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House Passes American Dream Downpayment Act

Tuesday, October 7, 2003 - 1:45AM

The House of Representatives passed H.R. 1276, the American Dream Downpayment Act, by a voice vote last week. The measure would provide $200 million in grant funds for low-income, first-time homebuyers. The grants would be distributed through the Department of Housing and Urban Development’s (HUD) HOME program. HUD estimates that the $200 million would assist approximately 40,000 low-income families with downpayment and closing costs on their homes. Click here for a copy of H.R. 1276.

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