Mortgage Guaranty Insurance Corporation (MGIC)
has announced a partnership with Down Payment Resource (DPR)
. Through this partnership, MGIC customers will have access to discounted Down Payment Resource services that make it easy for lenders to research downpayment assistance programs and match borrowers to programs for which they may be eligible. MGIC and DPR will also work together to enhance consumer understanding of the availability and benefits of downpayment assistance.
"We know the challenge of saving for the down payment is the number one hurdle for first-time homebuyers. Now more than ever, it's important for buyers to understand and evaluate homeownership programs that may help them buy a home sooner," said Rob Chrane, Chief Executive Officer of Down Payment Resource. "We look forward to working with MGIC and its lender customers to help connect more buyers to available downpayment assistance."
Margaret Crowley, Vice President of Marketing and Customer Experience at MGIC, said, "Our new partnership with Down Payment Resource simplifies and streamlines the participation of lenders in downpayment assistance programs. Together, we can further our shared mission of making homeownership possible sooner through low-downpayment options for borrowers."