Housing Financial Literacy Act of 2026

This bill changes the National Housing Act rules for upfront mortgage insurance premiums on FHA single-family home loans. First-time homebuyers who complete a financial literacy housing counseling program would pay a premium 0.25 percentage points (25 basis points) lower than the standard premium set by the Secretary of Housing and Urban Development. To qualify, the buyer would have to finish the counseling program before signing a mortgage application or a sales agreement. The bill replaces the current wording that caps the premium for these buyers at 2.75 percent of the original loan amount.

Full text and official record on Congress.gov

Sponsors

• Gary C. Peters Democrat sponsor
• 1 cosponsors