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HR 812 101th Congress House

Homeownership Assistance Act of 1989

Official title: To authorize the insurance of certain mortgages for first-time homebuyers, and for other purposes.

Introduced: February 2, 1989 See on congress.gov
Housing and Community Development Home ownershipHousing financeInterest ratesMortgage guaranty insurance
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Mortgage loansSecondary mortgage marketVariable rate mortgage loans
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This bill died when the 101st Congress ended
It never became law before the 101st Congress (1989–1990) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 15, 1989
Referred to the Subcommittee on Housing and Community Development.
Feb 2, 1989
Referred to the House Committee on Banking, Finance + Urban Affrs.
Feb 2, 1989
Introduced in House
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 Latest action February 15, 1989

Referred to the Subcommittee on Housing and Community Development.

 Plain-English summary Congressional Research Service

Homeownership Assistance Act of 1989 - Amends the National Housing Act to create a special mortgage insurance program for first-time homebuyers.

Defines "first-time homebuyer" as an individual who or whose spouse has not owned a principal residence during the 18 months prior to a Federal Housing Administration (FHA) insured home purchase.

Authorizes downpayment reductions.

Authorizes an FHA demonstration program to insure 100 percent of a home's value for a first-time homebuyer.

Authorizes FHA to insure adjustable rate mortgages with annual interest rate increases of up to two percent (currently one percent). Repeals the aggregate annual limit.

Amends the Federal National Mortgage Association Charter Act to provide for secondary market purchases of such downpayment mortgage loans.

Amends the Deficit Reduction Act of 1984 to exempt such loans from specified offset debt collection provisions.

Requires the Secretary of Housing and Urban Development to submit annual program reports to the Congress.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 6
All 6 Democratic 3
D
Wyden, Ron
Oregon · May 9, 1989
KLECZKA, GERALD
· Mar 15, 1989
BEREUTER, DOUGLAS
· Feb 2, 1989
GEPHARDT, RICHARD
· Feb 2, 1989
 D
Mfume, Kweisi
Maryland · Feb 2, 1989
 D
Pallone, Frank
New Jersey · Feb 2, 1989
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 812: Homeownership Assistance Act of 1989. 101st Congress. Open America. https://openamerica.io/bill/101-HR-812/
MLA
"H.R. 812: Homeownership Assistance Act of 1989." 101st Congress, 2026, Open America, https://openamerica.io/bill/101-HR-812/.
Bluebook (legal)
H.R. 812, 101st Cong. (2026), https://openamerica.io/bill/101-HR-812/.
Markdown link
[H.R. 812: Homeownership Assistance Act of 1989](https://openamerica.io/bill/101-HR-812/)
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