WASHINGTON, D.C. – Today, Representatives John Rutherford (FL-05) and Bonnie Watson Coleman (NJ-12) reintroduced H.R. 3170, the Homes for Every Local Protector, Educator, and Responder (HELPER) Act. The bipartisan HELPER Act establishes a new home loan program under the Federal Housing Administration (FHA) to make homeownership more accessible to teachers and first responders by eliminating some of the barriers for first-time homebuyers, like a down payment and monthly mortgage insurance premiums. Senators Marco Rubio, Jon Ossoff, and Sherrod Brown are leading companion legislation in the U.S. Senate.
First responders and educators, like many other Americans, have faced financial challenges related to the COVID-19 pandemic, record high inflation, and the rising cost of real estate. The HELPER Act aims to make homeownership more accessible to these public servants who have dedicated their careers to serving their communities.
“Many of our nation’s first responders and educators face financial obstacles when trying to buy a home in today’s competitive housing market, often making it difficult for them to live in the community they serve. The HELPER Act makes homeownership a reality for teachers, paramedics, EMTs, law enforcement officers, and firefighters,” said Congressman Rutherford. “Modeled after the successful VA home loan program, the HELPER Act eliminates requirements for a down payment and a monthly mortgage insurance premium, removing some of the barriers preventing first responders and educators from purchasing a home.”
“The nation continues to lean on the sacrifices and bravery of everyday, hardworking Americans – first responders, nurses, America’s educators, and other public-sector employees – it’s time for us to recognize their needs and create opportunities for them to own homes,” said Congresswoman Watson Coleman. “It’s time we eliminated the barriers that make it so difficult for our teachers and frontline workers to secure housing, and the HELPER Act does just that.”
“Representative Rutherford has been our champion from the beginning,” said Samuel P. Royer, the original champion behind the HELPER Act and founder and president of Salute Home Loans. “He works hard on behalf of our first responders, and his longtime leadership on the HELPER Act proves that. We are hugely grateful for Representative Rutherford’s continued support, as well as the support from Representative Bonnie Watson Coleman and Senators Marco Rubio, Jon Ossoff, and Sherrod Brown.”
The HELPER Act:
- Creates a one-time-use home loan program through FHA for law enforcement officers, firefighters, Emergency Medical Technicians (EMT), paramedics, and pre-K through 12 teachers who are first-time homebuyers;
- Eliminates a down payment requirement on a mortgage;
- Removes a monthly mortgage insurance premium (MIP) requirement;
- Requires an upfront mortgage insurance premium (UFMIP) to ensure the solvency of the program.
The HELPER Act has also received support from the following organizations: American Association of State Troopers (AAST), American Federation of Teachers (AFT), Federal Law Enforcement Officers Association (FLEOA), Fraternal Order of Police (FOP), International Association of EMTs and Paramedics (IAEP), Major Cities Chiefs Association (MCCA), Major County Sheriffs of America (MCSA), National Association of Police Organizations (NAPO), National Troopers Coalition (NTC), and the International Association of Fire Fighters (IAFF) among others.
Original source can be found here.
