HB 304 Virginia House of Delegates · 2026 Regular Session

Conventional home mortgage loans; assumption provisions.

Summary

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.

Bill status signed all 5 stages cleared

Introduction

Jan 2026

Committee Review

Feb 2026

House of Delegates Passage

Mar 2026

Senate Passage

Mar 2026

Signed into Law

Apr 2026

Introduced Jan 9, 2026 Signed Apr 13, 2026

Maddy AI version diff · 2 comparisons

What changed between versions

Engrossed → Enrolled · 3 edits · Mar 3, 2026

MINOR

The bill was finalized for signature (Enrolled) after passing the House. The substantive policy content regarding mortgage assumptions remains the same, but the text was cleaned of editorial marks and formatting artifacts present in the draft version.

TECHNICAL

Removed draft-specific headers, committee references, and bracketed editorial notes that were used to track changes during the legislative process.

Corrected a line break in the disclosure timing requirement, changing 'before the completion of the within three days' to the clear requirement 'within three days of receiving a completed loan application'.

Removed a bracketed placeholder 'located in the Commonwealth' from the eligibility criteria, as the location requirement is now stated clearly without brackets.

Floor votes · Senate Feb 25, 2026 · House of Delegates Feb 4, 2026

How they voted

39–0

Passed

Total votes 39

Feb 25, 2026

D Democratic20

20 Yea

100% Yea

R Republican19

19 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Apr 13, 2026

Signed into law

Approved by Governor-Chapter 962 (effective 7/1/2026)

executive

Mar 3, 2026

Upper · Passed

Signed by President

upper

Mar 3, 2026

Lower · Passed

Signed by Speaker

lower

Mar 3, 2026

Lower · Passed

Bill text as passed House and Senate (HB304ER)

lower

Feb 26, 2026

Upper · Passed

Passed Senate (40-Y 0-N 0-A)

upper

Feb 25, 2026

Upper · Passed

Passed by for the day Block Vote (Voice Vote)

upper

Feb 23, 2026

Upper · Passed

Reported from Commerce and Labor (15-Y 0-N)

upper

Feb 5, 2026

Committee

Referred to Committee on Commerce and Labor

upper

Feb 4, 2026

Lower · Passed

Passed House (98-Y 0-N 0-A)

lower

Feb 4, 2026

Lower · Passed

Read third time and passed House (97-Y 1-N 0-A)

lower

Feb 3, 2026

Introduced

Engrossed by House as amended

lower

Feb 3, 2026

Lower · Passed

committee amendments agreed to

lower

Jan 29, 2026

Lower · Passed

Reported from Labor and Commerce with amendment(s) (22-Y 0-N)

lower

Jan 27, 2026

Lower · Passed

Subcommittee recommends reporting with amendment(s) (9-Y 0-N)

lower

Jan 27, 2026

Lower · Passed

House subcommittee offered

lower

Jan 19, 2026

Committee

Assigned HCL sub: Subcommittee #1

lower

Jan 9, 2026

Committee

Referred to Committee on Labor and Commerce

lower

1 primary · 0 co-sponsors