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Downpayment Assistance for First-Generation Homebuyers to Boost Homeownership

This act aims to make it easier for individuals whose parents did not own a home, as well as those with foster care experience, to purchase their first home. The program offers financial assistance for acquisition costs, such as down payments and closing costs, helping to reduce inequalities in access to homeownership. Citizens can receive up to $20,000, or up to $25,000 in certain cases, which can significantly lower initial financial burdens.
Key points
Financial assistance up to $20,000 (or $25,000 in specific cases) for down payments and home acquisition costs.
Program targets individuals whose parents did not own a home or who were in foster care, promoting access to homeownership.
Mandatory housing counseling before purchase to prepare buyers for homeownership responsibilities.
Potential repayment of assistance if the home ceases to be the primary residence within 5 years of purchase, with some exceptions.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_4495
Sponsor: Rep. Waters, Maxine [D-CA-43]
Process start date: 2021-07-16
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Downpayment Toward Equity Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4495.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-07-16.

What are the main provisions?

Key points include:

  • Financial assistance up to $20,000 (or $25,000 in specific cases) for down payments and home acquisition costs.
  • Program targets individuals whose parents did not own a home or who were in foster care, promoting access to homeownership.
  • Mandatory housing counseling before purchase to prepare buyers for homeownership responsibilities.
  • Potential repayment of assistance if the home ceases to be the primary residence within 5 years of purchase, with some exceptions.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Waters, Maxine [D-CA-43].

What is the latest detailed status?

The latest detailed status is: Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 23.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

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