Housing Financial Literacy Act of 2026
Sponsored By: Senator Peters, Gary C. [D-MI]
Introduced
Summary
0.25 percentage-point mortgage insurance discount for first-time FHA buyers who complete housing counseling. The Housing Financial Literacy Act of 2026 would amend the National Housing Act so first-time homebuyers who finish a required financial literacy housing counseling program before signing a mortgage application or a sales agreement get a 25 basis point reduction in the FHA single-family mortgage insurance premium relative to the standard premium set by the Secretary.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Lower FHA mortgage insurance for first-time buyers
You would pay 0.25 percentage points (25 basis points) less in FHA mortgage insurance on a Title II single-family loan. You would need to be a first-time homebuyer. You would need to finish a housing counseling program before signing a mortgage application or a sales agreement. The discount equals 0.25% of your original loan amount and applies one time at origination. The bill does not specify an effective date or a sunset.
Sponsors & CoSponsors
Sponsor
Peters, Gary C. [D-MI]
MI • D
Cosponsors
Sen. Cornyn, John [R-TX]
TX • R
Sponsored 6/23/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov