Creates an FHA-insured mortgage program allowing eligible first-responder first-time buyers up to 100% financing, no down payment, no monthly MIP, and an adjustable up-front premium.
Introduced March 14, 2025 by John Henry Rutherford · Last progress March 14, 2025
Creates a new FHA mortgage-insurance program that helps eligible first-responder, first-time homebuyers get FHA-backed mortgages with up to 100% financing and no down payment. The program bans monthly mortgage insurance premiums for these loans, allows an adjustable up-front insurance premium above 3%, sets worker eligibility and underwriting rules, requires housing counseling, authorizes limited funding for implementation through 2032, and sunsets new commitments five years after the program begins.