Vice President Kamala Harris Announces Initiative to Reduce Cost of Buying a Home
By D. Thompson Vice President Kamala Harris chose Bowie State University as the site to announce a new initiative that will reduce primary mortgage insurance (PMI) for FHA loans by 40 percent to enable more individuals to qualify and afford to become homeowners versus renting. The program begins on March 20 and is expected to impact 850,000 home buyers. The vice president shared a story about what it meant when her mother told Harris and her sister that they were becoming homeowners after years of renting, as she explained how homeownership sets the foundation for most families across the nation.