Bill would allow teachers and first responders to access a mortgage with no down payment


MPs introduced a bill that would give teachers and first responders a no-down mortgage option. (iStock)

Members of the House of Representatives recently introduced bipartisan legislation that would empower teachers and first responders – including law enforcement, firefighters, emergency medical technicians (EMTs) and paramedics – access to a mortgage without having to pay a down payment.

The Homes for Every Local Protector, Educator, and Responder (HELPER) Act aims to help these people buy a home in today’s competitive housing market. The bill has been referred to the House Financial Services Committee, which has yet to hold a margin on it.

If you want to know the mortgage options available to you, check out an online marketplace like Credible to compare lenders.

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“The ongoing pandemic has long brought to light some of America’s most important unsung heroes,” said Representative John Katko (RN.Y.). paramedics and firefighters, we have seen these professionals faithfully support our nation during the pandemic and sometimes put their own lives at risk to carry out their duties.

“Sadly, these heroes, who make great sacrifices for our communities, are often unable to find affordable housing in the communities they serve,” he said. “This is why I am proud to work with Republicans and Democrats to bring forward the Homes Act for Every Local Advocate, Educator and Sponsor (HELPER).”

The legislation :

  • Create a one-time use home loan program under the Federal Housing Administration (FHA)
  • Eliminates the down payment requirement
  • Eliminates the requirement for a monthly mortgage insurance premium (MIP)

The legislation is modeled after the VA Home Loan program, which provides benefits to United States military veterans. This should save qualified people about $ 90 per month on their monthly payment, in addition to lowering the initial costs of buying a home.

Many home buyers can save money on their monthly mortgage payments today by simply shopping with various lenders to compare interest rates. Visit Credible to see how much you can save.


In addition to Katko, the HELPER Act was introduced by Representatives Al Lawson (D-Fla.), John Rutherford (R-Fla.) And Bonnie Watson Coleman (DN.J.). It started on the initiative of Samuel Royer, the national director of Heroes First Home Loans, who says the bill is very likely to pass in Congress with its bipartisan support and the positivity of its goals.

If you don’t want to wait for the bill to go through the legislative process, to verify Credible to compare rates and talk to a lender about other options available to you.

The Association of American Educators (AAE), a national non-union professional association, calls on Congress to support the HELPER Act.

“Educators have always given more than is expected of them, often working long hours and spending hundreds of dollars a year to ensure that their students receive a quality education,” said the executive director from the AAE, Colin Sharkey. “Despite their commitment to their communities, too many educators in our country are struggling to afford their first home.

“Our educators have continued to rise to the challenge of providing quality education to their students, despite many challenges during the COVID-19 pandemic,” said Sharkey. “They deserve our support, and providing them with access to affordable housing is one way to ensure we honor them for their commitment to our students and our communities.

If you are thinking of buying a house, visit Credible to speak to a mortgage expert and get all your questions answered.

Have a finance-related question, but don’t know who to ask? Email the Credible Money Expert at [email protected] and your question could be answered by Credible in our Money Expert column.


About Matthew R. Dailey

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