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Homeownership Assistance: Down Payment Loan Program

This act establishes a pilot program to help citizens purchase their first home by providing down payment assistance loans. The program targets individuals who meet specific income criteria and do not already own property. The loan is repaid upon the sale of the home, and its amount may depend on the property's appreciation.
Key points
The program offers down payment loans (3% to 20% of home purchase price) for eligible first-time homebuyers.
Loans are available to individuals with incomes not exceeding 150% of the area median income who have completed a homebuyer education course.
Loan repayment occurs upon home sale and includes the loan amount plus a share of the appreciation if the home's value increases.
Maximum loan amounts vary by cost of living in a state or Indian tribe (from $50,000 to $150,000).
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_4023
Sponsor: Rep. Carbajal, Salud O. [D-CA-24]
Process start date: 2025-06-17
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

American Dream for All Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4023.

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 2025-06-17.

What are the main provisions?

Key points include:

  • The program offers down payment loans (3% to 20% of home purchase price) for eligible first-time homebuyers.
  • Loans are available to individuals with incomes not exceeding 150% of the area median income who have completed a homebuyer education course.
  • Loan repayment occurs upon home sale and includes the loan amount plus a share of the appreciation if the home's value increases.
  • Maximum loan amounts vary by cost of living in a state or Indian tribe (from $50,000 to $150,000).
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. Carbajal, Salud O. [D-CA-24].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

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

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