Zinke cosponsors housing act to support police officers, first responders and teachers

(WASHINGTON, DC) Today, Congressman Ryan Zinke cosponsored H.R. 3170, the bipartisan Homes for Every Local Protector, Educator, and Responder (HELPER) Act. The HELPER Act establishes a new home loan program under the Federal Housing Administration (FHA) to make homeownership more accessible to K-12 school teachers, first responders, law enforcement officers, and other essential public servants by eliminating some of the barriers for first-time homebuyers including high down payments and monthly mortgage insurance premiums. 

“In Montana the housing crisis is very real – both in terms of affordability and availability – and unfortunately our first responders, educators, and law enforcement officers are being priced out of the communities they serve,” said Congressman Zinke. “The available homes are overvalued and buyers suffer from record high interest rates and high construction costs for new homes due to inflation. Higher listing price means big down payments and big monthly payments on mortgage insurance for middle-class buyers on top of high interest and monthly payments. While we need a whole-scale change in leadership at the presidential level to get interest rates and inflation down, I’m proud to sponsor the HELPER Act to eliminate some barriers and get teachers, firefighters and police officers into the door of home ownership.” 

“Bozeman Police Officers selflessly serve our community every day by performing essential, dangerous, and difficult tasks. They do it to ensure the highest quality of life possible for our community members, knowing they may not be able to afford a home due to the extremely high cost of living here,” said Bozeman Police Department Chief Jim Veltkamp. “The HELPER ACT would be a substantial step forward in making home ownership more affordable for them so they can continue serving this community.   Thank you to Rep. Ryan Zinke for stepping forward to support this important bill.”

Montana is one of the worst states for overvalued homes with a median list price of $649,000 according to a recent analysis. Paired with record high inflation, first responders and educators are facing unprecedented financial challenges. The HELPER Act aims to make homeownership more accessible to these public servants who have dedicated their lives and careers to serving their fellow Montanans

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.

During a Congressional hearing on May 2, Congressman Zinke grilled HUD Secretary Adrianne Todman on diverting $4.5 million from Montana Housing Authority reserves. The reserves are used for financial assistance for renters in Montana who are currently grappling with an extreme affordability and availability issue thanks to decades-high inflation and skyrocketing housing costs in Montana. According to the MHA, rescinding the reserves cost roughly 576 Montana families access to housing assistance. Zinke urged the administration to remedy the issue immediately so existing contracts can continue to move forward, and the MHA can resume regular business of providing relief. Read more here.

###