Contact Congress about H.R. 892: Mortgage Rate Reduction Act
HR 892 lets FHA, VA, and USDA insure or guarantee second mortgages so buyers can assume existing lower-rate first mortgages. Each agency must also publish a public list of every covered property's address and loan origination date within one year.
Modern Action explains legislation in plain English, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
Mortgage Rate Reduction Act is a House bill in committee. The latest recorded action: Referred to the Subcommittee on Economic Opportunity.
Latest action on H.R. 892: Referred to the Subcommittee on Economic Opportunity.
Who this affects: The bill primarily affects homebuyers, homeowners with existing government-backed mortgages, and the three federal agencies that administer these loan programs. It also touches lenders, housing researchers, and local governments that use housing data for planning.
Why this matters: When interest rates rise, buyers pay significantly more over the life of a loan. This bill creates a path for buyers to keep an existing lower-rate mortgage and fill the price gap with a second mortgage backed by the same federal agency. It could reshape how government-backed homes change hands and how much information about those loans is publicly available.
Key provisions in H.R. 892
- FHA would be allowed to insure second mortgages on properties where it already insures the first mortgage, through changes to the National Housing Act.
- VA loan rules would change so a housing loan can be secured by a second lien, but only if VA also insures or guarantees the first lien on that property.
- Congress states that USDA should guarantee second mortgages on eligible homes where it already guarantees the first mortgage under the Housing Act of 1949.
- The stated purpose of these second mortgages is to help new buyers assume the existing first mortgage on a property.
- FHA must publish a searchable public website within one year listing every property with an FHA-insured section 203 mortgage, including the address and origination date.
How Modern Action helps you take action on H.R. 892
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
Questions people ask about H.R. 892
- What is H.R. 892?
- HR 892 lets FHA, VA, and USDA insure or guarantee second mortgages so buyers can assume existing lower-rate first mortgages. Each agency must also publish a public list of every covered property's address and loan origination date within one year.
- How do I support or oppose H.R. 892?
- Choose support, oppose, or ask for changes on Modern Action. The action flow drafts the message for you and keeps the wording tied to this bill.
- Who should I contact about H.R. 892?
- Modern Action uses your location to route the action to the congressional offices relevant to the bill and your representation.
- Can Modern Action explain H.R. 892 before I act?
- Yes. Modern Action gives you a plain-English summary, current status, and action context before you send anything.
