New Senate Bill Would Give First-Time Homebuyers $5 For Every $1 They Save

Key Points

• A $5 match for every $1 saved: Sen. Jeff Merkley’s Homeownership Promise Act would give first-time homebuyers up to $50,000 from HUD on top of $10,000 they save themselves, for as much as $60,000 at closing.
• Limits on who and what qualifies:
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