Dems Propose 20-Year Mortgage for First-Gen Homebuyers

HousingWire, Sept. 24, 2021–Maria Volkova
The legislation, dubbed the “Low-income First Time Homebuyer (LIFT) Act,” would create a program through the Department of Housing and Urban Development that would sponsor low fixed-rate 20-year mortgages. The bill is sponsored by Sens. Mark Warner (D-VA), Tim Kaine (D-VA), Chris Van Hollen (D-MD), Raphael Warnock (D-GA), and Jon Ossoff (D-GA).