Portable Mortgages in Edmond: What the MOVE Act Would Change

Market & Policy · Edmond, Oklahoma

The MOVE Act, Explained

could you take your rate with you?

Thomas Lundy, REALTOR®|September 3, 2026|7 min read

Bill

H.R. 10028

Introduced

Aug 3, 2026

Status

In Committee

Is it law?

Not yet

Half the sellers I sit down with in Edmond say a version of the same sentence: I would move tomorrow, but I am not giving up my 3% rate. For the first time, there is a bill in Congress written for exactly that problem.

On August 3, 2026, Representative Tom Kean Jr. of New Jersey introduced H.R. 10028, the Making Ownership Viable for Everyone Act, or the MOVE Act. It was referred to the House Committee on Financial Services the same day. The whole thing is two pages long, and the operative part is one sentence.

Here is what it says, what it would change, what it would not, and where it actually stands right now.

What the bill actually says

The MOVE Act would require Fannie Mae and Freddie Mac to begin purchasing and securitizing portable mortgages within 180 days of the bill becoming law. That is the mandate. It applies to conventional loans that already meet each agency's rules for purchase and securitization.

A portable mortgage, as the bill defines it, is one where the lender permits the borrower to carry the existing interest rate, terms, and remaining balance over to a new property, as long as the new purchase happens within 90 days of selling the home the loan was originally secured by.

In plain terms: instead of paying off your loan at closing and taking out a new one at today's rate, you would move the loan to the next house and keep the rate.

Why this matters in Edmond

A lot of the move-up inventory in this market (Town Square, Legacy at Covell, the pockets off Coltrane) is owned by families who bought or refinanced between 2020 and 2022. They have outgrown the floor plan. They want the bigger lot, the fourth bedroom, the shorter drive to Deer Creek. And they are staying put because the monthly payment math on a new loan erases the upgrade.

That is what has kept listing counts thin for three years. If portability ever becomes a real product a lender in Oklahoma City will write, it unlocks the middle of the market: the seller who is also a buyer. More listings, more choices, and a healthier trade-up ladder for everyone below them.

What it does not do

This is the part worth being careful about, because the headline is doing a lot of work the bill text does not.

01

It does not make your current loan portable.

The bill directs the agencies to buy loans designed to allow portability going forward. It says nothing retroactive about the note you signed in 2021, and it conditions portability on what the lender permits.

02

It does not require any lender to offer the product.

It creates a secondary-market home for portable loans. Whether your bank or credit union writes one is still their call, and pricing will reflect the risk they are taking.

03

It does not solve the balance problem.

You carry the remaining balance. If you owe $310,000 and you are buying at $520,000, the gap is a second loan at today's rate, or cash. Portability lowers the cost of moving up. It does not eliminate it.

04

It does not touch FHA, VA, or USDA loans.

Those are already assumable, which is a different mechanism. A qualified buyer takes over the loan on the house you are selling. You cannot carry it with you.

05

It is not law, and it has not been voted on.

It is a two-page bill sitting in committee. Most bills that get this far get no further. Watch it; do not plan around it.

Where it stands

Aug 3, 2026

Introduced in the House by Rep. Tom Kean Jr. (R-NJ-7) and referred to the Committee on Financial Services the same day.

Aug 2026

Coverage picks up across agent and lender blogs; no committee hearing scheduled, no markup, no floor action.

Sept 3, 2026

Still in committee. The House is back in session this month. The next real signal would be a Financial Services hearing or a cosponsor list starting to grow.

If enacted

Fannie Mae and Freddie Mac get 180 days to begin buying and securitizing portable mortgages. Lender products, guidelines, and pricing would follow after that.

Straight answers

Can I use this now?

No. It was introduced August 3, 2026 and has not been voted on. Nothing about your current mortgage changes today.

Would my 2021 loan qualify?

Unclear, and I would not count on it. The bill is forward-looking and leaves existing contracts to lender participation and agency rules that do not exist yet.

What is the 90-day rule?

To keep the rate, the replacement purchase would have to happen within 90 days of selling the original home. In a tight market, that is a real timing risk to plan for.

So should I wait to sell?

Not on account of a two-page bill in committee. Decide on the house, the payment, and the timeline in front of you, and let me watch the bill for you.

Update log

Last checked September 3, 2026

Sept 3, 2026

No change. Bill remains referred to House Financial Services with no hearing on the calendar.

Aug 3, 2026

Introduced by Rep. Kean and referred to committee. Text published: two pages, 180-day mandate, 90-day portability window.

Next

Watching for a Financial Services hearing, a Senate companion bill, or FHFA comment. I will post here first.

Stay in the loop

I will tell you when it moves

Add your name and I will email you the moment H.R. 10028 has real news, plus what it would mean for your street in Edmond. If you would rather just talk it through, that works too.

Get bill updates

Sources: bill text and status for H.R. 10028 (119th Congress) as published on Congress.gov and GovTrack, current as of September 3, 2026. This post is general market commentary, not legal, tax, or lending advice. Talk to a licensed loan officer about your specific situation.

Thomas Lundy

Realtor® · West + Main Homes

thomas@westandmainok.com · 405-555-0148
Edmond resident, Town Square HOA board member, and the guy who reads the two-page bills so you do not have to.