New Web-based widget powered by Down Payment Resource® spotlighting down payment assistance for manufactured home buyers
FOR IMMEDIATE RELEASE
Contact: Grant Beck, Marketing and Communications Manager
Phone: (202) 851-7550
Email: g.beck@nextstepus.org
LOUISVILLE, KY – July 28, 2020 – Today, Next Step is excited to announce the launch of a new down payment assistance tool to support those looking to successfully purchase a new manufactured home. Next Step’s Down Payment Seeker™ tool is powered by Down Payment Resource® (a Web-based company that tracks approximately 2,300 homeownership programs).
“In these extraordinary times, those seeking to invest in themselves and their families through affordable homeownership need more support than ever,” said Stacey Epperson, president and founder of Next Step. “We’re thrilled to be partnered with Down Payment Resource. We can now offer our Down Payment Seeker tool to help folks identify programs that empower the finance and purchase of high performance, energy-efficient manufactured homes.”
Manufactured homes represent the largest source of unsubsidized, affordable housing in the country. With a dwindling housing stock, many prospective home buyers – particularly for first-time home buyers and those living in vulnerable communities – find themselves priced out of the market. Down payment assistance is a critical tool used to support successful home purchase for many buyers.
“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,” said 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.”
Next Step’s Down Payment Seeker tool is available at www.nextstepus.org/downpayment. Leveraging the algorithms built by Down Payment Resource, prospective home buyers are able to quickly identify programs that provide down payment assistance for manufactured home purchase. Based on individual needs, prospective home buyers may also enlist the support of Next Step’s housing counseling programs. These resources, including the SmartMH program (which connects qualified home buyers with financial institutions and manufactured home retailers), increases access to affordable, ENERGY STAR® manufactured homes with fair financing.
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About Next Step® Network, Inc.
Next Step® Network, Inc. is a national, nonprofit housing intermediary that works to promote expanded use of factory-built housing as a viable solution to address housing affordability. Our organization mobilizes a national network of mission-driven nonprofits, leaders in the manufactured housing industry and lending institutions serving home buyers and homeowners in their communities. Next Step’s system – Manufactured Housing Done Right® – connects responsible financing, comprehensive homebuyer education and delivery of high-quality, ENERGY STAR® manufactured homes at scale, creating a model that brings more value to the homeowners and communities. Learn more at www.nextstepus.org.
About Down Payment Resource® (DPR)
Down Payment Resource® (DPR) creates opportunity for homebuyers, Realtors and lenders by uncovering programs that get people into homes. The company tracks approximately 2,300 homeownership programs through its housing finance agency partners. DPR is the nation’s only database of homeownership programs and software that automates the process of matching eligible buyers and properties to available programs.