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In order to assist more lower-income homebuyers and close the racial homeownership gap, the Federal Housing Administration (FHA) will change the way it reviews an applicant’s student loan debt. Fudge is expected to discuss the changes at a Black homeownership event in Cleveland on Friday. cbroderick. Mon, 06/28/2021 - 09:41.
The terms are often longer than credit cards or home equity lines of credit, making monthly payments more affordable. Approvals are based on the amount of equity in the home, and if the property is sold, any remaining balance can be passed on to the new owner.
The project received $290 million in private funds from French bank Societe Generale and KeyBank National Association of Cleveland, according to a Deep Water Wind press release. The income tax credit/credits issued under this program are equal to 33-1/3 percent of the amount invested by an investor in an eligible business.
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