Bill · H.R. 2064· House(119-HR-2064)
Home of Your Own Act of 2025
- Introduced
- 3/11/2025
- Last activity
- 3/11/2025 — Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Sponsored by
- Teresa Leger Fernandez
- Cosponsors
- - 14 - 0
- Introduced
- In Committee
What this bill would do
The "Home of Your Own Act of 2025" directs the Secretary of Housing and Urban Development to create a homeownership assistance grant program. This program provides funds to States and Indian tribes to help eligible people purchase homes. These funds can cover costs like downpayments, closing costs, interest rate reductions, or necessary home repairs and modifications. Assistance is limited to $30,000 per eligible person and may be layered with other sources of aid. To receive help, individuals must complete a financial counseling program first. The bill authorizes up to $6.7 billion for each fiscal year from 2026 through 2030.
Yes· 3 of 7
Would Native Americans be better off under this?+8
The bill specifically reserves 3 percent of funds for grants to Indian tribes.
Does this make housing cost less?+8
The bill establishes a significant grant program to assist with the purchase of homes via downpayments and closing costs.
Would households on low incomes be better off under this?+7
The bill provides direct financial grants to help low-income individuals achieve homeownership.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Financial Assistance for Home Purchases: The bill provides money to help with downpayments, closing costs, and reducing interest rates on mortgage loans (Section 2(c)(1)(A)).
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Support for Home Accessibility and Safety: Grants can be used for pre-occupancy repairs or modifications, including those needed for household members with disabilities (Section 2(c)(1)(B)).
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Tax Advantages: The assistance provided through this program is not considered gross income for federal taxation purposes (Section 2(f)).
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Targeted Support for Tribal Communities: The Secretary must reserve 3 percent of the appropriated amounts specifically for grants to Indian tribes (Section 2(b)(1)).
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Flexibility in Funding: Assistance can be combined with other sources of help, such as funds from other federal, state, or nonprofit organizations (Section 2(d)).
Potential Negative Impacts for People
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Repayment Requirements: If an eligible person does not live in the home as their primary residence for at least 60 months, they may be required to repay the assistance proportionally (Section 2(e)(1)).
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Risk of Liens: States or Indian tribes that provide the assistance have the authority to place a lien on the home to ensure they can recover the funds if the occupancy requirements are not met (Section 2(e)(3)).
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Mandatory Financial Counseling: Before receiving any assistance, an eligible person is required to complete a financial counseling program (Section 4(a)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Native Americans+8Good For Low Income Households+7Good For Middle Class Households+5Good For People With Disabilities+5
- Social Issues And Justice
- Improves Affordable Housing+8Improves Disability Rights+5Improves Poverty Reduction+5
- 10/5/2026
- 1 Cosponsor added.
- 11/4/2025
- 1 Cosponsor added.
- 7/14/2025
- 1 Cosponsor added.
- 3/24/2025
- 1 Cosponsor added.
- 3/11/2025
- Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 10 Cosponsors added.
- Introduced in House
Jim CostaDemocrat · California
Lois FrankelDemocrat · Florida
Jesús GarcíaDemocrat · Illinois
Robert GarciaDemocrat · California
Daniel GoldmanDemocrat · New York
Jahana HayesDemocrat · Connecticut
Henry JohnsonDemocrat · Georgia
George LatimerDemocrat · New York
Betty McCollumDemocrat · Minnesota
Eleanor NortonDemocrat · District of Columbia
Delia RamirezDemocrat · Illinois
Mary Gay ScanlonDemocrat · Pennsylvania
Melanie StansburyDemocrat · New Mexico
Emilia SykesDemocrat · Ohio