HUD grants authorized for down payment assistance
Northwestern Financial Review, Jan 15-Jan 31, 2004
President Bush has signed the American Dream Down Payment Act which, according to the Department of Housing and Urban Development, provides for $200 million in down payment and closing cost assistance to as many as 40,000 low-income families. HUD will administer the project. Under the program, the maximum down payment assistance is either $10,000 or 6 percent of the purchase price of the home, whichever is greater.
More than 500 state and local jurisdictions will be eligible to receive grant funding under the law.
Copyright NFR Communications Inc Jan 15-Jan 31, 2004
Provided by ProQuest Information and Learning Company. All rights Reserved
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