Homeownership Act Lowers Down Payments

The House passed the "Expanding American Homeownership Act" of 2006, which lowers down payment requirements for Federal Housing Administration (FHA)-insured loans. The bill now awaits Senate action.
 

In a statement, President George W. Bush praised the passage of the bill and encouraged the Senate to join the House in passing the legislation. He noted that “the bill will improve FHA’s ability to help lower- and moderate-income families achieve the American Dream.

Read more about the Homeownership Act…