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Home-Buying Help Offered By U S to Low-Income Families
UPI reports Harold W. Greenwood Jr of Midwest Federal says Section 235 funds help low income families buy homes with FHA insured mortgages. Subsidies reduce payments to as low as 1 percent. down payment is $200. Assets limits, income caps, and local loan caps vary by area, with Minnesota example: max $17,500 per unit, $8,100 adjusted income for a five member family. Greenwood calls for nationwide HUD banking ad campaign to raise awareness and applications.
MENTIONED IN THIS ARTICLE
U.S
New York
UPI
Harold W. Greenwood Jr
Midwest Federal Savings and Loan Association
Minneapolis
Greenwood
Walter Mondale
Minnesota
FHA
HUD
Midwest
Congress
Banking