Establishes the Hometown Heroes Home Loan Guaranty Program to assist firefighters, law enforcement officers, nurses, and teachers with home loans.
The bill creates the Hometown Heroes Home Loan Guaranty Program, administered by the Department of Finance and Administration. It provides loan guaranties for eligible individuals, including firefighters, law enforcement officers, registered nurses, and teachers, who have been employed in these roles for at least four years. The program aims to help these individuals obtain conventional financing for purchasing residential property as their primary home. The Hometown Heroes Home Loan Guaranty Fund, a special fund in the state treasury, will be used for this purpose.
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- Core Provisions
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- Legal Framework
- Critical Issues
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