People keep hearing they might move their low mortgage rate to a bigger house. Here’s what that idea actually means, where it stands, and what you can do today.
If you’ve heard that you could “take your 3% rate to a bigger house,” you’re not alone. In late 2025, FHFA Director Bill Pulte said the Trump administration was “actively evaluating” portable mortgages, along with related ideas like more assumable loans and a 50-year mortgage. In August 2026, a House bill (the MOVE Act) put portability into legislation.
What exists today is different from what people hope for. A portable mortgage is not a standard U.S. product. You generally cannot transfer your current low-rate conventional loan to another home. Treat headlines as discussion of a possible future product, not a green light to wait on a move you already need.
Key takeaways
- A portable mortgage would let you keep your existing rate, remaining balance, and terms when you change homes, instead of refinancing into a new loan at today’s rates.
- Most existing U.S. conventional loans have due-on-sale clauses and live in mortgage-backed securities (MBS). Those old 3–4% loans generally cannot be rewritten as portable after the fact.
- Portability is common in places like Canada and the UK. It is not standard in the United States today.
- H.R. 10028, the MOVE Act, would push Fannie Mae and Freddie Mac to buy and securitize portable conventional mortgages. As of mid-September 2026, it is introduced, has one sponsor, no cosponsors, no hearing, and a very low near-term chance of becoming law.
- FHFA has not launched a portable-mortgage program. Later 2026 FHFA activity has focused on other items, such as PMI cancellation outreach, not a portable product.
- Experts say portability could ease lock-in and free some listings, but it would not add housing supply and could lift prices if demand jumps. Investors may want a higher rate on portable loans because those loans can last longer when rates rise.
- Assumable mortgages are a different tool: the buyer takes over the seller’s loan. Some FHA and VA loans are already assumable; conventional assumability is limited.
- Bottom line: you cannot port your current low-rate conventional mortgage today. Do not delay a needed move waiting for this.
How a portable mortgage would work
In simple terms, you’d sell Home A and buy Home B while keeping the same loan rate and remaining balance, as long as the loan stayed secured by a home the whole time. There would be no gap between sale and purchase where the lender loses its collateral.
Example. Say you owe $280,000 at 3.25% on a home you sell for $450,000. You buy a larger home for $620,000.
- The portable loan of $280,000 at 3.25% would move to the new house.
- The $170,000 gap ($620,000 − $450,000, ignoring costs for simplicity) would need cash, a second loan at today’s rate, or some mix of both.
- If you instead bought a cheaper home for $400,000, sale proceeds would typically pay down the portable balance so the loan still fits the new property.
If the new home costs more, the old rate does not cover the whole purchase. If it costs less, the loan shrinks with the sale. In every case, the debt must stay tied to a property.
Portable vs. assumable vs. a 50-year mortgage
These ideas often get mixed together. They are not the same.
- Portable mortgage: The seller (moving homeowner) keeps their own rate and balance on a new home. Helps existing owners move without fully losing a low rate.
- Assumable mortgage: The buyer takes over the seller’s loan. Helps buyers inherit a lower rate; seller must qualify and cooperate.
- 50-year mortgage: New loan with a longer term. Lowers monthly payment by stretching amortization; does not move an old rate.
Some FHA and VA loans already allow assumption under set rules. Conventional loans are rarely assumable. Portability would be a new conventional product path, not a tweak you can apply to the note you already signed.
Status update: FHFA evaluation and the MOVE Act
In November 2025, FHFA Director Bill Pulte said the administration was “actively evaluating” portable mortgages (and also mentioned assumable mortgages and a 50-year mortgage idea). That signaled interest and study, not a live program.
On August 3, 2026, Rep. Thomas Kean Jr. (R-NJ) introduced H.R. 10028, the Making Ownership Viable for Everyone Act (MOVE Act). The bill would require Fannie Mae and Freddie Mac to start purchasing and securitizing portable conventional mortgages within 180 days of enactment. It also describes a transfer window of 90 days after selling the original home.
As of mid-September 2026:
- Introduced and referred to the House Financial Services Committee
- One sponsor, no cosponsors
- No hearing reported
- GovTrack-style outlook: very low chance of enactment in the near term (about 2%)
FHFA has not launched a portable-mortgage product. Public FHFA work later in 2026 has centered on other priorities, not portability.
Why approval is hard
Even with political interest, several frictions stand in the way.
Legal and contract design. Most conventional mortgages include due-on-sale language. Lenders and investors expected the loan to end or be paid off when the house sold. Rewriting that expectation for old loans is different from designing a new product going forward.
MBS and investor pricing. Huge volumes of existing loans were sold into mortgage-backed securities. Investors price prepayment and duration carefully. If portable loans stick around longer when rates rise, investors may demand a higher coupon. One Urban Institute–style estimate puts that premium around 40 basis points. A “portable” loan might not price like a plain 30-year fixed.
The equity gap. Portability does not erase the difference between your remaining balance and a more expensive home. Buyers still need cash or a second lien at market rates. That second piece can be costly and harder to underwrite.
Housing supply. Easing lock-in could bring more existing homes to market. It does not build new units. If demand rises faster than listings, prices can climb. First-time buyers may see little direct benefit.
None of these issues means portability is impossible. They do explain why a soundbite is easier than a working national product.
What this means for you
If you’re upsizing. A future portable loan could keep your old rate on part of the new purchase, with a second loan or cash covering the rest. That could help, but it is not available on typical conventional loans today. Run the numbers with today’s rates and with a blended-rate scenario so you know what “good enough” looks like without waiting on Congress.
If you’re downsizing. Portability could matter if you want to keep a low rate on a smaller home and pay the loan down with sale proceeds. Again, that is a possible future feature, not a switch you can flip on an existing conventional note.
If you’re a first-time buyer. Portability mainly helps people who already have a low-rate loan. Assumable FHA or VA loans (when available) are the closer existing tool for inheriting someone else’s rate. Do not assume national portability will soon improve entry-level affordability.
FAQ
Can I take my 3% rate to a bigger house right now?
No. For most conventional mortgages, you cannot port the rate today. You would typically pay off the old loan when you sell and get a new loan at current rates.
Did Trump pass this?
No. Evaluating an idea and introducing a bill are not the same as enacting a portable-mortgage program. As of mid-September 2026, there is no live FHFA portable product and no enacted MOVE Act.
What is the MOVE Act?
H.R. 10028, the Making Ownership Viable for Everyone Act, introduced August 3, 2026 by Rep. Thomas Kean Jr. It would require Fannie Mae and Freddie Mac to purchase and securitize portable conventional mortgages within 180 days of enactment, with a 90-day transfer window after selling the original home.
Would this apply to the mortgage I already have?
Probably not for older loans already in MBS with due-on-sale clauses. Any real program would more likely apply to new portable products designed going forward, not a blanket rewrite of every 3–4% loan from recent years.
What if the new house costs more than my remaining balance?
You would keep the portable balance at the old rate and cover the gap with cash, a second loan at today’s rate, or both. The cheap rate would not finance the entire higher purchase price.
How is this different from an assumable loan?
With portability, you keep your loan when you move. With assumption, the buyer takes over the seller’s loan. Some FHA and VA loans are already assumable; conventional assumption is limited.
Would portable loans have the same rate as regular 30-year loans?
Not necessarily. Because portable loans may last longer when rates rise, investors may require a higher rate. Estimates in that direction have been on the order of about 40 basis points, but actual pricing would depend on final product design.
Would this lower home prices?
Not automatically. It could free some locked-in sellers, which helps inventory. It could also increase demand from owners who want to move. It does not add new housing supply. Prices could rise if demand outruns listings.
Should I wait to sell until this passes?
No. The MOVE Act’s near-term odds are very low, and FHFA has not launched a program. If you need to move for work, family, or finances, plan around today’s market and products.
Do FHA, VA, or USDA loans work this way?
Portability as described in the MOVE Act discussion is about conventional loans purchased by Fannie Mae and Freddie Mac. FHA and VA already have assumption pathways in many cases. Treat those as separate rules; do not assume a portable conventional product covers them.
Could FHFA do this without Congress?
FHFA can influence Fannie Mae and Freddie Mac policy within its authority, and officials have talked about evaluating portability. A durable national product still has to clear legal, investor, and operational hurdles. The MOVE Act shows Congress is also being asked to force the issue. Either path is uncertain; neither equals a product you can use today.
What’s the realistic timeline?
As of mid-September 2026: no launched FHFA portable program, and H.R. 10028 is early-stage with roughly a 2% near-term enactment outlook. Treat any timeline measured in months as speculative. Watch Congress.gov for H.R. 10028 and official FHFA announcements rather than social media claims.
What to do now
- Decide based on your life, not the bill. If the move is needed, price it with current rates and today’s loan options.
- Ask your lender what you actually have. Confirm whether your loan is conventional, FHA, or VA, whether it has due-on-sale language, and whether any assumption path exists for a buyer.
- Model a blended payment. If you must move up in price, compare (a) a full new mortgage at market rate with (b) keeping a lower balance somehow plus a second loan. That shows what portability would be trying to approximate.
- If you’re selling to a buyer who wants a low rate, ask about assumable FHA/VA options where they apply. That is a real tool in some cases today.
- Track the bill, don’t bet the house on it. Check Congress.gov for H.R. 10028 status. Ignore “it’s done” posts unless a program is actually live.
- Talk to a licensed mortgage professional and, if needed, a real estate attorney before changing your plans around a future product.
Disclaimer
This article is for general information only. It is not legal, tax, or lending advice. Legislation and agency policy can change. For the current status of H.R. 10028, check Congress.gov. For your own loan, rely on your note, your servicer, and qualified professionals.
One-line summary: You cannot port a typical low-rate conventional mortgage to a new house today—treat portability as a debated future product, not a reason to put a needed move on hold.