Janelle Bynum (D-OR)
First-Time Home Buyers Match Act
A Democratic bill with no cosponsors
Last activity — Referred to the House Committee on Financial Services.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill, known as the "First-Time Home Buyers Match Act," requires the Secretary of Housing and Urban Development to create a pilot program. The program involves depositing matching funds into qualifying savings accounts for 20,000 eligible prospective borrowers each year. The match is either 50 percent of the person's annual deposits or $5,000, whichever is less. Funds can be used for various single-family home purchase costs or specific home repairs. The provided amounts are treated as a second mortgage that is gradually paid off through monthly occupancy. The program is set to terminate five years after its enactment.
Yes· 3 of 8
- Scored +7
Would households on low incomes be better off under this?
The program specifically assists those earning no more than 120 percent of the area median income.
- Scored +6
Does this make housing cost less?
The bill provides matching funds to assist first-time homebuyers with downpayments and closing costs.
- Scored +5
Would people in their twenties and thirties be better off under this?
The assistance targets first-time homebuyers who are often younger adults entering the housing market.
The opposite
- Scored -1
Does this reduce what the federal government spends?
The bill mandates new federal spending through the Secretary of Housing and Urban Development to provide matching funds.
Who it would affect, and how
Potential Positive Impacts for People
-
Financial Assistance for Homebuyers: The Secretary will deposit money into qualifying savings accounts to help people save for a home (Section 2(a)). This could help 20,000 eligible people each year by matching up to 50 percent of their deposits or up to $5,000 (Section 2(a)).
-
Versatile Use of Funds: The money can be used for several different costs associated with buying a single-family home, including a downpayment, title insurance, closing costs, real estate agent commissions, appraisal and inspection fees, or loan origination fees (Section 2(d)).
-
Support for Home Maintenance: The funds can also be used for qualified home repairs that address health, safety, or structural integrity issues (Section 2(d), Section 2(h)(2)).
Potential Negative Impacts for People
-
Debt Obligations: The money provided through the program is considered a second mortgage (Section 2(e)(1)). This means the participant has a debt that must be managed over a 36-month term (Section 2(e)(2)).
-
Risk of Repayment Demands: If a participant sells their home or stops living in it before the 36-month term is up, they are required to pay back the remaining amount of the second mortgage to the Secretary (Section 2(e)(4)).
-
Savings Limits: There is a restriction where the Secretary cannot deposit funds into an account if the balance reaches or exceeds 10 percent of the area median value of a single-family home in the borrower's area (Section 2(b)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would households on low incomes be better off under this? — The program specifically assists those earning no more than 120 percent of the area median income. Would people in their twenties and thirties be better off under this? — The assistance targets first-time homebuyers who are often younger adults entering the housing market. Would middle-income households be better off under this? — The matching funds provide a significant boost to those attempting to transition into homeownership. Would Black Americans be better off under this? — The program may help narrow the wealth gap by providing assistance for first-time home purchases. Would Hispanic Americans be better off under this? — The program may help narrow the wealth gap by providing assistance for first-time home purchases. Would people in cities be better off under this? — The program uses area median values which can assist residents in various urban and suburban markets.
- Social Issues And Justice
- Does this make housing cost less? — The bill provides matching funds to assist first-time homebuyers with downpayments and closing costs. Is this likely to lift people out of poverty? — The program helps low-to-moderate income individuals build equity through homeownership assistance.
- Economy And Finance
- Does this reduce what the federal government spends? — The bill mandates new federal spending through the Secretary of Housing and Urban Development to provide matching funds.
- 1/27/2026
- Referred to the House Committee on Financial Services.
- Introduced in House