Affordability Win: Trump admin unveils new mortgage option where the bank maintains indefinite title to home and occupants pay a monthly fee to live there
Director Pulte said this program "delivers on the Trump administration's commitment to lower housing costs."
By Housing reporter ·
United States — Federal Housing Finance Agency director Bill Pulte has announced that the Trump administration is working on a new mortgage option to increase housing affordability.
Pulte unveiled the initiative to press on Tuesday:
"We are securing major wins for homeownership in this country, young Americans will all be eligible for this new program as soon as it is available."
The new option would allow Americans to avoid the costly down payment requirements typical of other mortgages.
This new option would operate on a monthly fee arrangement, and, unlike the 50-year mortgage, occupants would incur $0 in debt, pay no interest, and receive no title to the property.