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REALTOR®: C.A.R. launches new tool to inform California home buyers of down payment assistance programs

Wednesday, February 20, 2013

In an effort to provide California home buyers with up-to-date information about available home buyer assistance programs, the California Association of REALTORS® (C.A.R.) this week launched California Mortgage Resource Directory (http://mortgage.car.org), a powerful search tool that identifies current mortgage programs in communities throughout the state.

"Millions of dollars go unused every year because home buyers are unaware of the various buyer assistance programs available to them," said C.A.R. President Don Faught. "With California Mortgage Resource Directory, REALTORS® and buyers can quickly connect with any number of home buyer resources without having to search within each municipality individually."

California Mortgage Resource Directory helps bridge the down payment gap for homebuyers and connects them with resources that they may not have otherwise known existed. Buyers can search by city or address for public- and private-funded assistance programs including FHA/VA, HUD, affordable fixed-rate mortgages, rehab loans, and more.

"The California Mortgage Resource Directory is a good resource if you are thinking of buying a home and are assessing your finances. Many buyers are unaware of down payment and other home buyer assistance programs that are out there. This would be a valuable tool for both REALTORS® and their clients," said Carolyn Miller, president of the Silicon Valley Association of REALTORS®.

The new directory is powered by Down Payment Resource, the nation's only web-based aggregator of home buyer programs. Down Payment Resource helps potential home buyers become qualified buyers by connecting them to hard-to-find down payment assistance funds. The tool was developed by Workforce Resource (www.workforce-resource.com) and is made available through Multiple Listing Services, REALTOR® associations, and nonprofits.


The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.

The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.

Variations of this article have appeared in local area newspapers.

For further information, please contact Rose Meily at SILVAR Public Affairs, email , or phone (408) 200-0109.

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