HR10084Referred to Committee

First Time Homebuyer Debt Reduction Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-08-13
Introduced
0
Cosponsors
HR
ⓘ
Type

Sponsor

Jeff Crank
Jeff Crank
Republican · CO · Representative
Votes with party: 94.8% (640 recorded votes)

Full profile: /officials/C001137

Source: Congress.gov · FEC

Cosponsors (0)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Financial Services.

2026-08-13

Source: Congress.gov

Committee Activity

Currently in

Plain-English Summary

Plain-English summary pending. Introduced on 2026-08-13. Check back soon — summaries are generated as bills progress through Congress.

Subjects

Finance and Financial Sector

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 10084 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 10084 To require that certain payments to Federal student loans to the buyer of a home be classified as a financial concession by the Federal National Mortgage Association and the Federal Home Loan Mortgage Association. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES August 13, 2026 Mr. Crank introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To require that certain payments to Federal student loans to the buyer of a home be classified as a financial concession by the Federal National Mortgage Association and the Federal Home Loan Mortgage Association. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``First Time Homebuyer Debt Reduction Act''. SEC. 2. CLASSIFICATION OF STUDENT LOAN PAYMENT AS A FINANCIAL CONCESSION. (a) In General.--Not later than 30 days after the enactment of this Act, the Director of the Federal Housing Finance Agency shall require the enterprises to classify a covered payment as a financial concession with respect to an interested party contribution in the sale of a home, subject to the limitation described in subsection (b). (b) Limitation.--A portion of a covered payment that is in excess of $25,000 shall be classified as a sales concession. (c) Definitions.--In this Act: (1) Enterprises.--The term ``enterprises'' means-- (A) the Federal National Mortgage Association; and (B) the Federal Home Loan Mortgage Association. (2) Covered payment.--The term ``covered payment'' means a payment towards a student loan, as defined in Title IV of the Higher Education Act, by an interested party to the buyer of a home. (3) Home.--Newly constructed principal residence of the buyer of a home. <all>
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