10075, which Rep. LaHood sponsored alongside three original cosponsors, including Rep. Moore and U.S. Rep. Jimmy Panetta (D-CA), aims to expand access to low-interest mortgages for first-time, low- to medium-income homebuyers. “The First-Time Homebuyer Affordability Act is a common-sense, bipartisan solution that will help more first-time homebuyers access affordable, low-interest mortgages without taking resources away from other critical housing programs,” Rep. LaHood said. Mortgage revenue bonds are a financing tool used by state and local housing agencies to support affordable homeownership opportunities. They help reduce borrowing costs and expand access to below-market mortgage financing. Under current law, mortgage bonds are subject to annual private activity bond volume caps, which limit the amount of financing states can provide each year.