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ALCOVA Mortgage partners with Down Payment Resource to expand access to homeownership

News Source: Down Payment Resource

Collaboration equips ALCOVA loan officers with real-time tools to connect more homebuyers to programs that reduce upfront costs and ease affordability challenges

ATLANTA, Ga., Oct. 14, 2025 (SEND2PRESS NEWSWIRE) — Down Payment Resource (DPR), the housing industry’s leading technology for connecting homebuyers with homebuyer assistance programs, announced today that it has partnered with ALCOVA Mortgage to expand access to down payment assistance (DPA) programs for homebuyers. The collaboration will help ALCOVA’s loan officers match borrowers with available programs more easily, addressing one of the biggest challenges in today’s housing market, namely affordability.

Down Payment Resource and Alcova Mortgage
Image caption: ALCOVA Mortgage partners with Down Payment Resource to expand access to homeownership.

Founded in 2003, ALCOVA Mortgage is a full-service independent mortgage company headquartered in Roanoke, Virginia, with a mission to simplify the mortgage process and guide borrowers through every step of homeownership. ALCOVA has grown steadily across multiple states, building its reputation on customer service, community involvement and innovative mortgage solutions.

Each month, the team at DPR communicates with 1,300+ providers across the country to update eligibility and benefit criteria of the more than 2,250 programs it tracks. All 3,143 U.S. counties have at least one DPA program, and 2,000+ counties have 10+ programs. The average DPA benefit of programs being tracked by DPR is $18,000. On average, DPA can lower an applicant’s LTV by an average 6%.

The integration of DPR into ALCOVA’s lending platform equips loan officers with immediate visibility into assistance programs, streamlining the process for both staff and borrowers. This partnership reflects both companies’ commitment to expanding homeownership opportunities and helping families achieve their dream of owning a home.

“With affordability challenges continuing to impact borrowers, down payments remain one of the biggest hurdles to homeownership,” said Nikki Dickens, senior vice president of training and product development at ALCOVA Mortgage. “Down Payment Resource makes it easy to match a borrower to potential down payment options. Having such an up-to-date, robust resource at the fingertips of both our sales and operations teams has been a godsend to me as someone who develops our loan programs internally.”

“We’re thrilled to partner with ALCOVA Mortgage to ensure that more buyers can access the down payment help available to them,” said Rob Chrane, founder and CEO of Down Payment Resource. “Together, we’re giving loan officers the tools they need to open the door to homeownership for more families.”

About ALCOVA Mortgage:

Childhood friends Bobby Nicely, Billy Siple and Rob Lindstrom shared a vision of building something meaningful, inspired by their roots in Alleghany County, Virginia. As a result, this dream led to the founding of ALCOVA Mortgage in 2003. In 2012, ALCOVA Mortgage achieved a significant milestone by being recognized on the prestigious Inc. 5000 list of the fastest-growing private companies in America. ALCOVA Mortgage had an annual revenue of approximately $75 million as of August 2025 and employs 485 people. For more information, visit https://alcova.com/.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,550 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by seven of the top 25 mortgage lenders, the three largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Twitter: @DwnPmtResource @AlcovaMortgage #downpaymentassistance #downpayment


This press release was issued on behalf of the news source (Down Payment Resource), who is solely responsible for its accuracy, by Send2Press Newswire.

To view the original story, visit: https://www.send2press.com/wire/alcova-mortgage-partners-with-down-payment-resource-to-expand-access-to-homeownership/

Copr. © 2025 Send2Press® Newswire, Calif., USA. -- REF: S2P STORY ID: S2P130080 FCN24-3B

 

INFORMATION BELOW THIS PAGE, IF ANY, IS UNRELATED TO THIS PRESS RELEASE.

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