HR 4717

This bill, the First-Time Homebuyer Tax Credit Act of 2025, proposes a refundable tax credit for first-time homebuyers purchasing a principal residence in the United States. The credit is equal to 10% of the purchase price, up to a maximum of $15,000 for individuals and $7,500 for married couples filing separately. The credit is subject to phase-out based on the taxpayer's modified adjusted gross income and the area median income of the location of the home, and it’s capped by the area median purchase price. The bill also includes provisions for recapture of the credit if the home is sold within a certain timeframe and establishes a mechanism for mortgage lenders to receive the credit instead of the taxpayer, with certain conditions.