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119-hr-10084Committee
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First Time Homebuyer Debt Reduction Act

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Summary

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This bill requires Fannie Mae and Freddie Mac to classify payments made by third parties toward a homebuyer's federal student loans as a financial concession for mortgage underwriting purposes, up to $25,000 per transaction. Payments exceeding $25,000 would be classified as sales concessions. The change would allow homebuyers to count third-party student loan assistance as a down payment or closing cost contribution without it being treated as a gift or affecting debt-to-income calculations in the same way.

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Bill details

Congress
119
Bill type
hr
Introduced
August 13, 2026
Sponsor
Jeff CrankRCO
Last action
August 13, 2026— Referred to the House Committee on Financial Services.

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