Senate Bill 2920
117th Congress(2021-2022)
Downpayment Toward Equity Act of 2021
Introduced
Introduced in Senate on Sep 30, 2021
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2920
Congress
117
Policy Area
Housing and Community Development
Housing and Community Development
Primary focus of measure is home ownership; housing programs administration and funding; residential rehabilitation; regional planning, rural and urban development; affordable housing; homelessness; housing industry and construction; fair housing. Measures concerning mortgages and mortgage finance may fall under Finance and Financial Sector policy area.
No Senate votes have been held for this bill.
Summary
Downpayment Toward Equity Act of 2021
This bill establishes a grant program through the Department of Housing and Urban Development for states and other entities to provide qualifying assistance to certain first-time, first-generation home buyers in purchasing their first homes. Qualifying assistance includes assistance for mortgage down payments, mortgage closing costs, reduction of mortgage interest rates, subsidies for shared equity homes, or for certain preoccupancy modifications to a home to accommodate persons with disabilities.
The bill also establishes grant requirements regarding home buyer income, types of housing, homeowner occupancy, types of mortgages, and home buyer counseling.
September 30, 2021
Sort by most recent
06/22/2022
Committee on Banking, Housing, and Urban Affairs. Hearings held.
02/10/2022
Committee on Banking, Housing, and Urban Affairs. Hearings held.
09/30/2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
09/30/2021
Introduced in Senate
Public Record
Record Updated
Jan 2, 2023 12:29:09 AM