Congress·In Committee·H.R. 7244

Congress proposes HUD pilot to match first-time homebuyer savings, up to $5,000 a year

First-Time Home Buyers Match Act

about 2 months ago·View on Congress.gov

Legislative Progress

House

Senate

President

Law

Key Points

Creates a 5-year HUD pilot program that matches first-time homebuyer savings for up to 20,000 people each year.
HUD would add up to 50% of what you save in a special savings account each year, capped at $5,000 per year.
To qualify, you must be a U.S. citizen, 18+, a first-time buyer, have $75,000 or less in liquid assets, and earn up to 120% of your area’s median income.
You must complete HUD-approved homeownership counseling, and the matched money can only be used for down payment, closing costs, fees, and certain needed repairs.
If you sell the home or move out within 3 years, you may have to repay some or all of the match, with the amount owed shrinking each month you stay.

HousingConsumer Protection

Impact Analysis

Personal Impact

How this policy affects specific groups of people

Negative Impacts(8)

Gig Worker

Hurts

Military Active

Hurts

Homeowner

Hurts

Immigrant

Hurts

Green Card

Hurts

Visa Holder

Hurts

Undocumented

Hurts

Child Tax Credit

Hurts

Mixed Impacts(1)

Renter

Neutral

Positive Impacts(1)

Housing Assistance

Helps

Milestones

2 milestones2 actions

Jan 27, 2026House

Referred to the House Committee on Financial Services.

Jan 27, 2026

Introduced in House

What Happens Next

Projected impacts based on AI analysis

Within 1 year after the bill becomes law

HUD sets up the pilot program and the rules for the “qualifying savings account” match

People won’t be able to sign up until HUD creates the program details (how to enroll, how accounts are verified, and how deposits happen).

As enrollment opens (after HUD launches the program)

Eligible first-time buyers start completing HUD-certified homeownership counseling to qualify

If you want the match, you’ll likely need to schedule counseling early so it doesn’t delay your homebuying timeline.

First program year after launch; then each year until the pilot ends

HUD begins making annual matching deposits for up to 20,000 participants per year

Participants who save in their qualifying account could see HUD add money (up to $5,000/year) that can later be used for down payment and closing costs.

At closing, for participants who buy a home using the funds

Home purchase using the matched funds triggers the 36-month “second mortgage” clock

After you close, you generally need to stay in the home for 3 years to avoid paying back part of the match. Each month you live there reduces what you’d owe back.

5 years after the bill becomes law

Program ends

After the end date, new matches stop. People already in the program may still have repayment/forgiveness rules tied to their home purchase, depending on HUD’s final setup.