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What is Bond Money?


Millions of families have found home ownership more affordable through the use of Mortgage Revenue Bonds also known as Bond Money. The IRS allows state and local governments to sell tax-exempt bonds and use the proceeds to finance low-interest rate mortgages for homebuyers.  Investors that purchase the bonds are willing to accept a lower interest rate because the income is free from federal taxes.  The lower interest rate made possible by the tax-exemption is passed on to home buyers in the form of a below market interest rate.  The lower interest rate results in a lower monthly payment making home ownership more affordable.

Bond Money has made homeownership possible for more than 2.4 million families, more than 100,000 every year.  A typical bond mortgage saves as much as $100 a month compared to a traditional mortgage.  That’s nearly a $40,000 savings over the life of the mortgage.  Bond programs may also provide down payment and closing cost assistance.



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