The White House introduced new measures on Monday to help Americans get closer to owning a home.
The Biden administration announced new measures Monday to help prospective homebuyers get closer to their dream of owning a home.Some of the measures include allowing buyers to use potential or actual income from units connected to a home, so-called accessory dwelling units such as garage apartments, as leverage when applying for a Federal Housing Administration-insured mortgage. The policy, the White House says, can help reduce the cost of a mortgage for a new homebuyer.
'These and other program changes will increase the use of FHA-insured mortgages to finance renovations that will improve existing homes and restore them to viable use, adding to the supply of housing in communities across the country.'Other measures announced Monday include efforts to help struggling homeowners on their mortgages, such as veterans, so they don't lose their houses.
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