What does Preamble of Housing for Our Hometown Heroes Act do?

This bill directs the Secretary of Housing and Urban Development to submit a report to Congress. The report would address potentially exempting downpayment requirements for Federal Housing Administration mortgage insurance. The exemption would apply to first-time homebuyers who are first responders or school teachers.

What does SHORT TITLE. of Housing for Our Hometown Heroes Act do?

This bill is formally titled the "Housing for Our Hometown Heroes Act".

What does REPORT ON ZERO-DOWNPAYMENT FOR FHA MORTGAGE INSURANCE. of Housing for Our Hometown Heroes Act do?

This section requires the Secretary of Housing and Urban Development (HUD) to submit a report to Congress within 180 days of enactment. The report must assess the feasibility of a program exempting first-time homebuyers who are first responders or school teachers from down payments for FHA mortgage insurance. The report must analyze the benefits and detriments of such a program, its cost, and its impact on the mutual mortgage insurance fund. The report should explore how the program could remain solvent through upfront or combined upfront and annual fees. It also requires an analysis of the program's effect on first responders' and school teachers' ability to purchase homes. The report must include an analysis of expected premiums needed to maintain a negative credit subsidy rate. If the program is deemed infeasible, the report must offer recommendations for alternative solutions. HUD is directed to consult with the Secretary of Veterans Affairs regarding the report, considering potential incorporation of elements from the VA Home Loan Program.

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Housing for Our Hometown Heroes Act

Last updated: 3/3/2026 · Introduced: 3/3/2026

Author: Tom Barrett (R-MI)

TL;DR (AI)

This bill directs the Secretary of Housing and Urban Development to report to Congress on the feasibility of exempting first responders and school teachers from down payments for Federal Housing Administration (FHA) mortgage insurance.
The report will analyze the potential costs, benefits, and financial impact of such a program, including premium structures and its effect on the mutual mortgage insurance fund.
If a zero-downpayment program is deemed infeasible, the report must recommend alternative solutions to help first responders and school teachers purchase homes.

119th Congressin committeeOfficial page

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Includes provisions on preamble, short title., and 1 more.

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