Creates a $15,000 tax credit to help first-time homebuyers afford a home.
This bill would create a new refundable tax credit of up to $15,000 for people buying their first home. It aims to make homeownership more affordable for eligible buyers, but includes rules about income, home price, and how long you must live there. It also lets buyers get the credit upfront from their mortgage lender.
Today, there is no federal tax credit specifically for first-time homebuyers. After this bill, eligible first-time homebuyers would be able to claim a refundable tax credit of up to $15,000, or choose to receive that amount upfront from their mortgage lender. This credit would apply to principal residences purchased after the bill becomes law. The purchase must be financed with a federally backed mortgage loan, and dollar limits would be adjusted for inflation starting after 2025.
HR 4717 · 119th Congress · July 23, 2025 · AI Summary by gemini-2.5-flash · 8/10
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Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.