As US home purchases fall, White House to assist first-time buyers

WASHINGTON D.C.: The White House announced this week that it will help some 850,000 first time home buyers save some $800 a year on the cost of a typical mortgage by reducing fees on Federal Housing Administration loans.

The Federal Housing Administration charges the fees to insure lenders against riskier loans often taken out by lower-income home-buyers.

Vice President Kamala Harris will announce the pla