What does Preamble of Housing Financial Literacy Act of 2026 do?

This bill would require the Secretary of Housing and Urban Development to discount FHA single-family mortgage insurance premium payments. The discount applies to first-time homebuyers. To qualify, first-time homebuyers must complete a financial literacy housing counseling program.

What does SHORT TITLE. of Housing Financial Literacy Act of 2026 do?

This bill is formally titled the Housing Financial Literacy Act of 2026.

What does DISCOUNT ON MORTGAGE INSURANCE PREMIUM PAYMENTS FOR FIRST-TIME of Housing Financial Literacy Act of 2026 do?

This section amends section 203(c)(2) of the National Housing Act. The amendment adds a requirement that a financial literacy housing counseling program be completed before a mortgagor signs a mortgage application or sales agreement. The maximum mortgage insurance premium discount for first-time homebuyers who complete such programs is modified to be 25 basis points lower than the amount established by the Secretary.

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Housing Financial Literacy Act of 2026

Last updated: 6/23/2026 · Introduced: 6/23/2026

Author: Gary Peters (D-MI)

TL;DR (AI)

This bill requires the Department of Housing and Urban Development to offer discounted FHA mortgage insurance premium payments to first-time homebuyers.
To qualify for the discount, first-time homebuyers must complete a financial literacy housing counseling program.
The maximum mortgage insurance premium discount for eligible first-time homebuyers is set at 25 basis points.

119th Congressin committeeOfficial page

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

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