To amend the National Housing Act to provide that a person purchasing a home with a mortgage insured under the FHA single family mortgage insurance program may, under such program, borrow amounts for the downpayment from family members.
FHA Parental Loan Act - Amends the National Housing Act to authorize amounts borrowed from family members to be used as a downpayment under the Federal Housing Administration uninsured mortgage program.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Housing and Community Development.
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