WASHINGTON — President Donald Trump signed an executive order on Thursday to lower the costs of single-family homeownership and mortgages, the White House said.
The order directs the director of the Federal Housing Finance Agency to create a pilot program to cancel borrowers’ mortgage insurance premiums proactively once they have satisfied their equity requirements based on the current market value, according to a White House fact sheet. The White House said the program will eliminate a large monthly expense for qualifying Americans across the country.
The agency’s director was also directed to reduce refinancing costs by expanding a title insurance waiver pilot into a permanent program. The fact sheet said a permanent program would allow more borrowers to use cost-friendly alternatives to title insurance and would reduce the closing costs of refinancing and the monthly expenses tied to homeownership.
The order establishes a Task Force on Manufactured Housing Innovation. The White House said the task force is meant to increase the quality of factory-built housing and lower the cost of building a home by facilitating modern manufacturing methods in the production of housing eligible for federal housing programs.
The secretaries of Agriculture and Veterans Affairs were directed to reduce interest rates on single-family home loans made by their respective departments.
The fact sheet placed the order in a wider housing agenda. It said Trump signed an executive order in January 2026 preventing large institutional investors from buying single-family homes that could otherwise be purchased by families, and directed Fannie Mae and Freddie Mac that month to purchase $200 billion in mortgage-backed securities to drive down borrowing costs.
It also listed a March 2026 executive order reducing regulatory burdens that drove up mortgage costs, and said the administration had eliminated burdensome insurance requirements for federally backed mortgages. The Working Families Tax Cuts doubled the investment limit for Fannie and Freddie’s Low Income Housing Tax Credit, the fact sheet said.
The White House said unnecessary regulations and outdated mortgage processes have made homeownership unaffordable and driven up closing costs. The fact sheet gave no start date for the mortgage insurance pilot program.
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