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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4861 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 4861

 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.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             June 23, 2026

Mr. Peters (for himself and Mr. Cornyn) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 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.

    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 ``Housing Financial Literacy Act of 
2026''.

SEC. 2. DISCOUNT ON MORTGAGE INSURANCE PREMIUM PAYMENTS FOR FIRST-TIME 
              HOMEBUYERS WHO COMPLETE FINANCIAL LITERACY HOUSING 
              COUNSELING PROGRAMS.

    The second sentence of subparagraph (A) of section 203(c)(2) of the 
National Housing Act (12 U.S.C. 1709(c)(2)(A)) is amended--
            (1) by inserting before the comma the following: ``and such 
        program is completed before the mortgagor has signed an 
        application for a mortgage to be insured under this title or a 
        sales agreement''; and
            (2) by striking ``not exceed 2.75 percent of the amount of 
        the original insured principal obligation of the mortgage'' and 
        inserting ``be 25 basis points lower than the premium payment 
        amount established by the Secretary under the first sentence of 
        this subparagraph''.
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Housing Financial Literacy Act of 2026

Full Text
