HR 10084 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
First Time Homebuyer Debt Reduction Act
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.
Summary
- Requires Fannie Mae and Freddie Mac to classify student loan payments made by third parties on behalf of home buyers as financial concessions.
- Caps the classification as a financial concession at $25,000, with amounts above that classified as sales concessions.
- Applies to payments toward federal student loans and newly constructed principal residences.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Crank, Jeff [R-CO-5] (R-CO)
Money behind the sponsor
Top reported contributors to Jeff Crank’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $86,200
- NOR'WOOD FOUNDATION $13,200
- CLASSIC HOMES $9,900
- GE JOHNSON HOLDINGS $6,600
- BANCROFT INVESTMENTS $6,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Jeff Crank → · Outside spending →
Actions (2)
- Aug 13, 2026 Referred to the House Committee on Financial Services. · house
- Aug 13, 2026 Introduced in House
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
August 13, 2026
Mr. Crank introduced the following bill; which was referred to the Committee on Financial Services
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. <all>
Comments