The $15,000 First-Time Homebuyer Tax Credit: Renewed In 2025
The proposed $15,000 first-time homebuyer tax credit would provide refundable tax credits to eligible buyers. It's currently under consideration in Congress but not yet passed into law.
Track the latest mortgage and housing legislation moving through Congress. See which bills are most popular with readers and could help first-time buyers.
These are the housing bills most popular with readers like you this week, based on page views and reader engagement. Join the millions who have trusted Homebuyer.com.
Stats updated February 13, 2026 at 10:43 AM
The proposed $15,000 first-time homebuyer tax credit would provide refundable tax credits to eligible buyers. It's currently under consideration in Congress but not yet passed into law.
A housing policy bill that updates FHA, HUD programs, grants, and manufactured home rules to support more housing options.
A proposal to help disabled veterans qualify for HUD-funded programs by excluding VA disability pay from income calculations.
A proposal to insure second liens that finance accessory dwelling units.
Proposed legislation focused on supporting first-time home buyers.
A guide to the Downpayment Toward Equity Act of 2025, a proposed program giving $20,000 in downpayment assistance or more to first-generation home buyers.
The HELPER Act of 2025 is a bipartisan bill to create a no-down payment, no-monthly-mortgage-insurance loan program for teachers, firefighters, law enforcement, and first responders.
The Bipartisan American Homeownership Opportunity Act is a bill that creates a down payment tax credit for first-time homebuyers and a construction tax credit for builders of starter homes.
A bill that sets clear timelines for BIA mortgage processing and title status reports on Indian land.
A proposal to make some retirement withdrawals tax-free when used for a down payment or closing costs on a primary home.
The Home of Your Own Act provides cash grants up to $30,000 for eligible first-time home buyers.
Raises FHA multifamily loan limits and updates them for inflation starting in 2025.
A proposed HUD pilot focused on making small mortgage loans easier to get.
The First Time Homeowner Savings Plan Act raises the IRA first-time homebuyer penalty-free withdrawal cap from $10,000 to $25,000 and adds inflation indexing.
Learn about the LIFT Act including how it creates 20-year mortgages with 30-year payments for first-time home buyers.
The American Dream for All Act provides shared-appreciation down payment loans up to 20% of the purchase price for eligible first-time and first-generation buyers.
The American Housing and Economic Mobility Act proposes down payment assistance grants and housing affordability reforms to address discrimination and make homeownership more accessible.
Proposed tax credits for NFIP and private flood insurance premiums, starting after 2025.
The Housing Financial Literacy Act of 2025 is a bill to reduce FHA mortgage insurance premiums by 25 basis points for first-time homebuyers who complete financial literacy housing counseling.
Would make the mortgage insurance premium tax deduction permanent after December 31, 2024.
A proposal to let some 529 plan funds be used toward a first home purchase.
A proposed bill that sets clearer rules for seller financing and exempts small-volume owner-financers from certain licensing requirements.
A proposed bill focused on supporting first-time home buyers.
A proposed refundable tax credit for first-time home buyers.
A proposed tax credit to help cover flood insurance costs.
A proposed tax change that would exclude home sale gain in certain situations, including sales to first-time home buyers.
A proposal to expand FEMA housing help after major disasters, including flexible proof of ownership and support for damaged homes.
A proposal to place new taxes and limits on large investment buyers of one-to-four unit homes.
Makes the tax exclusion for forgiven mortgage debt on your main home permanent, starting after 2025.
A proposal to cancel annual FHA mortgage insurance at 78 percent loan-to-value on new FHA loans.
A proposal to pair assumable FHA, VA, and USDA first mortgages with second mortgages to bridge a purchase price gap.
A proposal to provide up to 360 days of mortgage forbearance for eligible Fannie Mae and Freddie Mac loans after a declared disaster.
Removes the current limit on tax-free profit from selling your primary home.
A proposed HUD grant program to help communities use pre-reviewed mixed-income housing designs.
A proposal to make some USDA rural home loans assumable by eligible buyers when the loan is current.
A proposal to reduce advantages for large investors competing for one-to-four unit homes.
A bill is introduced in the House, Senate, or both chambers by a member of Congress. This is the first step in the legislative process. Bills can be introduced by any member of Congress and are assigned a number (H.R. for House bills, S. for Senate bills). Multiple bills on the same topic are often introduced simultaneously.
Bills are assigned to relevant committees for review, hearings, and potential amendments. Most bills never make it past this stage. Committees hold public hearings, invite expert testimony, and may make significant changes to the bill. This is where most bills die or are substantially modified.
If approved by committee, bills move to the full chamber for debate and voting. Both chambers must pass identical versions. Floor debate can last days or weeks, with members offering amendments and arguing for or against the bill. A simple majority is required to pass most bills.
If both chambers pass different versions, a conference committee works to reconcile the differences into a single bill. Conference committees include members from both chambers and must create a compromise version that both houses can agree to. This step is often where bills fail or are significantly changed.
The President must sign the bill for it to become law. The President can also veto the bill, sending it back to Congress. If vetoed, Congress can override the veto with a two-thirds majority in both chambers. Once signed, the bill becomes law and takes effect according to its provisions.
The legislative process can take anywhere from a few months to several years. Most bills that become law take at least 6 months to pass through all stages. Some bills are introduced multiple times over several years before finally becoming law.
Only about 4% of bills introduced in Congress become law. The vast majority of bills never make it past the committee stage. This is why tracking active legislation is important for understanding which programs might actually become available.
You can track bills through Congress.gov, subscribe to our newsletter for updates, or contact your representatives' offices directly. Many congressional offices provide email updates on bills they're working on.
Many housing assistance bills include retroactive provisions that allow recent homebuyers to claim benefits. The specific details depend on each bill's language. It's worth tracking bills even if you've already purchased, as you may be able to claim benefits later.
You can find your representatives at House.gov and Senate.gov. Most offices have contact forms on their websites, or you can call their Washington or district offices. Personal stories about how these bills would help you are often the most effective.
Yes! Many states have their own downpayment assistance programs, tax credits, and first-time buyer incentives. These programs are often more likely to be available than federal legislation. Check your state's housing authority website for local programs.
It's good to be a homebuyer. Get today's mortgage rates, new market information, and practical mortgage advice delivered straight to your inbox. It's everything you need.

Homebuyer.com is now a part of Opendoor. See the cash offer we'll make for your home.