Establishes a home-buyer assistance program for police officers, firefighters, public school teachers, corrections officers, and sanitation workers.
The bill establishes the "Police Officer, Firefighter, Public School Teacher, Corrections Officer, and Sanitation Worker Home-buyer Assistance Act" to provide down-payment assistance to qualified public safety and education workers. Eligible workers must have at least one year of service and maintain the home as a primary residence for five years. The program offers zero percent interest rate second mortgage loans of $10,000 for down payments and closing costs. The loans are forgiven at a rate of 20% per year for five years.
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- Core Provisions
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- Critical Issues
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