Lets homeowners transfer their mortgage to a new home
This bill would let people move their current home loan's interest rate and terms to a new house. It would require Fannie Mae and Freddie Mac, two government-backed housing groups, to buy and support these 'portable mortgages.' This could make moving easier and possibly save people money by avoiding a new loan.
Today, people usually cannot move their current home loan's interest rate and terms to a new house when they move. This bill would require Fannie Mae and Freddie Mac to support loans that let homeowners transfer their interest rate, terms, and balance to a new home. This transfer would need to happen within 90 days of selling their old home.
HR 10028 · 119th Congress · AI Summary by gemini-2.5-flash · 10/10
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