A bill to require the Secretary of Housing and Urban Development to discount FHA single-family mortgage insurance premium payments for first-time homebuyers who complete a financial literacy housing counseling program.
About This Bill
Committee
Latest Action · June 23, 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
This bill requires the Department of Housing and Urban Development to reduce FHA mortgage insurance premiums for first-time homebuyers who complete a housing financial literacy counseling program before applying for a mortgage. The discount would lower the insurance premium by 25 basis points, which is roughly one-quarter of a percent of the loan amount. The bill specifically targets first-time homebuyers and aims to incentivize financial education by making homeownership more affordable for those who participate in approved counseling programs. The legislation was introduced in June 2026 and referred to the Senate Banking Committee, with no specific funding amount or implementation timeline detailed in the bill text.
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