Congress reintroduces the HELPER Act 2023

Homeownership builds generational wealth best. Homeowners earn 40 times more than renters, according to the National Association of Realtors.

With rising everyday expenditures, saving for the down payment seems impossible.

The U.S. Department of Veterans Affairs offers a great home financing program for veterans.

Veterans may buy a house without a down payment or mortgage insurance with the VA house Loan. This lets heroes generate generational riches with little savings.

What about people who serve our communities and want to buy a home but don’t have a down payment? Hope looms.

The HELPER Act of 2023 was reintroduced in Congress last month.

If passed, it would create a loan program similar to the VA Home Loan for pre-kindergarten through 12th-grade educators in public and private schools, as well as law enforcement, firefighters, and EMS responders at the federal, state, tribal, and local levels.

HELPER Act loans, like VA Home Loans, finance 100% of the assessed price without a down payment. The HELPER Act loan does not need monthly mortgage insurance, lowering monthly payments compared to FHA loans.

Congress rejected a 2021 HELPER Act version. Contact your local Congress representatives to support the HELPER Act of 2023 and our hometown heroes.

House Bill H.R. 3170 and Senate Bill S.1514 explain the HELPER Act.

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About the Author: Sanjh Vishwakarma

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