To Unlock Home Ownership for First Responders and Teachers, King Cosponsors Bill to Create First-Time Home Loan Program without Down Payment Requirement

March 08, 2024
WASHINGTON, D.C.—U.S. Senator Angus King (I-ME) is joining legislation that would help public service providers like first responders and teachers afford homes and live in the communities where they work. TheHomes for Every Local Protector, Educator, and Responder (HELPER) Actwould establish a new, one-time-use home loan program for law enforcement officers, firefighters, medical first responders, and teachers.
Arecent studyfrom a group of Maine housing experts found that Maine is now short more than 84,000 homes. The study also found that Maine faces serious challenges including historic underproduction, aging housing stock, future need, lack of affordability, workforce decrease, and a high demand of seasonal homes.
“Communities across America are facing a serious affordable housing crisis, including in towns and cities around Maine,”said Senator King. “The bipartisanHELPER Actwould help public servants like first responders and teachers live in the communities they dutifully serve with a new home loan program, including the elimination of mortgage down payment requirements. There’s no one easy solution to our housing affordability problems, but this bipartisan effort would be an important step forward.”
TheHomes for Every Local Provider, Educator, and Responder (HELPER) Actwould:
Joining King on theHELPER Actare Senators Marco Rubio (R-FL), Jon Ossoff (D-GA), Sherrod Brown (D-OH), Raphael Warnock (D-GA), Bob Menendez (D-NJ), Catherine Cortez Masto (D-NV), Richard Blumenthal (D-CT), Rick Scott (R-FL), Tammy Baldwin (D-WI), Bob Casey (D-PA), Martin Heinrich (D-NM), Ben Cardin (D-MD), Jim Risch (R-ID), John Boozman (D-AR), Corey Booker (D-NJ), Jacky Rosen (D-NV), Bill Cassidy (R-LA), Markwayne Mullin (R-OK).
Senator King has long been committed to ensuring Maine people across the state can access safe and affordable housing. He recently introduced the bipartisanHistoric Tax Credit Growth & Opportunity (HTC-GO) Actand theAffordable Housing Credit Improvement Actto create nearly two million new affordable homes across the country – including thousands in Maine. He also worked with his Republican colleagues to improve affordability of rural homes and farms through introduction of theAccess to Credit for our Rural Economy (ACRE) Act of 2023. Additionally, he hasworked to expand affordable workforce housingon Mount Desert Island to support the economic development surrounding Acadia National Park.
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