A bill to authorize the Secretary of Agriculture to carry out a pilot program to provide mortgage credit for low and moderate income families.
Home Ownership Program Act - Directs the Secretary of Agriculture, through the Farmers Home Administration, to carry out in a selected number of counties or States a pilot program of credit extension to participating financial institutions at a rate of interest of four percent annually, to enable institutions to make mortgage loans to low- and moderate-income families residing in the service area of such institutions at interest rates of six percent annually.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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