H.R. 2162: Housing Financial Literacy Act of 2019

CBO Score


Date of Report

Mon August 5th, 2019

Legislation Details

116th Congress

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.

Sponsor: Rep. Joyce Beatty — D — OH

Modifies the discount given by the Federal Housing Administration (FHA) on single-family mortgage-insurance premium payments for first-time homebuyers who complete a financial-management counseling program. Under current law, the maximum premium amount for such homebuyers is 2.75% of the original insured principal obligation of the mortgage (compared to 3% for other homebuyers). The bill instead requires that the premium amount for such homebu...

View the full vote history of this bill on GovTrack.us.

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