U.S. Sens. Marco Rubio (R-FL) and Jon Ossoff (D-GA) introduced legislation in the Senate to establish a new home loan program for law enforcement officers, firefighters, medical first responders, and teachers.
The Homes for Every Local Provider, Educator, and Responder, or HELPER, Act, would create a new home loan assistance program administered by the Federal Housing Administration for law enforcement officers, firefighters, Emergency Medical Technicians (EMT), paramedics, and pre-K-12 teachers who have served for at least four years in their roles. Further, it would eliminate a mortgage down payment requirement as well as a monthly mortgage insurance premium requirement. It is only for one-time use by eligible individuals.
“First responders and teachers work tirelessly to serve our communities, and they have faced incredibly difficult circumstances over the past two years,” Rubio said. “As housing prices continue to skyrocket, our bill would help ensure that teachers and first responders can own a home in the communities they dutifully serve.”
The program would include a 3.6 percent upfront mortgage insurance premium to help fund the program.
“With this bipartisan bill, I’m working across the aisle to support Georgia’s teachers, first responders, and police officers by making homeownership more affordable for public servants who teach our kids and protect our families,” Ossoff said.
Companion legislation was introduced in the House by Reps. John Rutherford (R-FL), Al Lawson (D-FL), Bonnie Watson Coleman (D-NJ), and John Katko (R-NY).
“America succeeds when we invest in those who serve our communities,” Rutherford said. “This includes our teachers, paramedics, EMTs, law enforcement officers, and firefighters. The HELPER Act extends a home loan benefit to these community heroes, offering them assistance to purchase a home when it might not otherwise be possible.”