HB 304: Conventional home mortgage loans; assumption provisions.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

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 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.

Sponsors

Sponsors by party (alphabetical): Democratic 1

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. April 13, 2026Approved by Governor-Chapter 962 (effective 7/1/2026)
2. March 10, 2026Governor's Action Deadline 11:59 p.m., April 13, 2026
3. March 10, 2026Enrolled Bill communicated to Governor on March 10, 2026
4. March 5, 2026Fiscal Impact Statement from State Corporation Commission (HB304)
5. March 3, 2026Signed by President
6. March 3, 2026Signed by Speaker
7. March 3, 2026Bill text as passed House and Senate (HB304ER)
8. March 3, 2026Enrolled
9. February 26, 2026Passed Senate (40-Y 0-N 0-A)
10. February 26, 2026Read third time
11. February 25, 2026Passed by for the day Block Vote (Voice Vote)
12. February 25, 2026Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A)

Showing 12 most recent of 31 actions. Full history