Mortgage revenue bond loan
 | The examples and perspective in this article may not represent a worldwide view of the subject. (December 2010) |
A Mortgage Revenue Bond Loan or bond loan is a type of mortgage loan where the cost of borrowing is partially subsidized by a mortgage revenue bond. Although details differ between programs, mortgage revenue bond loan programs are in general designed to lower the cost of homeownership for low to medium income borrowers, sometimes for targeted occupations or neighborhoods. In the United States, mortgage revenue bond loans have supported an average of 100,000 home purchases for low-income buyers between 1986 and 2006.[1] Example mortgage revenue bond loan programs include the Los Angeles Housing Department's mortgage revenue bond program,[2] the Arizona Housing Finance Authority Mortgage Revenue Bond Program,[3] and the Texas State Affordable Housing Corporation Professional Educators Single Family Mortgage Revenue Bond Program.[4]
References
[edit]- ^ Garriga, Carlos; Gavin, William; Schlagenhauf, Don (September–October 2006). "Recent Trends in Homeownership" (PDF). Federal Reserve Bank of St. Louis Review. 88 (5): 397–411.
- ^ "Mortgage Revenue Bond Program". Los Angeles Housing Department. 2006-03-01. Archived from the original on 2005-05-11. Retrieved 2007-02-24.
- ^ Barrón, Alicia (2007-02-22). "Governor announces $25 million to help first-time homebuyers". Fox 11 News. Archived from the original on 2015-05-14. Retrieved 2007-02-24.
- ^ "Texas State Affordable Housing Corporation Professional Educators Single Family Mortgage Revenue Bond Program". Countrywide Mortgage Revenue Bonds. 2007-02-01. Archived from the original on 2007-10-09. Retrieved 2007-02-24.