Downpayment Toward Equity Act of 2023
- Last Action
- 6/21/2023
Actions
- 2023-06-21Referred to the House Committee on Financial Services.
- 2023-06-21Introduced in House
- 2023-06-21Introduced in House
CRS Summary
As of 2023-06-21 (00)
Downpayment Toward Equity Act of 2023
This bill establishes a grant program through the Department of Housing and Urban Development for states and other entities to provide qualifying assistance to certain first-time, first-generation home buyers in purchasing their first homes. Qualifying assistance includes assistance for mortgage down payments, mortgage closing costs, reduction of mortgage interest rates, subsidies for shared equity homes, or for certain preoccupancy modifications to a home to accommodate persons with disabilities.
The bill also establishes grant requirements regarding home buyer income, types of housing, homeowner occupancy, types of mortgages, and home buyer counseling.
Cosponsors (20)
- Al Green (D-TX)
- Sylvia Garcia (D-TX)
- Ayanna Pressley (D-MA)
- Juan Vargas (D-CA)
- Suzanne Bonamici (D-OR)
- Emanuel Cleaver (D-MO)
- Gwen Moore (D-WI)
- JAMES MCGOVERN (D-MA)
- Ritchie Torres (D-NY)
- Mark Pocan (D-WI)
- GREGORY MEEKS (D-NY)
- Nikema Williams (D-GA)
- Stephen Lynch (D-MA)
- Sydney Kamlager-Dove (D-CA)
- Rashida Tlaib (D-MI)
- Salud Carbajal (D-CA)
- Joyce Beatty (D-OH)
- Henry Johnson (D-GA)
- ADAM SMITH (D-WA)
- Grace Meng (D-NY)
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.