Mortgage

MGIC announces partnership with Down Payment Resource

Companies aim to connect more eligible buyers to down payment assistance

On Monday, Mortgage Guaranty Insurance Corporation announced a new partnership with Down Payment Resource, a down payment assistance resource provider for homebuyers and professionals.

"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, CEO of Down Payment Resource. "We look forward to working with MGIC and its lender customers to help connect more buyers to available down payment assistance."

Through the partnership, customers of MGIC will have access to discounted Down Payment Resource services that make it easier for lenders to research down payment assistance programs and match borrowers to programs for which they may be eligible. The two companies will also work together to enhance consumer understanding of the availability and benefits of down payment assistance, the company explained in a press release.

"Our new partnership with Down Payment Resource simplifies and streamlines the participation of lenders in down payment assistance programs," said Margaret Crowley, vice president of marketing and customer experience at MGIC. "Together, we can further our shared mission of making homeownership possible sooner through low-down-payment options for borrowers."

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