First-Time Home Buyers Match Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7244 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7244 To require the Secretary of Housing and Urban Development to establish a first-time home buyers match program, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 27, 2026 Ms. Bynum introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To require the Secretary of Housing and Urban Development to establish a first-time home buyers match program, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``First-Time Home Buyers Match Act''. SEC. 2. FIRST-TIME HOME BUYERS MATCH PROGRAM. (a) In General.--The Secretary of Housing and Urban Development shall, not later than 1 year after the date of the enactment of this section, establish a pilot program through which the Secretary shall each year during the duration of the pilot program, deposit into a qualifying savings account of each of 20,000 eligible prospective borrowers an amount equal to the lesser of-- (1) 50 percent of the amount an eligible person deposited into such account during such year; or (2) $5,000. (b) Restriction.--The Secretary may not deposit amounts into any qualifying savings account if such account holds an amount that is greater than or equal to the amount that is 10 percent of the area median value of a single-family home in the area where the eligible prospective borrower who owns such account resides. (c) Requirement.--To be eligible to receive amounts under this section, an eligible prospective borrower must have completed homeownership counseling provided by a HUD-certified housing counseling agency. (d) Use