HB 304 VA

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Became Law

Conventional home mortgage loans; assumption provisions. Requires any lender for any conventional home mortgage loan secured on or after July 1, 2026, by a mortgage or deed of trust on owner-occupied residential real estate located in the Commonwealth to include provisions in such loan to allow for any of the existing borrowers to purchase the property interest of another borrower on the loan by assuming the seller's portion of the mortgage in connection with a decree of annulment or divorce if the assuming borrower qualifies for the underlying loan, as determined by the lender.

• Richard C. "Rip" Sullivan, Jr. Democratic · primary

1. Jan 9, 2026 Prefiled and ordered printed; Offered 01-14-2026 26101895D · lower
2. Jan 9, 2026 Referred to Committee on Labor and Commerce · lower
3. Jan 19, 2026 Assigned HCL sub: Subcommittee #1 · lower
4. Jan 19, 2026 Fiscal Impact Statement from State Corporation Commission (HB304) · lower
5. Jan 27, 2026 House subcommittee offered · lower
6. Jan 27, 2026 Subcommittee recommends reporting with amendment(s) (9-Y 0-N) · lower
7. Jan 29, 2026 Reported from Labor and Commerce with amendment(s) (22-Y 0-N) · lower
8. Feb 2, 2026 Read first time · lower
9. Feb 3, 2026 Read second time · lower
10. Feb 3, 2026 committee amendments agreed to · lower
11. Feb 3, 2026 Engrossed by House as amended · lower
12. Feb 4, 2026 Read third time and passed House (97-Y 1-N 0-A) · lower
13. Feb 4, 2026 Reconsideration of passage agreed to by House · lower
14. Feb 4, 2026 Passed House (98-Y 0-N 0-A) · lower
15. Feb 5, 2026 Constitutional reading dispensed (on 1st reading) · upper
16. Feb 5, 2026 Referred to Committee on Commerce and Labor · upper
17. Feb 5, 2026 Fiscal Impact Statement from State Corporation Commission (HB304) · lower
18. Feb 23, 2026 Reported from Commerce and Labor (15-Y 0-N) · upper
19. Feb 25, 2026 Rules suspended · upper
20. Feb 25, 2026 Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A) · upper
21. Feb 25, 2026 Passed by for the day Block Vote (Voice Vote) · upper
22. Feb 26, 2026 Read third time · upper
23. Feb 26, 2026 Passed Senate (40-Y 0-N 0-A) · upper
24. Mar 3, 2026 Enrolled · lower
25. Mar 3, 2026 Bill text as passed House and Senate (HB304ER) · lower
26. Mar 3, 2026 Signed by Speaker · lower
27. Mar 3, 2026 Signed by President · upper
28. Mar 5, 2026 Fiscal Impact Statement from State Corporation Commission (HB304) · lower
29. Mar 10, 2026 Enrolled Bill communicated to Governor on March 10, 2026 · lower
30. Mar 10, 2026 Governor's Action Deadline 11:59 p.m., April 13, 2026 · executive
31. Apr 13, 2026 Approved by Governor-Chapter 962 (effective 7/1/2026) · executive

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Enrolled · PDF
• Enrolled · HTML
• Engrossed · PDF
• Engrossed · HTML
• Labor and Commerce Amendment · HTML
• Labor and Commerce Amendment · HTML
• Subcommittee #1 Subcommittee Amendment · HTML
• Introduced · PDF
• Introduced · HTML