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119-s-2719119th CongressWALLET

LIFT Homebuyers Act of 2025

Sponsored By: Senator Warner, Mark R. [D-VA]

Introduced

Summary

Expand access to affordable, long-term, fixed-rate mortgages for low- and moderate-income, first-time, and first-generation buyers. The LIFT Homebuyers Act of 2025 would create a government-wide program and LIFT HOME Funds at the Federal Housing Administration and the USDA Rural Housing Service to back, securitize, and subsidize these loans. It would let the Treasury buy securities backed by covered mortgages, let the Government National Mortgage Association guarantee those securities, and set pricing to keep monthly payments around 100% to 110% of comparable new 30-year loans.

Show full summary
  • Homebuyers and families: Eligible buyers include first-time and first-generation purchasers. HUD eligibility would reach incomes up to 120% of area median income, or 140% in high-cost areas, and loans would typically use a 20-year fixed term with mortgage insurance or guarantee fees capped around 4%.
  • Federal agencies and markets: HUD, USDA, GNMA, and Treasury would coordinate pricing, guarantees, and securitization to build liquidity. Treasury could buy and sell securities, transfer funds to cover purchases or losses, and reimburse designated financial institutions for agent duties.
  • Lenders and borrowers: The program requires only borrower attestations for eligibility and shields creditors who rely in good faith on those attestations from penalties. The act also authorizes the appropriations needed to run the program.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

New national homebuyer loan program

If enacted, this would create a LIFT HOME mortgage program to help eligible first-time and first-generation buyers. The program would apply to mortgages with case numbers issued on or before December 31, 2027. Each agency would get a LIFT HOME Fund and Congress could appropriate such sums as may be necessary. HUD could ask Treasury to buy and manage securities to support market liquidity. GNMA could guarantee securities backed by these program mortgages.

Loan fees, payment caps, and waivers

If enacted, covered loans' monthly principal and interest payments would have to be between 100% and 110% of a comparable new 30-year loan payment. HUD-covered loans would have mortgage insurance premiums capped at 4% of the loan balance. USDA-covered loans would have a loan guarantee fee capped at 4% of the principal. Each agency could waive those fee caps, in consultation with Treasury, if needed to protect an insurance fund's solvency.

Who can use the LIFT HOME program

If enacted, HUD applicants would qualify if household income is at or below 120% of area median income. In high-cost areas the limit would be 140% of AMI. You would need to meet the program's first-time and first-generation rules. Ownership of heir property would not count as prior ownership for first-time status. Buyers must attest to first-generation status and lenders who rely in good faith on those attestations would get protections. Each agency would run outreach and counseling about the program.

Sponsors & CoSponsors

Sponsor

Warner, Mark R. [D-VA]

VA • D

Cosponsors

  • Sen. Van Hollen, Chris [D-MD]

    MD • D

    Sponsored 9/4/2025

  • Sen. Kaine, Tim [D-VA]

    VA • D

    Sponsored 9/4/2025

  • Sen. Kim, Andy [D-NJ]

    NJ • D

    Sponsored 9/4/2025

Roll Call Votes

No roll call votes available for this bill.

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