Downpayment Toward Equity Act of 2025
House Bill Would Give First-Generation Homebuyers Up to $20,000 in Downpayment Aid
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Creates a HUD program to give downpayment and closing-cost help to first-generation, first-time homebuyers buying a primary home.
- Help could be up to the greater of $20,000 or 10% of the purchase price, and can be combined with other assistance programs.
- Eligibility is based on income (up to 120% of local median income, or 140% in high-cost areas) and a self-attested first-generation status.
- Buyers must complete approved homeownership counseling before signing a purchase contract or loan application, with an alternate option if counselors are booked.
- If the buyer stops living in the home within 5 years, they may have to repay part of the help; no repayment after 5 years of living there.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
2 articles
Harvard Report: Black Homeownership Gains Have Halted
Rep. Maxine Waters highlighted the Downpayment Toward Equity Act as a critical tool to address the racial wealth gap. The legislation would provide $100 billion in direct assistance to help first-time, first-generation homebuyers overcome high downpayment requirements.
JD Vance's False claim that Harris wants to give immigrants in the US illegally $25000 for homes
Fact-check clarifies that the proposed $20,000 to $25,000 grants for first-generation homebuyers, as outlined in the Downpayment Toward Equity Act, are targeted at citizens and legal residents meeting specific income and first-generation criteria.
Source Information
Document Type
Congressional Bill
Official Title
Downpayment Toward Equity Act of 2025
Data Sources
Sponsor
Cosponsors
(20)Analysis generated by AI. Always verify with official sources.