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Cornerstone First Financial

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New Bill Introducing a Down Payment Assistance Plan for Prospective Homebuyers

On Friday, several U.S. representatives announced the introduction of the bill titled “Homeownership Opportunities Act” (H.R. 2929), for the purpose of bringing a pre-tax savings program to help prospective home buyers save for a down payment more efficiently.

Congressman Joe Heck (R-NV) expressed in a statement that as many young home buyers and even families continue to struggle financially, new tools should be developed to help them afford a down payment on a home.

“The Creating Homeownership Opportunity Act is exactly the kind of step Congress should be taking to restore the health of the housing market in Nevada and the nation. I look forward to working in a bipartisan way with Congressman Carney and the rest of the bill’s sponsors to get this important bill passed.”

Read the bill here.