summary
Introduced
06/13/2024
06/13/2024
In Committee
06/13/2024
06/13/2024
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
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.
AI Summary
This bill, the Housing Financial Literacy Act of 2024, requires the Secretary of Housing and Urban Development (HUD) to discount Federal Housing Administration (FHA) single-family mortgage insurance premium payments for first-time homebuyers who complete a financial literacy housing counseling program before signing a mortgage application or sales agreement. Specifically, the bill amends the National Housing Act to set the mortgage insurance premium for these homebuyers at 25 basis points (0.25%) lower than the standard premium established by the Secretary.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 06/13/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/4542/all-info |
| BillText | https://www.congress.gov/118/bills/s4542/BILLS-118s4542is.pdf |
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