Housing for Our Hometown Heroes Act

Key Points

• This bill asks the government to study a new home loan program. The goal is to see if the government can offer mortgages with no down payment to teachers and first responders who are buying their first home.
• The plan would help full-time police officers, firefighters, paramedics, and EMTs. It also includes full-time teachers who work in schools from pre-kindergarten through 12th grade.
• The Department of Housing and Urban Development would have six months to write a report. They must look at the costs of the program and how it might affect the government's insurance funds.
• The report would also look at how these loans could be paid for using special fees. Officials would talk to the Department of Veterans Affairs to see if they can use ideas from the current zero-down loan program for military veterans.
• If the government finds that a zero-down program is not possible, they must suggest other ways to help these workers buy homes.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.