Home Ownership For All
In the early 2000s, under President George W. Bush, America launched one of the largest pushes for homeownership in our history. Millions of working-class families, including many in my own community, were able to finally buy homes. Low-down loans, easier credit access, and adjustable-rate mortgages (ARMs) opened the doors to first-time buyers across the country.
Yes, Wall Street and the big banks crashed the market with greed and speculation. But the policy itself—helping Americans into homes—was right. The mistake was bailing out the banks instead of the homeowners. My plan is to bring this back, but this time, the bailouts will go to the people.
Reviving the American Dream
Homeownership for All – Policy Details
1. No/Low Down Payment Mortgages
Household income under $100,000/year → 0% down required (government-backed guarantee fund covers the risk).
Household income $100,000–$200,000/year → 3% down required.
Household income above $200,000/year → 5% down required.
Primary residences only → No investor, vacation home, or corporate use. This policy is about families, not hedge funds.
2. Adjustable-Rate Mortgages (ARMs) Simplified
Many people remember ARMs from the 2000s, but they often don’t understand how they actually work.
5/5 ARM
Interest rate is fixed for the first 5 years.
Every 5 years after that, the rate can adjust (up or down) based on the market.
This gives buyers predictable, low payments upfront with only rare adjustments.
7/3 ARM
Interest rate is fixed for the first 7 years.
After that, it adjusts every 3 years.
Perfect for families planning to refinance or move within a decade.
👉 These ARMs keep monthly payments far lower than today’s fixed 30-year rates, giving working families more buying power.
3. Refinance Opportunities – Today’s Numbers
Current average 30-year fixed mortgage rate (Aug 2025): ~6.75%
Typical 5/5 ARM today: ~5.25%
Typical 7/3 ARM today: ~5.5%
Example:
Current mortgage balance: $300,000
At 6.75% fixed → Monthly payment ≈ $1,946
Refinance into a 5/5 ARM at 5.25% → Monthly payment ≈ $1,657
Savings: $289/month, or $3,468/year
Multiply this across millions of American homeowners, and the relief is massive.
4. Opening the Door for New Homeowners
Median home price (2025): ~$420,000
With today’s 6.75% fixed mortgage, a family needs ~$2,725/month to qualify.
Under a 5.25% ARM, the same family pays ~$2,320/month — a savings of over $400/month.
This difference is the barrier between renting forever and finally owning a home.
5. Homeowner Bailout Fund
If the housing market crashes again, homeowners—not banks—get the bailout.
Options would include:
Refinancing assistance if rates spike
Principal reduction if home values fall drastically
Temporary payment relief during economic crises
Why This Benefits Millions Right Now
Current homeowners save hundreds per month through refinancing.
First-time buyers finally get access, with no/low down payments and lower monthly costs.
The middle class expands because homeownership is the #1 wealth-builder in America.
No more Wall Street bailouts—the people get the relief this time.
Homeownership Builds Safer Communities
Homeownership doesn’t just build wealth — it builds responsibility. Studies have shown that crime is consistently lower in neighborhoods where families own their homes. Why?
Ownership creates pride. When you own something, you take care of it. Families who own their homes invest in upkeep, beautify their yards, and protect their property.
Stability reduces crime. Homeownership anchors people in their communities. Instead of moving every year or two, families plant roots. They build relationships with neighbors, schools, and local businesses.
Shared interest in safety. When something belongs to you, you fight to keep it safe. Homeowners actively watch over their neighborhoods, support law enforcement, and step up for community watch programs.
Cleaner, stronger neighborhoods. Renters often have little incentive to maintain property long term, but homeowners want to see their block thrive. Pride of ownership translates into cleaner streets, safer parks, and better schools.
“If we want to reduce crime, we need to increase ownership. When Americans own their homes, they own their future—and they protect it.”