Housing Financial Literacy Act of 2025
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
The Housing Financial Literacy Act of 2025 aims to help first-time homebuyers improve their financial knowledge and secure more affordable mortgages. It requires the Department of Housing and Urban Development (HUD) to offer a discount on FHA mortgage insurance premiums to those who successfully complete a HUD-approved financial literacy housing counseling program before applying for a mortgage. This discount is intended to make homeownership more accessible to first-time buyers. The bill modifies existing regulations to implement this incentive.
Key provisions
- Requires HUD to offer a discount on FHA mortgage insurance premiums.
- The discount applies to first-time homebuyers.
- Homebuyers must complete a HUD-approved financial literacy housing counseling program.
- The program must be completed before the mortgage application or sales agreement.
- The discount amount is 25 basis points lower than the standard premium.
Who is affected
- First-time homebuyers
- Federal Housing Administration (FHA) borrowers
- Housing counseling agencies
- Department of Housing and Urban Development (HUD)
Notable changes
- Modifies the National Housing Act to include a new requirement for financial literacy counseling.
- Establishes a specific discount rate for mortgage insurance premiums for eligible homebuyers.
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
34 on record
Primary sponsor
Cosponsors
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours