First-Time Homebuyer Tax Credit Act of 2025
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 14
- Latest action
- Jul 23, 2025
What it does
The bill would create a refundable tax credit of 10% of a home’s purchase price for first-time homebuyers, capped at $15,000 (or $7,500 for married individuals filing separately), with adjustments for income, home price relative to area medians, and inflation. It applies to individuals purchasing a principal residence in the U.S. who have not owned a home in the prior three years and meet age, financing, and reporting requirements, including use of a federally backed mortgage and proper settlement documentation. The credit is subject to recapture if the home is sold or ceases to be the principal residence within four years, with exceptions for death, involuntary conversion, divorce,…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.