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Homeownership Assistance: Grants for First-Time Buyers

This act establishes a grant program to help first-time homebuyers cover costs associated with purchasing a home, such as down payments or closing costs. The aim is to make homeownership more accessible, especially for lower-income individuals. Grants can also be used for essential pre-occupancy repairs.
Key points
The program offers up to $30,000 in grants for eligible home purchases.
Grants are available to first-time homebuyers whose household income does not exceed a specified limit (typically 120% of the local median income).
Funds can be used for down payments, closing costs, interest rate reduction, or essential pre-occupancy repairs.
Recipients must complete a financial counseling program on homeownership responsibilities.
If the home is not occupied as a primary residence for 60 months, a proportional amount of the grant may need to be repaid, with certain exceptions.
The financial assistance received will not be considered taxable income.
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Status: Introduced
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Additional Information
Print number: 119_HR_2064
Sponsor: Rep. Leger Fernandez, Teresa [D-NM-3]
Process start date: 2025-03-11
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Home of Your Own Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2064.

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 2025-03-11.

What are the main provisions?

Key points include:

  • The program offers up to $30,000 in grants for eligible home purchases.
  • Grants are available to first-time homebuyers whose household income does not exceed a specified limit (typically 120% of the local median income).
  • Funds can be used for down payments, closing costs, interest rate reduction, or essential pre-occupancy repairs.
  • Recipients must complete a financial counseling program on homeownership responsibilities.
  • If the home is not occupied as a primary residence for 60 months, a proportional amount of the grant may need to be repaid, with certain exceptions.
  • The financial assistance received will not be considered taxable income.
What is the specific legal status?

The current status is Introduced.

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. Leger Fernandez, Teresa [D-NM-3].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Real Estate Benefits Taxes