American Dream for All Act
Sponsored By: Representative Carbajal, Salud O. [D-CA-24]
Introduced
Summary
This bill would create a HUD-administered pilot to lower upfront barriers to homeownership by funding revolving state and tribal loan funds. Down payment assistance pilot would give capital grants so States and Indian tribes can make repayable down-payment loans to eligible buyers.
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- Families and homebuyers: Eligible first-time and first-generation buyers who complete HUD-approved counseling and earn up to 150% of area median income could receive down-payment loans, with area-based caps up to $150,000 in high-cost places.
- States and Indian tribes: State agencies and tribal housing agencies could receive capital grants allocated by population to seed or expand revolving State loan funds, with administrative costs limited to 15% of each grant.
- Program rules and oversight: Loan repayments go back into the State fund and may include a share of appreciation when homes gain value. Entities must file annual reports and HUD must report to Congress within 1 year, with authorization to fund the pilot for fiscal years 2026 through 2030.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Down payment loans for first-time buyers
This bill would have HUD start a pilot within one year to fund state and tribal down payment loan programs. If eligible, you could borrow 3%–20% of the purchase price, up to $150,000 (high‑cost), $100,000 (medium), or $50,000 (low); caps would adjust for inflation. You must be a U.S. citizen or lawful permanent resident, be a first‑time or first‑generation buyer, finish a HUD class, have income at or below 150% of area median income, and attest you cannot pay over 5% down. Loans could be offered before you buy and awarded first‑come or by lottery, with a one‑time renewal. When you sell, you would repay the loan; if the home went up in value, you would also repay your share of the gain; if it went down, you would repay only the loan. Funding would be authorized for 2026–2030, and grants would be allocated by population.
Sponsors & CoSponsors
Sponsor
Carbajal, Salud O. [D-CA-24]
CA • D
Cosponsors
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 7/10/2025
Rep. Sherman, Brad [D-CA-32]
CA • D
Sponsored 4/20/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov