119 HR 10084 IH: First Time Homebuyer Debt Reduction Act U.S. House of Representatives 2026-08-13 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I119th CONGRESS2d SessionH. R. 10084IN THE HOUSE OF REPRESENTATIVESAugust 13, 2026Mr. Crank introduced the following bill; which was referred to the Committee on Financial ServicesA BILLTo 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.

1.

Short title

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

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.