What If You Could Take Your Mortgage Rate With You? A New Bill Could Change the Way Homeowners Move

What If You Could Take Your Mortgage Rate With You? A New Bill Could Change the Way Homeowners Move

By Kelly Fullick, REALTOR® · Coldwell Banker Realty · Sarasota, FL

If you've owned a home for the last several years, there's a good chance you've had this thought:

"I'd love to move... but I'm not giving up my mortgage rate."

And I don't blame you.

Across Sarasota and Manatee Counties, I talk to homeowners who have outgrown their homes, want to downsize, would love to move closer to family, or simply want something different. But many are sitting on mortgage rates in the 2%, 3%, or 4% range.

Selling means buying again. And buying again means taking today's mortgage rate.

For some homeowners, that's enough to stop the conversation altogether.

But a newly introduced bill in Congress is proposing something that could potentially change that equation:

What if your mortgage could move with you?

Meet the MOVE Act

On August 3, 2026, the Making Ownership Viable for Everyone Act, or MOVE Act, was introduced in the U.S. House of Representatives.

The concept is called a portable mortgage.

Under the proposal, Fannie Mae and Freddie Mac would be required to begin purchasing and securitizing qualifying portable mortgages. These mortgages would allow a homeowner, with lender permission and subject to the eventual program requirements, to transfer the interest rate, terms and remaining balance of a mortgage from one property to another.

Yes, you read that correctly.

Instead of your mortgage necessarily ending when you sell your house, the concept is that qualifying borrowers could potentially take that mortgage with them to their next home.

And as a Realtor, I find the idea fascinating because it addresses one of the biggest conversations happening around kitchen tables right now.

Imagine This...

Let's say you purchased your Sarasota home several years ago and currently owe $350,000 at a 3% interest rate.

Your family has grown, and now you'd really like to buy a $600,000 home.

The problem?

You don't want to surrender that 3% mortgage.

Today, selling generally means paying off that loan and obtaining new financing for your next purchase at the prevailing rate.

A portable-mortgage system could work very differently.

Instead of automatically leaving that mortgage behind when you sell, you could potentially transfer the remaining $350,000 mortgage balance, rate and terms to your new property.

You'd still have to solve the financing for the difference between the portable balance and the new home's purchase price, and the bill leaves important details like underwriting and implementation to be worked out.

But that's what makes this proposal so interesting.

Your low mortgage rate might no longer have to be the thing keeping you in a house that no longer fits your life.

This Could Address the "Golden Handcuffs" of Real Estate

Over the last few years, homeowners with exceptionally low mortgage rates have faced an unusual dilemma.

They have equity.

They may have strong incomes.

They may want to move.

But financially, their existing mortgage is incredibly valuable.

So they stay.

I've seen this firsthand in our local market. There are homeowners who would consider selling if replacing their mortgage didn't mean dramatically changing their monthly housing costs.

The MOVE Act's sponsor says that is exactly the problem the legislation is intended to address: giving homeowners more freedom to move while potentially encouraging more existing homes to come onto the market.

For a market like Sarasota, that's worth paying attention to.

Think About Who This Could Help

The possibilities are exciting.

• The empty nesters who have wanted to downsize but can't justify giving up their low rate.
• The growing family that desperately needs another bedroom.
• The couple who bought their starter home in 2020 or 2021 and is ready for their next chapter.
• The homeowner who wants to move from another state to Florida.
• Or even someone here in Sarasota who would happily sell their current home and move across town if the financial equation made more sense.

A portable mortgage wouldn't eliminate the cost of moving or solve every affordability challenge.

But it could remove one very large obstacle from the decision.

And every homeowner who decides they're finally comfortable selling potentially puts another home into the available inventory for the next buyer.

That's why I'm watching this closely.

Before You Get Too Excited...

There is one very important disclaimer.

The MOVE Act is not law.

It was introduced on August 3, 2026, and remains early in the legislative process. The proposal would have to advance through Congress and ultimately be signed into law before it could take effect.

There are also significant details that would need to be worked out regarding qualification, underwriting, additional financing, mortgage-backed securities and exactly which loans could participate.

And perhaps the biggest question for homeowners reading this:

Would your existing 2%, 3% or 4% mortgage qualify?

We don't know yet.

The current proposal would require Fannie Mae and Freddie Mac to begin purchasing portable mortgages, but homeowners should not assume that passage would automatically make every existing conventional mortgage portable.

That distinction will be incredibly important as this proposal develops.

Still, This Is a Conversation Worth Having

For years, much of the housing conversation has focused on getting mortgage rates back down.

This proposal asks a completely different question:

What if we could make some mortgage rates portable instead?

That's a fascinating shift.

Because for homeowners sitting on historically low rates, the problem isn't necessarily whether they can sell.

It's whether selling makes financial sense.

Portable mortgages could potentially give some homeowners another option.

And more options are something I'm always interested in seeing for buyers and sellers.

Sarasota Homeowners: Keep This One on Your Radar

We're still at the beginning of this story.

There is no portable-mortgage program to apply for today, and I would never recommend making a real estate decision based on legislation that hasn't passed.

But this is exactly the type of housing development I believe homeowners should know about before it becomes mainstream news.

I'll be following the MOVE Act as it works its way through Congress, especially any changes regarding existing mortgages and whether homeowners with today's low-rate loans could eventually participate.

Because if you've been telling yourself...

"I'd move if I could keep my mortgage rate."

For the first time, there is proposed federal legislation specifically exploring that possibility.

And that is absolutely worth watching.

Want to talk through your specific situation?

I'm Kelly Fullick, a Sarasota native and REALTOR® with Coldwell Banker Realty. I help buyers and sellers make clear-headed decisions in the Sarasota/Manatee market — no pressure, just honest guidance.

📞 941-260-7770 📧 Kelly@kellyfullick.com 🌐 KellyFullick.com

Serving Sarasota and Manatee County.

This article is for informational purposes only and is not financial, lending or legal advice. H.R. 10028 is proposed legislation and has not become law. Mortgage eligibility and program requirements would depend upon any final legislation and subsequent implementation.