[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 10084 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                               H. R. 10084

To require that certain payments to Federal student loans to the buyer 
   of a home be classified as a financial concession by the Federal 
   National Mortgage Association and the Federal Home Loan Mortgage 
                              Association.


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                    IN THE HOUSE OF REPRESENTATIVES

                            August 13, 2026

  Mr. Crank introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
To require that certain payments to Federal student loans to the buyer 
   of a home be classified as a financial concession by the Federal 
   National Mortgage Association and the Federal Home Loan Mortgage 
                              Association.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``First Time Homebuyer Debt Reduction 
Act''.

SEC. 2. CLASSIFICATION OF STUDENT LOAN PAYMENT AS A FINANCIAL 
              CONCESSION.

    (a) In General.--Not later than 30 days after the enactment of this 
Act, the Director of the Federal Housing Finance Agency shall require 
the enterprises to classify a covered payment as a financial concession 
with respect to an interested party contribution in the sale of a home, 
subject to the limitation described in subsection (b).
    (b) Limitation.--A portion of a covered payment that is in excess 
of $25,000 shall be classified as a sales concession.
    (c) Definitions.--In this Act:
            (1) Enterprises.--The term ``enterprises'' means--
                    (A) the Federal National Mortgage Association; and
                    (B) the Federal Home Loan Mortgage Association.
            (2) Covered payment.--The term ``covered payment'' means a 
        payment towards a student loan, as defined in Title IV of the 
        Higher Education Act, by an interested party to the buyer of a 
        home.
            (3) Home.--Newly constructed principal residence of the 
        buyer of a home.
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