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Mortgage Insurance Freedom: End Premiums at 78% Loan-to-Value

This act aims to ease the financial burden on homeowners with government-insured mortgages. Once you've paid off 78% of your home's value, you will no longer be required to pay annual mortgage insurance premiums. This could lead to significant savings for your household budget, but it only applies to new mortgages originated after the act becomes law.
Key points
Annual mortgage insurance premiums will stop once 78% of the home's value is paid off.
Potential financial savings for homeowners with new mortgages.
The act applies to mortgages endorsed for insurance by the Secretary of Housing and Urban Development after its enactment date.
An exception exists: if the Mutual Mortgage Insurance Fund's capital ratio falls below 2%, the rule may be suspended for certain mortgages.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_5508
Sponsor: Rep. Meeks, Gregory W. [D-NY-5]
Process start date: 2025-09-19
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Mortgage Insurance Freedom Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_5508.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-09-19.

What are the main provisions?

Key points include:

  • Annual mortgage insurance premiums will stop once 78% of the home's value is paid off.
  • Potential financial savings for homeowners with new mortgages.
  • The act applies to mortgages endorsed for insurance by the Secretary of Housing and Urban Development after its enactment date.
  • An exception exists: if the Mutual Mortgage Insurance Fund's capital ratio falls below 2%, the rule may be suspended for certain mortgages.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Meeks, Gregory W. [D-NY-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Real Estate Economy