# 119-s-2402: First-Time Homebuyer Tax Credit Act of 2025

119-s-2402, First-Time Homebuyer Tax Credit Act of 2025, is a 119th Congress bill sponsored by Sen. Whitehouse, Sheldon [D-RI] (D-RI); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-2402
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-2402
- Congress: 119
- Title: First-Time Homebuyer Tax Credit Act of 2025
- Status: introduced
- Introduced: 2025-07-23
- Sponsor: Sen. Whitehouse, Sheldon [D-RI] (D-RI)
- Cosponsors: 13
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**A refundable first-time homebuyer tax credit** would give qualifying first-time buyers a tax credit based on their purchase price, shaped by local income and price limits and subject to recapture rules. - Families and buyers: First-time purchasers age 18 or older would get a refundable credit equal to 10 percent of the purchase price, capped at $15,000 per home. The credit phases down based on local area median income and home price thresholds. - Lenders and markets: Buyers could elect to transfer the credit to their mortgage lender. Registered lenders must disclose the credit value, pay the purchaser the credit amount, and may tap an advance payment program for eligible loans. - Compliance and recapture: The credit would have a four-year recapture period. Recapture increases tax by 25 percent of the credit for each remaining year, with exceptions for death, qualifying military service, involuntary conversions with timely replacement, transfers incident to divorce, and certain job-related moves.

## Cosponsors (13)

- Sen. Heinrich, Martin [D-NM] (D-NM), 2025-07-23T00:00:00.000Z
- Sen. Welch, Peter [D-VT] (D-VT), 2025-07-23T00:00:00.000Z
- Sen. Smith, Tina [D-MN] (D-MN), 2025-07-23T00:00:00.000Z
- Sen. Reed, Jack [D-RI] (D-RI), 2025-07-23T00:00:00.000Z
- Sen. Baldwin, Tammy [D-WI] (D-WI), 2025-07-23T00:00:00.000Z
- Sen. Rosen, Jacky [D-NV] (D-NV), 2025-07-23T00:00:00.000Z
- Sen. Blumenthal, Richard [D-CT] (D-CT), 2025-07-23T00:00:00.000Z
- Sen. Van Hollen, Chris [D-MD] (D-MD), 2025-07-23T00:00:00.000Z
- Sen. Blunt Rochester, Lisa [D-DE] (D-DE), 2025-07-23T00:00:00.000Z
- Sen. Kim, Andy [D-NJ] (D-NJ), 2025-07-23T00:00:00.000Z
- Sen. Gallego, Ruben [D-AZ] (D-AZ), 2025-07-23T00:00:00.000Z
- Sen. Alsobrooks, Angela D. [D-MD] (D-MD), 2025-07-23T00:00:00.000Z
- Sen. Luján, Ben Ray [D-NM] (D-NM), 2025-07-28T00:00:00.000Z

## Provisions PRIA read

- Option to get credit at closing: benefit, high. The bill would let you elect to let your mortgage lender take the credit instead of you. If you elect this, the lender must give you the credit amount at purchase in cash or toward your down payment. Lenders would need to register with the Secretary and follow disclosure rules. The Secretary could…
- Tax credit for first-time buyers: benefit, high. This bill would create a refundable credit equal to 10% of your home's purchase price. The credit would be capped at $15,000, or $7,500 for married filers filing separately. After 2025, those caps would rise with inflation using 2024 as the base and rounded to $100. If your income is above 150% of…
- Repayment rule if you sell: cost, high. If enacted, you would have to repay part of the credit if you sell or stop living in the home within four years. Repayment would equal 25% of the credit times the number of years left in the four-year window. If you sell to an unrelated buyer, recapture could not exceed the gain on the sale. There…
- Eligibility and reporting for buyers: cost, low. The bill would limit who counts as a first-time buyer to those with no ownership in the prior three years. Purchases must be financed with a federally backed mortgage. You must be at least 18 on the purchase date. The IRS could require sellers and other parties to report information to verify claim…

## Related bills

- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026
- 119-s-1503: Equality Act
- 119-s-2295: Child Care for Working Families Act

## Sources
- [119-s-2402 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/2402)

## Related
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [119-s-1503: Equality Act](https://policyrisk.com/legislation/119-s-1503)
- [119-s-2295: Child Care for Working Families Act](https://policyrisk.com/legislation/119-s-2295)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-2402 (as of 2026-04-21).