Homeownership Act Lowers Down Payments

The House passed the "Expanding American Homeownership Act" of 2006, which lowers down payment requirements for Federal Housing Administration (FHA)-insured loans. The bill now awaits Senate action.
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In a statement, President George W. Bush praised the passage of the bill and encouraged the Senate to join the House in passing the legislation. He noted that �the bill will improve FHA�s ability to help lower- and moderate-income families achieve the American Dream.

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Read more about the Homeownership Act…

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