First Look for First-time Homebuyers Act of 2026

15-day first-look for first buyers

If enacted, this bill would give first-time homebuyers a 15-day exclusive first-look to buy certain foreclosed or agency-owned homes. It would apply to 1–4 unit residential properties owned or foreclosed by the FHA, FHFA, Fannie Mae, Freddie Mac, or USDA. Homes in the Good Neighbor Next Door Program would be excluded. The 15-day window would start on the listing date. The property would be shown on a public website for first-time buyers with a visible countdown. During the window, the seller would set the price at fair market value. That value would be based on an independent appraisal or broker price opinion done within 60 days of listing. If no independent valuation is available in that 60-day window, the seller could use a publicly disclosed valuation model. Covered agencies could not bundle properties for sale during the 15 days. They could extend the period if it would increase the chance a first-time buyer purchases. Each covered agency would have to issue final rules within one year that include a way to verify first-time buyer status. The rules would take effect 30 days after they are issued.