Mortgage Guaranty Insurance Corporation (MGIC) and Down Payment Resource have debuted Down Payment Connect, a tool that helps loan officers match potential home buyers to down payment assistance programs in their area.
Down Payment Connect is a subscription-based down payment assistance look-up tool that loan officers can use to educate borrowers about programs that may be a fit for their situation. MGIC loan officer customers can use Down Payment Connect to help eligible home buyers quickly identify assistance programs and boost the affordability of their mortgage.
“Through Down Payment Connect, our customers now have access to hundreds of down payment programs in a single database to help them grow their customer base and, most importantly, put more families in homes,” says Margaret Crowley, MGIC’s vice president of marketing and customer experience.
“We know the challenge of saving for the down payment is the number one hurdle for first-time homebuyers, and many buyers don’t know to ask about this type of help,” adds Rob Chrane, CEO of Down Payment Resource. “Now more than ever, it’s important for buyers to understand and evaluate homeownership programs that may help them buy a home sooner. We are excited to help MGIC loan officer customers connect more buyers to available down payment assistance.”
For more information about the partnership, click here.