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First-time homebuyers could get $50,000 under new bill

September 30, 2026

A proposed bill would provide first-time homebuyers up to $50,000 in federal matching funds for down payments, with a 5-to-1 government match on savings through "Homeownership Promise Accounts." The bill aims to improve affordability amid rising home prices and borrowing costs, requiring HUD-approved counseling and limiting purchases to median-priced homes. Critics warn it may drive prices higher without increasing housing supply.

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