First-time homebuyers could get a tax credit of up to $15,000 to help buy a home.
This bill would create a new tax credit for people buying their first home. They could get back 10% of the home's price, up to $15,000. The credit would be reduced for higher incomes or more expensive homes, and it might need to be repaid if the home is sold within four years.
Today, there is no specific refundable tax credit for first-time homebuyers under Section 36 of the Internal Revenue Code. If this bill passes, first-time homebuyers would be able to claim a refundable tax credit of 10% of their home's purchase price, up to $15,000, with certain income and home price limits. They could also choose to get this money upfront from their mortgage lender.
S 2402 · 119th Congress · AI Summary by gemini-2.5-flash · 7/10
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Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.