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119-hr-2064119th CongressWALLET

Home of Your Own Act of 2025

Sponsored By: Representative Leger Fernandez, Teresa [D-NM-3]

Introduced

Summary

A national homeownership assistance grant program would provide one-time federal grants to help eligible people buy and occupy homes. HUD would run the program and direct funds to States and Indian tribes to fund down payments, closing costs, interest-rate reductions, and necessary pre-occupancy repairs.

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  • Families and prospective homeowners: Eligible people could get a one-time grant up to $30,000 to cover a down payment, closing costs, actions to reduce interest rates, and repairs or disability accommodations before moving in.
  • States and Indian tribes: Grants would flow to States and to Indian tribes with a 3 percent reservation of any annual appropriations for tribes under the Native American Housing Assistance and Self-Determination Act of 1996 (NAHASDA) section 302, and remaining funds would be allocated to States by formula.
  • Recipients and program durability: Recipients who stop using the home as their primary residence within 60 months must repay a prorated amount, with hardship and low-sale-proceeds exceptions. The Secretary may place liens to recapture funds for future grants and the assistance is excluded from gross income for tax purposes.

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Bill Overview

Analyzed Economic Effects

6 provisions identified: 3 benefits, 1 costs, 2 mixed.

New $6.7 billion homebuyer grants

This bill would require HUD to set up a homebuyer grant program within one year. It would authorize about $6.7 billion each year for 2026–2030. HUD would reserve 3% for Indian tribes and could use up to 3% for training. States would get the rest by formula to help eligible first-time buyers.

Up to $30,000 for buying costs

You could get a one-time grant up to $30,000. It could cover your down payment, closing costs, interest‑rate buy downs, and needed repairs or disability modifications before you move in. You could combine this help with other aid, and the bill says these funds would not count as a prohibited source under FHA rules.

No income tax on this grant

This grant would be excluded from federal income tax. You would not report it as taxable income if the bill becomes law. That could lower your tax bill on the help you receive.

Repay grant if you move early

You would need to live in the home as your primary residence for 60 months after you can legally occupy it. If you leave early, you could owe back part of the grant equal to the months not lived there divided by 60. The State or tribe could place a lien to get the money back. HUD could waive payback for hardship or if an arm’s‑length sale brings in less than your purchase price plus closing costs.

Who qualifies and what homes count

To qualify, you would need to be a first-time buyer and under local income limits. In most areas the cap is 120% of area median income; in high-cost areas HUD could allow up to 150%. On tribal land, the 120% cap uses the higher of U.S. or local median income. The home must be 1–4 units (including condo, co‑op, manufactured home, or an accessory unit) and meet listed mortgage standards. You would also need to finish an approved homebuyer counseling course before getting help.

State and tribal rules for grants

States and tribes would have to file annual plans on how they will run the program. States would send at least 25% of funds through CDFIs. States could use up to 7% for admin; tribes up to 10%. HUD could allow contracts with approved nonprofits, CDFIs, or tribal housing entities. Tribes could prefer their members and members of other tribes.

Sponsors & CoSponsors

Sponsor

Leger Fernandez, Teresa [D-NM-3]

NM • D

Cosponsors

  • Rep. Sykes, Emilia Strong [D-OH-13]

    OH • D

    Sponsored 10/5/2026

  • Rep. Costa, Jim [D-CA-21]

    CA • D

    Sponsored 3/11/2025

  • Rep. García, Jesús G. "Chuy" [D-IL-4]

    IL • D

    Sponsored 3/11/2025

  • Rep. Garcia, Robert [D-CA-42]

    CA • D

    Sponsored 3/11/2025

  • Rep. Frankel, Lois [D-FL-22]

    FL • D

    Sponsored 3/11/2025

  • Rep. Johnson, Henry C. "Hank" [D-GA-4]

    GA • D

    Sponsored 3/11/2025

  • Rep. McCollum, Betty [D-MN-4]

    MN • D

    Sponsored 3/11/2025

  • Del. Norton, Eleanor Holmes [D-DC-At Large]

    DC • D

    Sponsored 3/11/2025

  • Rep. Ramirez, Delia C. [D-IL-3]

    IL • D

    Sponsored 3/11/2025

  • Rep. Scanlon, Mary Gay [D-PA-5]

    PA • D

    Sponsored 3/11/2025

  • Rep. Stansbury, Melanie A. [D-NM-1]

    NM • D

    Sponsored 3/11/2025

  • Rep. Latimer, George [D-NY-16]

    NY • D

    Sponsored 3/24/2025

  • Rep. Hayes, Jahana [D-CT-5]

    CT • D

    Sponsored 7/14/2025

  • Rep. Goldman, Daniel S. [D-NY-10]

    NY • D

    Sponsored 11/4/2025

Roll Call Votes

No roll call votes available for this bill.

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