PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Congressional Research Service
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People & committees
Rep. Leger Fernandez, Teresa [D-NM-3] · D–NM
Legislative record
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Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Oct 6, 2026. Consult Congress.gov for the current record.
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PlainBill explanation
Based on the full Introduced in House · 2025-03-11 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
The proposed Home of Your Own Act of 2025 would create a program providing one-time $30,000 assistance on behalf of qualifying first-time homebuyers through States and Indian tribes. It could help pay purchase costs or necessary repairs before moving in. Buyers would have to meet income limits and complete financial counseling. Proportional repayment would generally apply for months without primary-residence occupancy during the 60-month period beginning when the buyer is able to lawfully occupy the home, subject to exceptions. The bill would authorize funding; it would not itself appropriate that funding.
This Act may be cited as the Home of Your Own Act of 2025.
States and Indian tribes that receive amounts under this Act may provide assistance only once on behalf of an eligible person and the amount of such assistance provided on behalf of such eligible person shall be $30,000.
costs incurred acquiring an ownership interest in an eligible home by means of an eligible mortgage loan, including downpayment costs, closing costs, and costs to reduce interest rates on such loan; or (B) pre-occupancy repairs or modifications required for a member of the household of the homebuyer to occupy the home following such acquisition
The term eligible person means— (i) a person who, as self-attested by the person, is a first-time homebuyer; and (ii) is a part of a household, the income of which does not exceed—
A State or Indian tribe may only provide assistance under this Act to an eligible person if such eligible person, before receiving such assistance, completes a financial counseling program with respect to the responsibilities and financial management of homeownership.
If an eligible person does not continue to occupy, as a primary residence, the eligible home for which the covered person receives assistance under this Act for the 60-month period beginning when the covered person is able to lawfully occupy the eligible home, the Secretary shall require the eligible person to repay the assistance received in an amount that is proportional to the number of months the eligible person did not occupy the eligible home as a primary residence.
The Secretary may not require an eligible person to repay assistance under paragraph (1) if the Secretary determines that— (A) a hardship as described by the Secretary prevents the eligible person from occupying the eligible home as the primary residence; or (B) any amount received by the eligible person from an arm’s length transaction selling the entirety of the ownership interest in the eligible home of the homebuyer to a bona fide purchaser is less than the original cost of acquisition of the home, including closing costs.
There is authorized to be appropriated $6,700,000,000 for each of fiscal years 2026 through 2030 to carry out this Act.
The Secretary of Housing and Urban Development would have to establish the program within one year after enactment, providing grants to States and Indian tribes to assist eligible home purchases.
The Secretary of Housing and Urban Development shall, not later than 1 year after the date of the enactment of this Act, establish a homeownership assistance grant program through which amounts are provided to States and Indian tribes to assist the purchase of eligible homes by eligible persons.
Three percent of any annual appropriations would be reserved for Indian tribes under the tribal housing allocation formula referenced in the bill. After that reservation, remaining amounts would be allocated equitably among participating States using a formula established by regulation. The referenced tribal formula is not reproduced in the supplied text.
The Secretary shall reserve 3 percent of any amounts appropriated under this Act, for a fiscal year, for grants to Indian tribes in accordance with the formula established by the Secretary pursuant to section 302 of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4152). (2) Remaining amounts After reserving such amounts for Indian tribes under paragraph (1), the Secretary shall equitably allocate remaining amounts to participating States in accordance with a formula established by the Secretary by rule.
For this program, “State” would include all 50 States, the District of Columbia, Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Islands, and American Samoa.
The term State means the 50 States of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Commonwealth of the Northern Mariana Islands, the Virgin Islands, and American Samoa.
Assistance would cover costs of buying an eligible ownership interest with an eligible mortgage loan, including a down payment, closing costs, and payments to reduce the mortgage interest rate.
States and Indian tribes that receive amounts under this Act shall use such amounts to provide assistance on behalf of eligible persons for— (A) costs incurred acquiring an ownership interest in an eligible home by means of an eligible mortgage loan, including downpayment costs, closing costs, and costs to reduce interest rates on such loan
Assistance could also cover repairs or modifications needed before a household member could occupy the purchased home. Examples include work needed to pass inspection and reasonable accommodations or modifications for a household member with a disability.
pre-occupancy repairs or modifications required for a member of the household of the homebuyer to occupy the home following such acquisition, including repairs to bring the home up to inspection standards and costs associated with reasonable accommodations or reasonable modifications for a household member with a disability, when applicable.
Assistance could be provided only once on behalf of each eligible person, in the fixed amount of $30,000. States and tribes could combine it with home-purchase assistance from other sources.
States and Indian tribes that receive amounts under this Act may provide assistance only once on behalf of an eligible person and the amount of such assistance provided on behalf of such eligible person shall be $30,000.
States and Indian tribes that receive amounts under this Act may provide assistance on behalf of an eligible person who is receiving assistance from other sources, including other State, Federal, Indian tribe, tribal organization, private and public tax-exempt nonprofit organizations, for acquisition of an ownership interest in an eligible home.
Applicants would self-attest that they are first-time homebuyers. The bill adopts that term's definition from an existing housing law without reproducing it; the supplied text therefore does not establish the definition's full scope.
a person who, as self-attested by the person, is a first-time homebuyer
The term first-time homebuyer has the meaning given the term is defined in section 104 of the Cranston Gonzalez National Affordable Housing Act (42 U.S.C. 12704).
For a home outside Indian tribe land, the usual household income ceiling would be 120 percent of the local median income determined by the Secretary. The relevant area could be where the purchased home is located or where the buyer currently lives.
is a part of a household, the income of which does not exceed— (I) in the case of a person purchasing an eligible home that is not located on Indian tribe land, 120 percent of the median income for the local area, as determined by the Secretary, within which— (aa) the eligible home, for which the ownership interest is to be acquired using such assistance, is located; or (bb) the place of residence of the homebuyer is located
For a home on Indian tribe land, the usual income ceiling would be the greater of 120 percent of national median income or 120 percent of the relevant local median income. The local area could be the purchased home's location or the buyer's current residence.
in the case of a person who is purchasing an eligible home that is located on Indian tribe land, the greater of 120 percent of the median income of the United States or 120 percent of the median income for the local area, as determined by the Secretary, within which— (aa) the eligible home, for which the ownership interest is to be acquired using such assistance, is located; or (bb) the place of residence of the homebuyer is located.
If the Secretary designated the relevant area as having a high cost of living, the household income ceiling would instead be 150 percent of that area's median income.
If the Secretary determines that the area described in subparagraph (A)(ii) is a high cost-of-living area, then the eligible person is required to be a part of a household, the income of which does not exceed 150 percent of the median income for the area, as determined by the Secretary.
Eligible homes could include condominiums, cooperatives, and manufactured homes. A property would need one to four dwelling units, counting accessory dwelling units, a mortgage meeting a listed eligibility route, and occupancy by an eligible person as a primary residence.
The term eligible home means a residential property, including a condominium, cooperative, or manufactured housing unit, that— (A) consists of 1 to 4 dwelling units, including accessory dwelling units; (B) is subject to a mortgage
(C) shall be occupied by an eligible person as a primary residence.
The mortgage-related eligibility routes would include meeting Federal National Mortgage Association or Federal Home Loan Mortgage Corporation underwriting requirements and acquisition limits; specified federal housing, rural housing, or veterans' loan programs; or the referenced legal definition of a “qualified mortgage.” Homes on tribal trust or reservation land could alternatively meet consumer-protection requirements set by the Secretary. The supplied text does not reproduce the referenced external requirements.
(i) meets the underwriting requirements and dollar amount limitations for acquisition by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation; (ii) is made, insured, or guaranteed under any program administered by the Secretary; (iii) is made, insured, or guaranteed by the Rural Housing Administrator of the Department of Agriculture; (iv) is a qualified mortgage, as defined in section 129C(b)(2) of the Truth in Lending Act (15 U.S.C. 1639c(b)(2)); (v) is made, insured, or guaranteed by the Secretary of Veterans Affairs pursuant to chapter 37 of title 38, United States Code; or (vi) in the case of a residential property located on tribal trust or reservation land, meets such requirements as the Secretary determines appropriate for consumer protection
Eligible ownership would include fee-simple real-estate ownership and a leasehold lasting at least ten years longer than the mortgage. It would also include a fee interest or long-term leasehold interest in a one-family unit in a multifamily project together with an undivided interest in common areas and facilities. Interests in “heir property” would be excluded.
The term ownership interest means any ownership, excluding any interest in heir property, in— (A) real estate in fee simple; (B) a leasehold on real estate, under a lease that is not less than 10 years longer than the term of the mortgage; (C) a fee interest in, or long-term leasehold interest in, real estate consisting of a one-family unit in a multifamily project, including a project in which the dwelling units are attached, or are manufactured housing units, semi-detached, or detached, and an undivided interest in the common areas and facilities which serve the project.
Before receiving assistance, buyers would have to complete counseling about homeownership responsibilities and financial management. An entity would have to provide counseling approved by, and conducted in a manner acceptable to, the Secretary or the State or tribe providing assistance.
A State or Indian tribe may only provide assistance under this Act to an eligible person if such eligible person, before receiving such assistance, completes a financial counseling program with respect to the responsibilities and financial management of homeownership. (b) Approval and manner of program The financial counseling program shall be conducted by an entity that provides financial counseling approved by, and in a manner acceptable to— (1) the Secretary; or (2) the Indian tribe or State providing assistance to the eligible person.
Recipients who did not maintain primary-residence occupancy throughout the 60-month period beginning when they are able to lawfully occupy the home would generally have to repay assistance in proportion to the months they did not occupy it as their primary residence. The clock would begin with the ability to lawfully occupy the home, which may precede actually moving in.
If an eligible person does not continue to occupy, as a primary residence, the eligible home for which the covered person receives assistance under this Act for the 60-month period beginning when the covered person is able to lawfully occupy the eligible home, the Secretary shall require the eligible person to repay the assistance received in an amount that is proportional to the number of months the eligible person did not occupy the eligible home as a primary residence.
The Secretary could not require repayment after determining that a hardship described by the Secretary prevented primary-residence occupancy. Repayment also could not be required if the Secretary determined that an arm’s length sale of the buyer's entire ownership interest to a bona fide purchaser brought the buyer less than the original acquisition cost, including closing costs.
The Secretary may not require an eligible person to repay assistance under paragraph (1) if the Secretary determines that— (A) a hardship as described by the Secretary prevents the eligible person from occupying the eligible home as the primary residence; or (B) any amount received by the eligible person from an arm’s length transaction selling the entirety of the ownership interest in the eligible home of the homebuyer to a bona fide purchaser is less than the original cost of acquisition of the home, including closing costs.
A State or tribe could place a lien on the home to recover assistance. Repaid assistance would have to be reused to assist others, described in this provision as “covered persons,” a term the bill does not define.
The State or Indian tribe that provided the assistance to the eligible person may place a lien on the eligible home for the purpose of recapturing such assistance. (4) Use of recaptured amounts Any assistance repaid pursuant to paragraph (1) shall be used to provide assistance to other covered persons.
Assistance would be excluded from gross income for federal tax purposes. It also could not be treated as funds from a prohibited source under the specified National Housing Act provision. That referenced provision is not supplied, so its broader operation cannot be determined here.
For purposes of the Internal Revenue Code of 1986, gross income shall not include any assistance provided under this Act.
Assistance provided to an eligible person by a State or Indian tribe under this section may not be considered funds from a prohibited source for the purposes of section 203(b)(9)(C) of the National Housing Act (12 U.S.C. 1709(b)(9)(C)).
Participating States would have to submit annual implementation and compliance plans and distribute at least 25 percent of their allocations through community development financial institutions, a category defined by a referenced law not reproduced here. A State could include its plan in its Annual Action Plan.
The Secretary shall require that each State receiving grant amounts under this Act— (A) submit an annual plan to the Secretary with respect to implementing and complying with the requirements of this Act; and (B) distribute not less than 25 percent of the amounts allocated to the State through community development financial institutions. (2) Annual plan The annual plan required under paragraph (1) may be included in the Annual Action Plan submitted to the Secretary by such State.
The term community development financial institution has the meaning given the term in section 103 of the Community Development Banking and Financial Institutions Act of 1994.
Participating tribes would also have to submit annual implementation and compliance plans, which could be included in their Indian Housing Plans. Tribes would have to consider distributing funds through community development financial institutions, but the provision would not require them to do so.
The Secretary shall require that each Indian tribe receiving grant amounts under this Act— (A) submit an annual plan to the Secretary with respect to implementing and complying with the requirements of this Act; and (B) consider distributing some or all amounts allocated to the Indian tribe through community development financial institutions. (2) Annual plan The annual plan required under paragraph (1) may be included in the Indian Housing Plan submitted to the Secretary by such Indian tribe.
With the Secretary's permission, States and tribes could contract with approved tax-exempt private or public nonprofits or community development financial institutions to deliver assistance. Tribes could also contract with tribally designated housing entities or intertribal consortiums.
The Secretary may permit a State to contract with one or more of the following to provide amounts to eligible persons on behalf of the State: (A) A tax-exempt private or public nonprofit organization approved by the Secretary. (B) A community development financial institution.
The Secretary may permit a Tribe to contract with one or more of the following to provide amounts to eligible persons on behalf of the Tribe: (A) A tax-exempt private or public nonprofit organization approved by the Secretary. (B) A Tribally designated housing entity. (C) An intertribal consortium. (D) A community development financial institution.
A participating tribe could give preference to otherwise eligible members of its own tribe and members of other Indian tribes.
An Indian tribe that receives amounts under this Act may provide preference to eligible persons who are members of such Indian tribe as well as to members of other Indian tribes.
The bill would authorize appropriations of $6.7 billion for each fiscal year from 2026 through 2030. This provision authorizes future funding but does not itself appropriate money.
There is authorized to be appropriated $6,700,000,000 for each of fiscal years 2026 through 2030 to carry out this Act.
States could use up to 7 percent of their grants for administrative costs, and tribes could use up to 10 percent. The Secretary could use up to 3 percent of appropriated funds for training and technical assistance to States and tribes.
Not more than 7 percent of any amounts provided to a State under this Act may be used by such State to cover administrative costs.
Not more than 10 percent of any amounts provided to an Indian Tribe under this Act may be used by such Indian Tribe to cover administrative costs.
Not more than 3 percent of any amounts appropriated under this Act may be used by the Secretary to provide training and technical assistance to States and Indian tribes.
The supplied official-actions snapshot, updated October 6, 2026, records introduction in the House and referral to the Financial Services and Ways and Means Committees on March 11, 2025. This snapshot does not establish subsequent action or enactment.
Source snapshot updated 2026-10-06T08:05:53Z.
2025-03-11: Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2025-03-11: Introduced in House
A closer look
Reviewed version: Introduced in House · 2025-03-11. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated provision or policy change attached to appropriations was identified after reviewing the complete supplied introduced text. This conclusion is limited to that version and does not establish the contents or attachment history of other versions or accompanying materials.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for a particular recipient or place outside competitive or formula allocation was identified after reviewing the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials. Formal earmark status cannot be established without the missing disclosures and related materials.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
Findings to examine
The cited findings identify preferential treatment and special eligibility alternatives within the bill's main policy. Classification does not establish improper purpose or effect.
Tribes administering grants could favor otherwise eligible members of their own tribe and other Indian tribes. This is an express preference within the homebuyer assistance program.
An Indian tribe that receives amounts under this Act may provide preference to eligible persons who are members of such Indian tribe as well as to members of other Indian tribes.
Buyers purchasing homes on Indian tribe land would receive a special income-limit rule using the greater of national or relevant local median income. Outside the high-cost-area exception, this could allow a higher eligibility ceiling than the local-income-only rule for purchases elsewhere.
in the case of a person purchasing an eligible home that is not located on Indian tribe land, 120 percent of the median income for the local area, as determined by the Secretary
in the case of a person who is purchasing an eligible home that is located on Indian tribe land, the greater of 120 percent of the median income of the United States or 120 percent of the median income for the local area, as determined by the Secretary
If the Secretary determines that the area described in subparagraph (A)(ii) is a high cost-of-living area, then the eligible person is required to be a part of a household, the income of which does not exceed 150 percent of the median income for the area, as determined by the Secretary.
Homes on tribal trust or reservation land would have an additional mortgage-related eligibility route based on consumer-protection requirements set by the Secretary. This is a land-specific alternative to the listed mortgage standards and programs; the text does not establish whether the eventual requirements would be less demanding.
(i) meets the underwriting requirements and dollar amount limitations for acquisition by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation; (ii) is made, insured, or guaranteed under any program administered by the Secretary; (iii) is made, insured, or guaranteed by the Rural Housing Administrator of the Department of Agriculture; (iv) is a qualified mortgage, as defined in section 129C(b)(2) of the Truth in Lending Act (15 U.S.C. 1639c(b)(2)); (v) is made, insured, or guaranteed by the Secretary of Veterans Affairs pursuant to chapter 37 of title 38, United States Code; or (vi) in the case of a residential property located on tribal trust or reservation land, meets such requirements as the Secretary determines appropriate for consumer protection
Community development financial institutions would receive a reserved intermediary role: States must distribute at least 25 percent of their allocations through them. This mandatory minimum gives that institution category preferential participation in delivering the homeownership assistance, beyond merely permitting administrative contracting. It does not establish that those institutions could retain the distributed assistance or receive any particular fee.
The Secretary shall require that each State receiving grant amounts under this Act— (A) submit an annual plan to the Secretary with respect to implementing and complying with the requirements of this Act; and (B) distribute not less than 25 percent of the amounts allocated to the State through community development financial institutions.
The Secretary may permit a State to contract with one or more of the following to provide amounts to eligible persons on behalf of the State: (A) A tax-exempt private or public nonprofit organization approved by the Secretary. (B) A community development financial institution.
Full text preserved for this analysis. Legislative record snapshot: Oct 6, 2026. How PlainBill uses AI