Congress·In Committee·H.R. 3526

Retirement Savings for First-Time Homebuyers

Uplifting First-Time Homebuyers Act of 2025

Legislative Progress

House

Senate

President

Law

This bill would allow people buying their first home to take more money out of their retirement accounts without paying a penalty. Currently, the law only lets you take out $10,000 for this purpose, but this change would raise that limit to $50,000.
The plan aims to help people who are struggling to save enough for a down payment or closing costs. Since home prices have risen significantly, the current $10,000 limit often isn't enough to make a real dent in the cost of a new home.
This change would apply to tax years starting after December 31, 2024. It is designed for first-time buyers, which generally includes anyone who has not owned a home in the last two years.

2 milestones2 actions

May 20, 2025House

Referred to the House Committee on Ways and Means.

May 20, 2025

Introduced in House

1 bill

Uplifting First-Time Homebuyers Act of 2025

Sep 18 — Read twice and referred to the Committee on Finance.

Document Type

Congressional Bill

Official Title

Uplifting First-Time Homebuyers Act of 2025

Bill NumberHR 3526

Congress119th Congress

ChamberHouse of Representatives

Latest ActionReferred to the House Committee on Ways and Means.

(45)

D: 29R: 16

Congress.gov

Official legislative information

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