Harris to Propose $25,000 Assistance for First-Time Homeowners

[Papageorgio]

Oh I am all for the free market. But any company that is growing or interesteed in growth will create the growth jobs to go along with it. I have worked for a few of them. So can anyone else.

Then if they are growing they can grow without government assistance.

 

[debbiedowner]

I suspect her plan might be something along the lines of what almost every state offers in home owners assistance. Grants, low interest loans for down payments.

Down Payment Assistance By State​

Alabama​

Alaska​

Arizona​

Arkansas​

California​

Colorado​

Connecticut​

Delaware​

Florida​

Georgia​

Hawaii​

Idaho​

Illinois​

Indiana​

Iowa​

Kansas​

Kentucky​

Louisiana​

Maine​

Maryland​

Massachusetts​

Michigan​

Minnesota​

Mississippi​

Missouri​

Montana​

Nebraska​

Nevada​

New Hampshire​

New Jersey​

New Mexico​

New York​

North Carolina​

North Dakota​

Ohio​

Oklahoma​

The Oklahoma Housing Finance Agency (OHFA) Homebuyer Down Payment Assistance program gives eligible borrowers 3.5% of the total loan amount, which can be put toward the house down payment and closing costs.
Applicable loan types include FHA, USDA-RD, VA or conventional loans.
Eligibility requirements include:

• The home must be in Oklahoma
• The home will be used as your primary residence and must be occupied within 60 days of closing
• Cannot exceed the maximum household income requirements which vary by family size and home location
• Minimum credit score of 640

The Homebuyer Down Payment Assistance is available through participating lenders.

Oregon​

Pennsylvania​

Rhode Island​

South Carolina​

South Dakota​

Tennessee​

Texas​

Utah​

Vermont​

Virginia​

The Virginia Department of Housing and Community Development (VDHCD) has a down payment assistance program for first-time buyers or those who have not owned a home in at least three years called the HOMEownership Down Payment and Closing Cost Assistance program (DPA).
Borrowers can receive up to 10% or 15% of the sales price for the down payment as well as $2,500 for the closing costs.
Eligibility requirements include:

• Borrowers must not earn more than 80% of the area median income (AMI)
• Must get homeownership counseling and complete a HUD-certified homebuyer education course through VHDA or Neighborworks
• Borrowers must contribute 1% of the home’s sales price from their own funds

The HOMEownership Down Payment and Closing Cost Assistance program is available through participating lenders.

Washington​

West Virginia​

Wisconsin​

Wyoming​

Frequently Asked Questions (FAQs)​

How long does it take to get down payment assistance?​

This will depend on the state or local program you have applied to, based on the size of the program where you live and the demand for down payment assistance.

How much down payment assistance can I get?​

What credit score is needed for down payment assistance?​

How do you apply for down payment assistance?​

How much money do you need for a down payment on a house?​

What does down payment assistance cover?​

Housing Down Payment Assistance Programs By State

For many homebuyers, one of the most challenging aspects of purchasing a home is saving up for a down payment. If you don’t have tens of thousands of dollars on hand for this hefty, upfront expense, consider applying for down payment assistance (DPA) in the form of a loan or grant. There are more

www.forbes.com

 

[jbrownson0831]

Then if they are growing they can grow without government assistance.

No problem....how about the solar panel industry, green energy, etc, that are the dimtard babies? Those too?

 

[surada]

Kamala Harris To Propose $25K Down Payment Support For First-Time Homeowners

To address the housing shortage, Harris will call for the construction of 3 million new housing units. Her plan includes introducing a tax incentive for builders who focus on creating starter homes for first-time buyers and expanding existing tax credits for affordable rental housing development.

www.ibtimes.com

Vice President Kamala Harris will announce a comprehensive four-year strategy on Friday aimed at reducing housing costs. The plan includes a $25,000 down payment assistance program for first-time homebuyers and incentives to boost new housing construction, according to Harris-Walz campaign officials.

Harris will reveal the plan during an economic policy speech in North Carolina, CNN reported.

Damn, vote buying much?

Don’t try to drop prices by making sound financial decisions for the whole country, just print money and buy votes!

Next week:

Breaking news!.....Home prices just shot up $25,000 overnight. Economists baffled.

That sounds like a pretty good idea. Very different from Dubya's push to increase minority homeownership.

 

[Tommy Tainant]

Cutting one program to fund another isn’t what we need, less spending in all areas of government and higher taxes would help control debt, lower debt, stronger economy, stronger economy helps level wealth, level wealth, more are able to afford housing. $25,000 reduces the price by 8%, that doesn’t help more qualify for a home. We need to educate people on how to spend and how to go without as they build to their goals, buying votes and spending more money doesn’t help Americans, it hurts us in the long run.

Maybe. The tories tried all sort of similar tricks to spark our economy. They want a "home owning democracy" to create a tory base.

But they didnt work for a few reasons. They werent generous enough to start with. Or too complex.
My son has a saving scheme with one bank, Its a bit of a con. The interest rates are shit. He would be better off taking his cash to the track..

But the main reason it failed is because the building industry in conjunction with nimbys arent interested in uilding starter homes for young families.

They own most potential development land but they want to eke it out to keep prices high. The nimbys just dont want their own homes to lose value..

Ive been there myself. From my back door I look out over fields. The guy selling it was talking with a local builder. He was looking to build exec 4 bedroom homes.

The builder couldnt get planning permission in the end and the field was sold to a good lifer from London. . They filled the field with a few sheep and donkeys and chickens and banned all of us from cutting our hedge from their side.

They soon reversed that after the hedge got overgrown.

But the point being our housing prices are artificially high. The govt would be better off building council houses People could pay a fair rent and the local council would own aan asset.

But they arent doing that. Its a shame, but I digress.

 

[surada]

Even the notion is disingenuous but still serves to drive up housing prices.

A $25,000 tax credit does not mean that government is giving first-time homebuyers a $25,000 check.

It means they can reduce their tax burdens with deductions by a certain amount each year until the $25,000 figure is met (generally a few thousand dollars a year).

This is all just to make dumb shit dems "think" that they are getting free money. It's just hot air because the VAST majority of those Harris is targeting never pay taxes in the first place!

Sadly it's a ploy that will work because leftist dems are, as a rule, so stupid (87 IQ) they'll think they're getting a check for $25K.

Trump has an IQ of 87.

 

[Hollie]

Because government money is endless, as fast as the printing presses can run, Harris wants to put the government in the home buying business.

It's all about "federal subsidies". The money never ends when it's someone else's momey.

Inflation Overload: Kamala Harris Will Propose $25,000 Govt Subsidies for First-Time Homebuyers

VP Kamala Harris will propose sweeping new federal subsidies for first-time homebuyers Friday when she addresses a rally in North Carolina.

www.breitbart.com

Vice President Kamala Harris will outline sweeping new federal subsidies for first-time homebuyers Friday when she addresses a rally in North Carolina.
Bloomberg reports the 2024 Democratic presidential nominee will propose offering as much as $25,000 for first-time homeowners as down payment aid via funding provided by taxpayers.
Under the program, more than one million first-time home buyers who have a two-year history of on-time rent payments would be eligible for “down-payment support” and leverage into a purchase.
The plan to subsidize housing demand followed an earlier announcement Harris wanted to impose government-controlled pricing on grocery stores in order to protect American consumers from grocery store price hikes, as Breitbart News reported.

Harris’s housing proposal, which is designed to ease the progress of young buyers onto the property ladder, has sparked critics to ask: Won’t every home-seller just increase their sale price by $25,000?
Harris will apparently offer details on the plan during a speech in Raleigh, North Carolina, according to campaign officials.
n
The initiative would only be open to individuals who have consistently paid their rent on time for at least two years as Harris seeks to stop the fall in homeownership the Biden administration has been party to.

“For many Americans, paying rent and other bills makes it nearly impossible to save for a down payment, effectively locking them out of the housing market,” Harris’s campaign said in a statement. “This plan will give them the opportunity to own a home and build wealth.”
The vice president’s office has not yet disclosed the full mechanics of how the $25,000 support will be delivered, though it is anticipated to be a direct grant rather than a tax credit, the Maine Wire reports.

No indication has been given of the exact sum total the government is expecting to disperse in the taxpayer-funded handout or how this will impact inflation.

​

 

[SassyIrishLass]

There's another thread about how her ideas would balloon national debt.

It's crap like this that'll do it

 

[justoffal]

Because government money is endless, as fast as the printing presses can run, Harris wants to put the government in the home buying business.

It's all about "federal subsidies". The money never ends when it's someone else's momey.

Inflation Overload: Kamala Harris Will Propose $25,000 Govt Subsidies for First-Time Homebuyers

VP Kamala Harris will propose sweeping new federal subsidies for first-time homebuyers Friday when she addresses a rally in North Carolina.

www.breitbart.com

Vice President Kamala Harris will outline sweeping new federal subsidies for first-time homebuyers Friday when she addresses a rally in North Carolina.
Bloomberg reports the 2024 Democratic presidential nominee will propose offering as much as $25,000 for first-time homeowners as down payment aid via funding provided by taxpayers.
Under the program, more than one million first-time home buyers who have a two-year history of on-time rent payments would be eligible for “down-payment support” and leverage into a purchase.
The plan to subsidize housing demand followed an earlier announcement Harris wanted to impose government-controlled pricing on grocery stores in order to protect American consumers from grocery store price hikes, as Breitbart News reported.

Harris’s housing proposal, which is designed to ease the progress of young buyers onto the property ladder, has sparked critics to ask: Won’t every home-seller just increase their sale price by $25,000?
Harris will apparently offer details on the plan during a speech in Raleigh, North Carolina, according to campaign officials.
n
The initiative would only be open to individuals who have consistently paid their rent on time for at least two years as Harris seeks to stop the fall in homeownership the Biden administration has been party to.

“For many Americans, paying rent and other bills makes it nearly impossible to save for a down payment, effectively locking them out of the housing market,” Harris’s campaign said in a statement. “This plan will give them the opportunity to own a home and build wealth.”
The vice president’s office has not yet disclosed the full mechanics of how the $25,000 support will be delivered, though it is anticipated to be a direct grant rather than a tax credit, the Maine Wire reports.

No indication has been given of the exact sum total the government is expecting to disperse in the taxpayer-funded handout or how this will impact inflation.

​

That will only drive up the house prices.

 

[Foxfyre]

Because government money is endless, as fast as the printing presses can run, Harris wants to put the government in the home buying business.

It's all about "federal subsidies". The money never ends when it's someone else's momey.

Inflation Overload: Kamala Harris Will Propose $25,000 Govt Subsidies for First-Time Homebuyers

VP Kamala Harris will propose sweeping new federal subsidies for first-time homebuyers Friday when she addresses a rally in North Carolina.

www.breitbart.com

Vice President Kamala Harris will outline sweeping new federal subsidies for first-time homebuyers Friday when she addresses a rally in North Carolina.
Bloomberg reports the 2024 Democratic presidential nominee will propose offering as much as $25,000 for first-time homeowners as down payment aid via funding provided by taxpayers.
Under the program, more than one million first-time home buyers who have a two-year history of on-time rent payments would be eligible for “down-payment support” and leverage into a purchase.
The plan to subsidize housing demand followed an earlier announcement Harris wanted to impose government-controlled pricing on grocery stores in order to protect American consumers from grocery store price hikes, as Breitbart News reported.

Harris’s housing proposal, which is designed to ease the progress of young buyers onto the property ladder, has sparked critics to ask: Won’t every home-seller just increase their sale price by $25,000?
Harris will apparently offer details on the plan during a speech in Raleigh, North Carolina, according to campaign officials.
n
The initiative would only be open to individuals who have consistently paid their rent on time for at least two years as Harris seeks to stop the fall in homeownership the Biden administration has been party to.

“For many Americans, paying rent and other bills makes it nearly impossible to save for a down payment, effectively locking them out of the housing market,” Harris’s campaign said in a statement. “This plan will give them the opportunity to own a home and build wealth.”
The vice president’s office has not yet disclosed the full mechanics of how the $25,000 support will be delivered, though it is anticipated to be a direct grant rather than a tax credit, the Maine Wire reports.

No indication has been given of the exact sum total the government is expecting to disperse in the taxpayer-funded handout or how this will impact inflation.

​

If she got that through look for home ownership to be unaffordable for most. Corrupting the free market capitalist system that way is certain to escalate prices of existing and new homes through the roof as well as seriously exacerbate inflation. One reason we are in the mess we are now is that Democrats have such ignorant concepts of how economic principles work.

I was just reading how pharmaceutical prices have increased 1000% adjusted for inflation since Medicare and Medicaid was established and much other healthcare is unaffordable to most without increasingly expensive insurance that doesn't cover as much as it used to. It was federal subsidies to the colleges and universities that made a college education unaffordable to all but the rich and those who went into serious debt to get one and government financial meddling in public education that now has teachers digging into their own pockets in order to have basic supplies for their classrooms.

Trump knows the best way to bring prices down is to keep the federal and state governments out of it as much as possible and flood the market with private sector produced supply and demand. Kamala's ignorance on economics will make things much worse than they already are.

 

[marvin martian]

Because government money is endless, as fast as the printing presses can run, Harris wants to put the government in the home buying business.

It's all about "federal subsidies". The money never ends when it's someone else's momey.

Inflation Overload: Kamala Harris Will Propose $25,000 Govt Subsidies for First-Time Homebuyers

VP Kamala Harris will propose sweeping new federal subsidies for first-time homebuyers Friday when she addresses a rally in North Carolina.

www.breitbart.com

Vice President Kamala Harris will outline sweeping new federal subsidies for first-time homebuyers Friday when she addresses a rally in North Carolina.
Bloomberg reports the 2024 Democratic presidential nominee will propose offering as much as $25,000 for first-time homeowners as down payment aid via funding provided by taxpayers.
Under the program, more than one million first-time home buyers who have a two-year history of on-time rent payments would be eligible for “down-payment support” and leverage into a purchase.
The plan to subsidize housing demand followed an earlier announcement Harris wanted to impose government-controlled pricing on grocery stores in order to protect American consumers from grocery store price hikes, as Breitbart News reported.

Harris’s housing proposal, which is designed to ease the progress of young buyers onto the property ladder, has sparked critics to ask: Won’t every home-seller just increase their sale price by $25,000?
Harris will apparently offer details on the plan during a speech in Raleigh, North Carolina, according to campaign officials.
n
The initiative would only be open to individuals who have consistently paid their rent on time for at least two years as Harris seeks to stop the fall in homeownership the Biden administration has been party to.

“For many Americans, paying rent and other bills makes it nearly impossible to save for a down payment, effectively locking them out of the housing market,” Harris’s campaign said in a statement. “This plan will give them the opportunity to own a home and build wealth.”
The vice president’s office has not yet disclosed the full mechanics of how the $25,000 support will be delivered, though it is anticipated to be a direct grant rather than a tax credit, the Maine Wire reports.

No indication has been given of the exact sum total the government is expecting to disperse in the taxpayer-funded handout or how this will impact inflation.

​

Yay! Now I know exactly how much to raise the listing price of the next house I sell.

 

[justoffal]

Yay! Now I know exactly how much to raise the listing price of the next house I sell.

Exactly..... Offering 25,000 down to boost the down payment will allow you to move as much as a 100K up. But Fear not.... You will be jailed for price gouging!

 

[Lisa558]

So are there the usual income requirements from the bank, or will Commiela dictate lower standards for the good of…..equity….so that people who cannot afford a house will get to buy it, and with no skin in the game?

The average house in New Jersey is about $530,000, which would require an income of around $150,000. So affluent earners in the top quintile would get a big taxpayer windfall?

Below is a house listed for $525,000 in New Jersey, looks quite nice to me. Should we give an affluent family $25,000 to buy this, driving up housing costs even more? The Dems’ idea of giving people OPM so they can “afford stuff” just drives prices up more!

(And before the libs scream, “no it’s for the middle class earning $80,000” - news flash: they don’t earn enough to afford a house!)

Here’s a $525,000 house in the middle New Jersey:

344 East Ave, Clayton, NJ 08312 | Zillow

344 East Ave, Clayton NJ, is a Single Family home that contains 2100 sq ft and was built in 1986.It contains 4 bedrooms and 2 bathrooms.This home last sold for $525,000 in October 2024. The Zestimate for this Single Family is $532,500, which has increased by $4,626 in the last 30 days.The Rent...

www.zillow.com

 

[marvin martian]

So are there the usual income requirements from the bank, or will Commiela dictate lower standards for the good of…..equity….so that people who cannot afford a house will get to buy it, and with no skin in the game?

That worked out so great when Obama did it in 2008.

 

[justoffal]

So are there the usual income requirements from the bank, or will Commiela dictate lower standards for the good of…..equity….so that people who cannot afford a house will get to buy it, and with no skin in the game?

The average house in New Jersey is about $530,000, which would require an income of around $150,000. So affluent earners in the top quintile would get a big taxpayer windfall?

Below is a house listed for $525,000 in New Jersey. Would a family earning $150,000 want to buy this, and should we be giving them $25,000 to do so - thus driving up housing costs even more? The Dems’ idea of giving people OPM so they can “afford stuff” just drives prices up more!

Here’s what $525,000 will get you in middle New Jersey:

Nope! Going to put the bankers in jail! Problem solved.

 

[justoffal]

So are there the usual income requirements from the bank, or will Commiela dictate lower standards for the good of…..equity….so that people who cannot afford a house will get to buy it, and with no skin in the game?

The average house in New Jersey is about $530,000, which would require an income of around $150,000. So affluent earners in the top quintile would get a big taxpayer windfall?

Below is a house listed for $525,000 in New Jersey. Would a family earning $150,000 want to buy this, and should we be giving them $25,000 to do so - thus driving up housing costs even more? The Dems’ idea of giving people OPM so they can “afford stuff” just drives prices up more!

Here’s what $525,000 will get you in middle New Jersey:

No....it won't change anything except house prices. People will still be priced out.

 

[EvilCat Breath]

Democrats are going to follow the Maduro Economic plan.

 

[Thinker101]

Obviously KamelToe has still not learned how inflation works.

 

[Lisa558]

That worked out so great when Obama did it in 2008.

Yup. Kicked off a major financial crisis.

Maybe we should get ahead of this one and short some stocks?

 

[justoffal]

Obviously KamelToe has still not learned how inflation works.

Somebody better tell her....