S 2402
First-Time Homebuyer Tax Credit Act of 2025
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 8:33 AM
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
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 single filers 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 where the residence is located, with a maximum credit amount of $15,000. The bill also includes provisions regarding recapture of the credit, eligibility requirements, and a mechanism for mortgage lenders to receive the credit instead of taxpayers.
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