Homebuyer Assistance Act of 2021

Homebuyer Assistance Act of 2021

This bill modifies requirements for appraisers of Federal Housing Administration-insured mortgages. Currently, an appraiser must be certified by certain state or national entities. The bill removes the national entities from the list of approved certification entities and allows an appraiser for a mortgage for single-family housing to be state-licensed rather than state-certified to meet requirements. The bill also provides specified educational requirements for appraisers for mortgages for single-family housing.

Bill 117 HR 3008, also known as the Homebuyer Assistance Act of 2021, is a piece of legislation introduced in the US Congress. The main goal of this bill is to provide assistance to individuals looking to purchase their first home.

The bill proposes several key provisions to help make homeownership more accessible to a wider range of Americans. One of the main provisions is the establishment of a grant program that would provide financial assistance to first-time homebuyers. This grant program would help cover some of the upfront costs associated with purchasing a home, such as down payments and closing costs.

Additionally, the bill includes provisions aimed at increasing access to affordable housing options. This includes measures to incentivize the construction of new affordable housing units and the rehabilitation of existing properties. The bill also seeks to address issues of housing discrimination and promote fair housing practices. Overall, the Homebuyer Assistance Act of 2021 aims to make homeownership more attainable for individuals and families across the country. By providing financial assistance and promoting affordable housing options, the bill seeks to help more Americans achieve the dream of owning their own home.