In our latest real estate tech founder interview, we’re speaking with Rob Chrane, the founder and CEO of Down Payment Resource.
Without further ado…
What do you do?
I’m the founder and CEO of Down Payment Resource. We’re the nation’s leader in providing homebuyers and professionals with information on down payment assistance programs. We track approximately 2,500 homeownership programs through more than 1,300 housing finance agency partners and use our software to automate the process of matching eligible homebuyers and properties to available programs. Our tools integrated with Multiple Listing Services, lenders and agents.
What problem does your product/service solve?
Down Payment Resource helps solve a long-standing problem in the real estate and mortgage lending industry — how to more easily and efficiently connect eligible buyers and the homes they want to buy with hard-to-find resources including down payment programs, grants, tax credits and other assistance. We’re like Match.com for down payment help.
What are you most excited about right now?
This year we celebrate 10 years in business. It’s quite an accomplishment for a real estate company that began in 2008, in the wake of the housing crisis. I’m proud of the work our team has done to help elevate the conversation of homeownership programs in communities across the country and empower more homebuyers with information that could help them buy a home sooner. First-time homebuyers are the future of the market, but they’ve been sidelined for years. We know they want to buy — the aspirational goal is still intact. They simply need to see a path forward.
What’s next for you?
As part of our 10th anniversary, we’ve planned a series of initiatives to highlight the importance of affordable homeownership.
- We’re working with Giveback Homes to sponsor two Habitat for Humanity build days –
one in Austin, Texas, and another in Atlanta, Georgia, DPR’s headquarters.
- We will introduce the Beverly Faull Affordable Housing Leadership Award, in memory of accomplished real estate industry veteran and one of DPR’s first employees. Beverly Faull was a tireless advocate for the company’s mission of helping homebuyers access down payment programs. The award will recognize someone who has demonstrated leadership in providing more access to homeownership and affordable housing finance solutions.
- We’re partnering with mortgage insurance provider MGIC to enhance consumer understanding of the availability and benefits of down payment assistance through content on its consumer site, ReadyNest.com.
- Down Payment Resource, along with Freddie Mac, will commission the second annual Barriers to Homeownership report from the Urban Institute’s Housing Finance Policy Center. You can find the first report, released in November 2017, here.
What’s a cause you’re passionate about and why?
Outside of my passion for affordable housing, I enjoy working with and learning from our youngest generation. For the past two years, I’ve enjoyed mentoring second and third-grade boys twice a month at a charter school in my community. We discuss how to develop positive character traits like endurance, responsibility, service, honesty and forgiveness. We also get to know each other, spend time outside playing games and tackle any schoolwork they need help completing. Sometimes it’s really hard to know if you’re connecting, but then my students would ask when I’m returning and even bring an extra friend along.
Thanks to Rob for sharing his story. If you’d like to connect, find him on LinkedIn here.
We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).