HB304
Conventional home mortgage loans; assumption provisions.
Status:
Passed
Latest Action:
March 10, 2026
Governor's Action Deadline 11:59 p.m., April 13, 2026
Chief Patron:
Rip Sullivan (D)
Session:
2026 Regular Session
Summary
As Passed House of Origin. Conventional home mortgage loans; assumption provisions.
Requires any lender for any conventional home mortgage loan secured on or after July 1, 2026, by a mortgage or deed of trust on owner-occupied residential real estate located in the Commonwealth to include provisions in such loan to allow for any of the existing borrowers to purchase the property ... (More) interest of another borrower on the loan by assuming the seller's portion of the mortgage in connection with a decree of annulment or divorce if the assuming borrower qualifies for the underlying loan, as determined by the lender. (Less)-
Bill History
- 01/09/2026 - House: Prefiled and ordered printed; Offered 01-14-2026 26101895D
- 01/09/2026 - House: Referred to Committee on Labor and Commerce
- 01/19/2026 - House: Assigned HCL sub: Subcommittee #1
- 01/19/2026 - House: Fiscal Impact Statement from State Corporation Commission (HB304)
- 01/23/2026 - House: Placed on Labor and Commerce Agenda
- 01/27/2026 - House: House subcommittee offered
- 01/27/2026 - House: Subcommittee recommends reporting with amendment(s) (9-Y 0-N)
- 01/28/2026 - House: Placed on Labor and Commerce Agenda
- 01/29/2026 - House: Reported from Labor and Commerce with amendment(s) (22-Y 0-N)
- 02/02/2026 - House: Read first time
- 02/03/2026 - House: Read second time
- 02/03/2026 - House: committee amendments agreed to
- 02/03/2026 - House: Engrossed by House as amended
- 02/04/2026 - House: Read third time and passed House (97-Y 1-N 0-A)
- 02/04/2026 - House: Reconsideration of passage agreed to by House
- 02/04/2026 - House: Passed House (98-Y 0-N 0-A)
- 02/05/2026 - Senate: Constitutional reading dispensed (on 1st reading)
- 02/05/2026 - Senate: Referred to Committee on Commerce and Labor
- 02/05/2026 - House: Fiscal Impact Statement from State Corporation Commission (HB304)
- 02/23/2026 - Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/25/2026 - Senate: Rules suspended
- 02/25/2026 - Senate: Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A)
- 02/25/2026 - Senate: Passed by for the day Block Vote (Voice Vote)
- 02/26/2026 - Senate: Read third time
- 02/26/2026 - Senate: Passed Senate (40-Y 0-N 0-A)
- 03/03/2026 - House: Enrolled
- 03/03/2026 - House: Bill text as passed House and Senate (HB304ER)
- 03/03/2026 - House: Signed by Speaker
- 03/03/2026 - Senate: Signed by President
- 03/05/2026 - House: Fiscal Impact Statement from State Corporation Commission (HB304)
- 03/10/2026 - House: Enrolled Bill communicated to Governor on March 10, 2026
- 03/10/2026 - Governor's Action Deadline 11:59 p.m., April 13, 2026
