# 119-s-5473: Homeownership Promise Act

119-s-5473, Homeownership Promise Act, is a 119th Congress bill sponsored by Sen. Merkley, Jeff [D-OR] (D-OR); status introduced; PRIA reads it as touching household money (as of 2026-10-01).

- Canonical: https://policyrisk.com/legislation/119-s-5473
- As of: 2026-10-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-5473
- Congress: 119
- Title: Homeownership Promise Act
- Status: introduced
- Introduced: 2026-09-23
- Sponsor: Sen. Merkley, Jeff [D-OR] (D-OR)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-10-01

## Summary

**Creates federal Homeownership Promise Accounts that provide large matching grants to help first-time buyers with downpayments.** It would route the accounts through community development financial institutions and set clear caps on contributions and matching funds. - Families: First-time buyers could deposit personal savings and get a 5-to-1 match from the Secretary of Housing and Urban Development, up to $50,000 in matching funds and a $60,000 cap on pre-closing balances. - Community lenders: HUD would establish and run the accounts through participating community development financial institutions, and funds in HPAs would earn interest comparable to standard savings. - Rules and use: Eligible purchases must be the buyer's principal residence, cost no more than the area's median single-family price, and buyers must complete HUD-approved housing counseling. Buyers may make emergency withdrawals of their personal contributions before closing and no more than two HPAs can fund a purchase at closing.

## Cosponsors (1)

- Sen. Wyden, Ron [D-OR] (D-OR), 2026-09-23T00:00:00.000Z

## Provisions PRIA read

- Big downpayment help for first-time buyers: mixed, high. If enacted, the bill would create Homeownership Promise Accounts you could open at participating community development financial institutions. Those institutions would pay interest comparable to their unrestricted savings accounts. For every $1 you put in, the Secretary would add $5, up to a $50,00…

## Related bills

- 119-s-891: Bipartisan Health Care Act
- 119-s-5071: Children's Safe Welcome Act of 2026
- 119-s-5022: Cannabis Administration and Opportunity Act
- 119-s-2819: Head Start for America's Children Act
- 119-s-5238: For Our Republic Act
- 119-s-3990: PrEP Access and Coverage Act of 2026

## Sources
- [119-s-5473 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/5473)

## Related
- [119-s-891: Bipartisan Health Care Act](https://policyrisk.com/legislation/119-s-891)
- [119-s-5071: Children's Safe Welcome Act of 2026](https://policyrisk.com/legislation/119-s-5071)
- [119-s-5022: Cannabis Administration and Opportunity Act](https://policyrisk.com/legislation/119-s-5022)
- [119-s-2819: Head Start for America's Children Act](https://policyrisk.com/legislation/119-s-2819)
- [119-s-5238: For Our Republic Act](https://policyrisk.com/legislation/119-s-5238)
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-5473 (as of 2026-10-01).