# 119-hr-7160: First Home Affordability Act

119-hr-7160, First Home Affordability Act, is a 119th Congress bill sponsored by Rep. Krishnamoorthi, Raja [D-IL-8] (D-IL); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-7160
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-7160
- Congress: 119
- Title: First Home Affordability Act
- Status: introduced
- Introduced: 2026-01-20
- Sponsor: Rep. Krishnamoorthi, Raja [D-IL-8] (D-IL)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Creates a refundable First-Time Homebuyer Tax Credit** that would help eligible first-time buyers cover part of a home purchase. The credit links eligibility to local area income and price limits and allows lenders to buy and advance the credit to borrowers. - Families and first-time buyers would be eligible for a refundable credit equal to 2% of the purchase price, with a typical cap of $25,000 and a $12,500 cap for married individuals filing separately. The credit generally applies across a five-year period beginning in the purchase year. - Teachers, childcare workers, and first responders would get a special rule that makes the credit payable in the purchase year and sets the applicable amount at 10% of the purchase price. - Lenders could elect the credit, must register and disclose amounts, and can receive advance payments through a Treasury program. The bill includes recapture rules that reclaim part of the credit if the home is sold or stops being a principal residence during the credit period and adds reporting and math-error checks to limit improper claims.

## Provisions PRIA read

- Refundable first‑time homebuyer credit: mixed, high. If enacted, you would be able to claim a refundable First‑Time Homebuyer Credit equal to 10% of your purchase price spread over five years (about 2% a year). The credit would be capped at $25,000 per purchase ($12,500 if married filing separately). You would have to be a first‑time buyer at least a…
- Option to get credit as cash at closing: mixed, medium. If enacted, you would be able to elect by the purchase date to have an eligible mortgage lender claim your credit and pay you the credit amount at or before closing. Lenders would have to register with the Treasury/IRS, disclose the credit value and any payment, and would be eligible for Treasury a…

## Related bills

- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-3077: Agriculture Resilience Act of 2025
- 119-hr-7977: Energy Bills Relief Act
- 119-hr-7973: Momnibus Act
- 119-hr-3971: Domestic Workers Bill of Rights Act
- 119-hr-562: BLUE Pacific Act

## Sources
- [119-hr-7160 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/7160)

## Related
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-3077: Agriculture Resilience Act of 2025](https://policyrisk.com/legislation/119-hr-3077)
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-3971: Domestic Workers Bill of Rights Act](https://policyrisk.com/legislation/119-hr-3971)
- [119-hr-562: BLUE Pacific Act](https://policyrisk.com/legislation/119-hr-562)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-7160 (as of 2026-04-21).