TSTA Signs Letter of Support for Helper Act

TSTA has signed onto the letter of support for the bi-partisan Homes for Every Local Protector, Educator, and Responder (HELPER) Act in Congress.

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H.R.3170/S.1514, the HELPER Act, would create a home loan program for first responders and educators that would function similarly to the Department of Veterans Affairs (VA) home loan program. The HELPER Act
was first introduced in the 117th Congress as H.R.3172/S.2981 and garnered the cosponsorship of 106 members of Congress and the endorsement of over 300 national, state, and local organizations and elected officials.

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Specifically, the HELPER Act would:

• Create a first-time homebuyer home loan program under the Federal Housing Administration (FHA) for
  law enforcement officers, firefighters, emergency medical technicians (EMT), paramedics, and pre-K-12
  teachers;
• Eliminate a down payment requirement;
• Eliminate a monthly mortgage insurance premium (MIP) requirement;
• Require an upfront mortgage insurance (UFMI) premium, determined by the Secretary of Housing and
  Urban Development, to ensure the solvency of the program; and
• Require the program to be reauthorized after five years.