Housing Financial Literacy Act of 2026

[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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