Homebuyer Assistance Act of 2021

Hozzl · 2023-03-08T19:58:39Z

Explore the details of House Bill 3008 Homebuyer Assistance Act of 2021 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Housing and Community Development. Stay informed on legislative developments.

3/8/2023, 7:58 PM

Summary of Bill HR 3008

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.

Congressional Summary of HR 3008

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.

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Current Status of Bill HR 3008

Bill HR 3008 is currently in the status of Introduced to Senate since May 19, 2021. Bill HR 3008 was introduced during Congress 117 and was introduced to the House on May 7, 2021. Bill HR 3008's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of May 19, 2021

Bipartisan Support of Bill HR 3008

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 3008

Primary Policy Focus

Housing and Community Development

Potential Impact Areas

- Administrative law and regulatory procedures

- Department of Housing and Urban Development

- Housing finance and home ownership

- Housing industry and standards

- Licensing and registrations

- Real estate business

- State and local government operations

Alternate Title(s) of Bill HR 3008

Homebuyer Assistance Act of 2021

To amend the National Housing Act to authorize State-licensed appraisers to conduct appraisals in connection with mortgages insured by the FHA and to require compliance with the existing appraiser education requirement, and for other purposes.

Homebuyer Assistance Act of 2021