Rep. Juan Vargas' Homeownership for Dreamers Act Passes out Of House Financial Services Committee

Statement

Today, Rep. Vargas' Homeownership for Dreamers Act (H.R. 3154) passed out of the Committee on Financial Services. The bill aims to clarify that Deferred Action for Childhood Arrivals (DACA) beneficiaries are eligible for Federal Housing Administration home loans, including those backed by Fannie Mae or Freddie Mac, and U.S. Department of Agriculture.

"We cannot allow mortgage lenders to continue to discriminate against Dreamers. Like any other young person contributing to our country, Dreamers deserve the opportunity to own a home," said Rep. Juan Vargas. "I would like to thank Chairwoman Maxine Waters for her support of the Homeownership for Dreamers Act and the Committee on Financial Services' unwavering commitment to our immigrant families and communities of color. I look forward to the House's consideration of my bill."

H.R. 3154 clarifies that eligibility of certain mortgages with Federal credit enhancement may not be conditioned on the status of the mortgagor as a DACA beneficiary if all other eligibility criteria are satisfied. This bill has been endorsed by Mortgage Bankers Association; The Leadership Conference on Civil and Human Rights; Asian Real Estate Association of America; Center for Responsible Lending; National Association of Hispanic Real Estate Professionals; National Fair Housing Alliance; UnidosUS; and United We Dream.

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