First-time homebuyer program seeks to create equity in housing

Source: Michele Lerner, Washington Post (Paid Registration)

The possibility of a first-time home buyer tax credit of up to $15,000 was part of President Biden’s campaign proposal to boost the participation of first-time buyers in the housing market. But the first indication of a new program for first-time buyers is the Down Payment Toward Equity Act of 2021, a draft of legislation published and discussed at a hearing of the House Financial Services Committee on April 14.

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