New GOP Proposal Would Create Portable Mortgages

Posted: August 8, 2026 | Source: kean.house.gov

Congressman Tom Kean, Jr. (Republican, NJ) has introduced the Making Ownership Viable for Everyone (MOVE) Act, legislation that would make portable mortgages accessible, allowing homeowners to transfer their existing mortgage rate, term, and balance to a new property. The MOVE Act would require Fannie Mae and Freddie Mac, entities that buy mortgages from lenders, to begin purchasing portable mortgages. Kean said, “Making portable mortgages accessible will encourage families to sell their home that is no longer a fit for them, while simultaneously adding more homes to the market to address the housing crisis.”