributions and sacrifices of the men and women who have served and are currently serving in the U.S. Armed Forces.

In addition to Armed Forces Day (Saturday, May 18, 2024) and Memorial Day (Monday, May 27, 2024) this month we’re celebrating Silver Star Banner Day (May 1), VE Day (May 8), Military Spouse Appreciation Day (May 10, 2024), and Maritime Day (May 22). 

Using Your Entitlement

One benefit of military service is the VA home loan, a type of mortgage guaranteed by the U.S. Department of Veterans Affairs and issued by private lenders. For those able to qualify, VA home loans offer three distinct advantages for buying or refinancing a home:

• No Down Payment — with a VA home loan you can put zero down (although there may be advantages to making a down payment)
• Lower Payments — VA loans offer competitive interest rates with no private mortgage insurance (although a funding fee is required unless the applicant meets certain conditions)
• Easier to Qualify — VA loans can provide homeownership opportunities for veterans and servicemembers who might not qualify for conventional financing

In addition to saving money with a VA loan, you can often qualify for down payment assistance that can be used in a multitude of ways to make buying a home more affordable.

Finding Assistance

Down Payment Resource maintains a database of all 2,300+ assistance programs that can be searched for free. Within this extensive resource, about 40 programs include options for active-duty servicemembers, 51 target veterans, and 13 are open to surviving spouses. 

Each program is unique in how financing is structured and what you’ll need to qualify. For most programs you’ll need a minimum credit score of 620 or higher and an income that meets the program’s requirements. Many programs also consider your debt-to-income ratio (DTI), which is the percentage of your gross monthly income you use each month to cover the cost of auto loans, credit cards, student loans and other recurring debt.

Some programs are restricted to first-time buyers, although this requirement is often waived for servicemembers and Veterans, and many will require buyers to complete a homeowner education course.

A Closer Look at Three Programs

To give you an idea of what’s available, we looked at representative programs from our database, targeting segments of the military.

Active Duty

The City of Greensboro’s Housing Connect GSO’s Homebuyer Assistance Program is a source of financial assistance for low- and moderate-income first-time homebuyers. One of its subprograms focuses on assistance for Public Service Heroes, including active duty servicemembers and veterans, National Guard members and those in the Coast Guard. To qualify, you do not need to be a current resident of Greensboro (NC) but you must be purchasing a new or existing home within the city limits. Additionally, your income needs to be above 80% and below 120% of the area median income. Accepted applicants receive up to $15,000 toward their home purchase, with a $10,000 bonus available to those buying in a designated reinvestment or redevelopment area. 

For more information, visit the program website.

Veterans

The City of Westlake (FL) Housing Assistance Purchase Program is an affordable and workforce housing assistance purchase program to maintain the economic and social sustainability of housing supply within the city limits at various income limits. Veterans, defined as those who served in the active military and honorably discharged or released, can qualify under this program for a 10-year deferred loan of up to $60,000 in assistance based on income, plus they may qualify for additional 3% of the purchase price to be used toward the home purchase. There is no maximum home price but buyers may have incomes of no more than 140% of the HUD AMI.

For more information, visit the program website.

Veterans & Surviving Spouses (Veterans, Active Duty & Gold Star Family members)

The Atlanta Neighborhood Development Partnership (ANDP) renovates properties to sell to low- to moderate-income homebuyers. Its Veterans Program offers up to $15,000 in homebuyer assistance toward the purchase of affordable new and newly renovated homes in the Atlanta region. These homes listed for sale have a two-week “first look” period when only offers from veterans or active duty buyers are accepted. To qualify, you must not own another home and purchase the ANDP home as your primary residence. You do not need to be a first-time buyer. You will need an income at or below 120% of the AMI and to complete a HUD-approved homebuyer education course. Veterans interested in purchasing a home through the ANDP Veteran Program are required to use one of the program’s approved lenders. 

For more information, visit the program website.

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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.