Proposed MOVE Act Seeks to Expand Access to Portable Mortgages

Federal lawmakers recently introduced legislation that could change how homeowners approach moving while carrying an existing mortgage. On August 3, 2026, Representative Thomas Kean Jr. introduced the Making Ownership Viable for Everyone (“MOVE”) Act, a proposal designed to expand the availability of portable mortgages in the United States. Unlike a traditional mortgage tied to a particular property, a portable mortgage would allow a qualifying homeowner to transfer the interest rate, remaining balance, and other existing loan terms to a new home. The proposal is intended to address the so-called “lock-in effect,” in which homeowners with favorable mortgage rates may be reluctant to move because doing so would require obtaining new financing at prevailing market rates.

Rather than requiring lenders to offer portable mortgages directly, the MOVE Act would direct Fannie Mae and Freddie Mac to purchase qualifying portable loans from lenders, aiming to expand the availability of portable mortgages in the mortgage market. Portable mortgages differ from assumable mortgages in that a portable mortgage follows the original borrower to a new property, whereas an assumable mortgage remains with the original property and may be assumed by a new borrower. Several practical questions remain, however, including how borrowers would finance the difference when purchasing a more expensive home and how lenders would address borrower qualification, property valuation, servicing, and other requirements associated with transferring a loan to a replacement property.

Proponents argue that greater access to portable mortgages could give homeowners more flexibility to move, encourage additional home sales, increase housing inventory, and generate greater activity in the residential real estate market. Critics caution that portability would not address the underlying housing shortage and could create affordability concerns by giving homeowners with favorable existing mortgage rates greater purchasing power than first-time buyers and other purchasers financing at current rates.

The MOVE Act remains in the early stages of the federal legislative process and would not automatically make existing mortgages portable. However, if the Act is enacted and successfully implemented, the legislation could have significant implications for homeowners, mortgage lenders, real estate professionals, and the broader housing market by reducing a major financial barrier associated with moving. Homeowners and businesses involved in residential real estate should continue monitoring the proposal as it moves through Congress.

For more information regarding proposed changes to mortgage lending and other legal developments affecting the residential real estate market, please contact the qualified attorneys at Rock, Fusco & Connelly, LLC.