Bill · H.R. 4069· House(119-HR-4069)

Downpayment Toward Equity Act of 2025

Age: 88 years

California

Introduced: 6/23/2025
Last activity: 6/23/2025 — Referred to the House Committee on Financial Services.
Sponsored by: Maxine Waters
Cosponsors: - 28 - 0

Finance and Financial Sector

Introduced
In Committee

What this bill would do

The Downpayment Toward Equity Act of 2025 establishes a program where the Secretary of Housing and Urban Development provides grants to States and eligible entities. These funds are intended to provide financial assistance to first-generation homebuyers for acquiring owner-occupied primary residences. The assistance covers costs such as downpayments, closing costs, interest rate reductions, and certain home modifications. Eligibility is based on income limits and the homebuyer's status as a first-generation purchaser. The bill aims to address multigenerational inequities and close the racial homeownership gap in the United States.

Yes· 3 of 22

Does this make housing cost less?+9
The bill provides significant financial assistance for downpayments and closing costs to help people acquire primary residences.
Would households on low incomes be better off under this?+8
The bill provides direct financial assistance to households meeting specific income thresholds.
Does this narrow racial gaps in how people are treated?+8
The bill specifically targets closing the racial homeownership gap through targeted assistance for first-generation homebuyers.