Bills · HR 4717
IN COMMITTEE· 119TH CONGRESS
House BillHR 4717Taxation
First-Time Homebuyer Tax Credit Act of 2025
INTRO JUL 23· LAST ACTION JUL 23
READING
15MIN
COSPONSORS
37
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it aims to address a significant challenge many Americans face: affording a first home. Home prices and mortgage rates have made it increasingly difficult for new buyers to save enough for a down payment or comfortably cover monthly mortgage costs. If this bill becomes law, it could inject a substantial financial boost directly into the pockets of eligible first-time homebuyers, potentially turning the dream of homeownership into a reality for many more people. This can help individuals build wealth and contribute to neighborhood stability.
Without this bill, many potential first-time homebuyers would continue to struggle with affordability, possibly delaying their home purchases or remaining in rental housing for longer. The credit could stimulate local economies by increasing home sales and related activities like renovations and furniture purchases. However, it could also potentially influence housing prices, depending on the scale of its impact and the existing supply and demand dynamics in different markets.
KEY PROVISIONS
5AI-extractedPROVISION 01
Establishes a refundable tax credit for first-time homebuyers equal to 10% of the home's purchase price.
This directly lowers the cost of homeownership for eligible individuals by providing a substantial financial benefit, making it easier to afford a down payment or reduce the overall financial burden.
PROVISION 02
Sets a maximum credit amount of $15,000 ($7,500 for married individuals filing separately) which will be adjusted for inflation after 2025.
This provision caps the government's financial exposure while still offering a significant benefit, and the inflation adjustment ensures the credit retains its value over time.
PROVISION 03
Includes phase-out rules that reduce the credit for taxpayers with higher incomes or those purchasing homes above certain price thresholds relative to their local area.
These limitations target the credit to individuals and families who are most likely to need financial assistance to purchase a home, ensuring the benefit primarily supports lower and middle-income buyers.
PROVISION 04
Defines a 'first-time homebuyer' as someone who has not had an ownership interest in a residence during the past three years and has not previously claimed this credit.
This clearly defines eligibility, preventing individuals who are not genuinely first-time buyers from claiming the credit and ensuring the benefit goes to its intended recipients.
PROVISION 05
Requires that the home purchase be financed through a federally backed mortgage loan and that the taxpayer be at least 18 years old.
These requirements add safeguards, ensuring purchases meet certain standards and preventing the credit from being used by minors for property acquisitions.
SPONSORSHIP
1 + 37
D· California
YRS IN OFFICE
9
BILLS LED
55
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 37 REP 0 IND 0
ACTION TIMELINE
2 EVENTSJUL 23
Introduced in House
JUL 23
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 4717
Congress119th
StatusIn Committee
IntroducedJul 23, 2025
Last actionJul 23, 2025
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IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED JUL 23, 2025
House BillHR 4717Taxation
First-Time Homebuyer Tax Credit Act of 2025
INTRODUCED JUL 23, 2025· LAST ACTION JUL 23, 2025
PASSAGE CHANCES
—%
READING
15 min
COSPONSORS
37
COMPLEXITY
Moderate
