The HELPER Act promises to open up housing opportunities and give the real estate business a much-needed lift  by Justin Goldstein for HousingWire

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A firefighter and his pregnant wife were unable to buy a two-bedroom home in the neighborhood where they grew up; two teachers had dashed dreams of owning their bungalow near the school where they work. These are just two examples of the heartbreaking scenarios you hear about in the real estate business.

It’s no secret that we’re in the throes of a housing affordability crisis—anybody in the real estate trenches has felt it, in the form of stalled deals, frustrated clients, and collapsed sales.

That’s where the HELPER Act comes in. The anagram stands for Homes for Every Local Protector, Educator, and Responder, modeled after the popular and successful VA home loan program. Endorsed by the Fraternal Order of Police, the International Association of Fire Fighters, the International Association of EMTs and Paramedics, and the National Education Association, this bipartisan bill could eliminate the down payment and monthly mortgage insurance requirements for teachers, firefighters, police officers, EMTs, and paramedics who are looking to purchase their first home.

For agents, brokers, developers, and mortgage professionals, the HELPER Act isn’t just good policy, it’s great business—for a number of reasons. 

First and foremost, the HELPER Act makes everyday real estate deals easier to close by removing the most significant barrier to entry. When viable prospects are looking to purchase a home, more often than not, it’s the down payment that gets in the way. Even many fully employed couples eager to plant roots in a community can’t find the cash to make a purchase work. The HELPER Act opens the door for these buyers and gets them pre-approved, which makes homeownership possible. 

The HELPER Act also supports families with median incomes—precisely the buyers most affected by today’s high prices and homes in short supply. It expands the pool of qualified buyers in areas where entry-level homes cost $300,000 to $500,000. It’s a critical stimulant for growth in new housing communities and promises to help developers, agents, and lenders where they need it most.  

The word is spreading, but not fast enough. The HELPER Act was introduced in the House of Representatives and the Senate and is supported by the Association of Independent Mortgage Experts, National Association of REALTORS, and the National Association of Mortgage Brokers. It has already earned strong bipartisan support but has not yet achieved the widespread recognition it needs to revolutionize our industry. 

At a recent Mortgage Bankers Association advocacy day, only one of twenty mortgage professionals in the room had heard of the bill. This is unfortunate because the HELPER Act is one of the few proposals in Washington that can make a difference and improve our industry. 

It’s common for real estate professionals to look to Washington and ask, “What are they doing about housing?” 

But the real question is: What are we doing? 

The HELPER Act allows us to advocate for good, educate our clients, push local associations to support the bill, and make this initiative a reality. Our community thrives when housing is accessible, and our industry thrives when more people can buy homes. Supporting the HELPER Act is a chance to align our values with our bottom line.

Let’s not wait for the housing affordability crisis to fix itself. Let’s support the buyers, lenders, agents, and developers who need a more flexible and viable open real estate market. 

Justin Goldstein is the founder and president of PR73. This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: zeb@hwmedia.com.

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