This is exciting news. More low- to middle income families will be able to purchase new homes under new legislation approved by the U.S. Senate friday.  The bill lowers the down-payment requirement for a Federal Housing Administration or FHA mortgage from 3 to 1.5 percent, and increases the mortgage limit from $362,000 to $417,000. What this means for the general public is that there is less needed to close in the purchase of a new home!!

This exciting legislation comes at a time when rising home prices have pushed home ownership out of the reach of tooa whole lot of lower and  middle-income families. Everyone appreciates the work Sen. Patty Murray has invested in this important policy because we understand what a huge impact it will have on all families in their strive to purchase a home.