CHLA Applauds Biden’s Tax Credit Initiative
(Washington, D.C) – Community Home Lenders of America (CHLA) commends the Biden administration for the initiatives to increase homeownership affordability – particularly through the Mortgage Relief Credit.
“As noted in Biden’s State of the Union address, the proposed Mortgage Relief Credit initiative will lower homeownership costs by reducing the mortgage rate by 1.5 percentage points for two years on a median-valued home. In a time of historically high mortgage rates, such affordability initiatives are critical in empowering first-time and low-income borrowers in purchasing a home and building generational wealth,” said Scott Olson, executive director of Community Home Lenders of America.