II
119THCONGRESS
1
STSESSION S. 967
To provide downpayment assistance to first-generation homebuyers to address
multigenerational inequities in access to homeownership and to narrow
and ultimately close the racial homeownership gap in the United States,
and for other purposes.
IN THE SENATE OF THE UNITED STATES
MARCH11 (legislative day, MARCH10), 2025
Mr. W
ARNOCK(for himself, Mr. PADILLA, Mr. KAINE, Mr. WARNER, Mr. VAN
H
OLLEN, and Mr. BOOKER) introduced the following bill; which was read
twice and referred to the Committee on Banking, Housing, and Urban
Affairs
A BILL
To provide downpayment assistance to first-generation home-
buyers to address multigenerational inequities in access
to homeownership and to narrow and ultimately close
the racial homeownership gap in the United States, and
for other purposes.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Downpayment Toward 4
Equity Act of 2025’’. 5
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SEC. 2. DEFINITIONS. 1
In this section: 2
(1) A
FFIRMATIVELY FURTHER FAIR HOUS -3
ING.—The term ‘‘affirmatively further fair housing’’ 4
has the same meaning as defined by the Secretary 5
to implement section 808(e)(5) of the Fair Housing 6
Act (42 U.S.C. 3608(e)(5)). 7
(2) E
LIGIBLE ENTITY.—The term ‘‘eligible enti-8
ty’’ means— 9
(A) a minority depository institution, as 10
defined in section 308 of the Financial Institu-11
tions Reform, Recovery, and Enforcement Act 12
of 1989 (12 U.S.C. 1463 note); 13
(B) a community development financial in-14
stitution, as defined in section 103 of the Riegle 15
Community Development and Regulatory Im-16
provement Act of 1994 (12 U.S.C. 4702), that 17
is certified by the Secretary of the Treasury 18
and targets services to minority and low-income 19
populations or provides services in neighbor-20
hoods having high concentrations of minority 21
and low-income populations; 22
(C) any other nonprofit, mission-driven en-23
tity that the Secretary finds has a track record 24
of providing assistance to homeowners, targets 25
services to minority and low-income popu-26
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lations, or provides services in neighborhoods 1
having high concentrations of minority and low- 2
income populations; and 3
(D) a unit of general local government, as 4
defined in section 102 of the Housing and Com-5
munity Development Act of 1974 (42 U.S.C. 6
5302). 7
(3) E
LIGIBLE HOME.—The term ‘‘eligible 8
home’’ means a residential dwelling, including a unit 9
in a condominium or cooperative project or a manu-10
factured housing unit, that meets the requirements 11
of section 5. 12
(4) E
LIGIBLE MORTGAGE LOAN .—The term ‘‘el-13
igible mortgage loan’’ means a residential mortgage 14
loan that meets the requirements of section 6. 15
(5) F
IRST-GENERATION HOMEBUYER .—The 16
term ‘‘first-generation homebuyer’’ means a home-17
buyer that is— 18
(A) an individual— 19
(i) whose parents or legal guardians 20
do not, or did not at the time of their 21
death, to the best of the individual’s knowl-22
edge, have any present ownership interest 23
in a residence in any State, excluding own-24
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ership of heir property or ownership of 1
chattel; and 2
(ii) whose spouse or domestic partner 3
has not, during the 3-year period ending 4
upon acquisition of the eligible home to be 5
acquired using such assistance, had any 6
present ownership interest in a residence 7
in any State, excluding ownership of heir 8
property or ownership of chattel, whether 9
the individual is a co-borrower on the loan 10
or not; or 11
(B) an individual who has at any time 12
been placed in foster care or institutional care 13
whose spouse or domestic partner has not, dur-14
ing the 3-year period ending upon acquisition of 15
the eligible home to be acquired using such as-16
sistance, had any ownership interest in a resi-17
dence in any State, excluding ownership of heir 18
property or ownership of chattel, whether such 19
individuals are co-borrowers on the loan or not. 20
(6) H
EIR PROPERTY.—The term ‘‘heir prop-21
erty’’ means residential property for which title 22
passed by operation of law through intestacy and is 23
held by 2 or more heirs as tenants in common. 24
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(7) OWNERSHIP INTEREST .—The term ‘‘owner-1
ship interest’’ means any ownership, excluding any 2
interest in heir property, in— 3
(A) real estate in fee simple; 4
(B) a leasehold on real estate under a lease 5
for not less than 99 years which is renewable; 6
or 7
(C) a fee interest in, or long-term leasehold 8
interest in, real estate consisting of a 1-family 9
unit in a multifamily project, including a 10
project in which the dwelling units are attached, 11
or are manufactured housing units, semi-de-12
tached, or detached, and an undivided interest 13
in the common areas and facilities which serve 14
the project. 15
(8) Q
UALIFIED HOMEBUYER .—The term 16
‘‘qualified homebuyer’’— 17
(A) means a homebuyer who meets the re-18
quirements of section 4; and 19
(B) includes homebuyers consisting of mul-20
tiple individuals, co-purchasers, and multi-mem-21
ber households. 22
(9) S
ECRETARY.—The term ‘‘Secretary’’ means 23
the Secretary of Housing and Urban Development. 24
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(10) SHARED EQUITY HOMEOWNERSHIP PRO -1
GRAM.—The term ‘‘shared equity homeownership 2
program’’ means affordable homeownership preser-3
vation through a resale restriction program adminis-4
tered by a community land trust, other nonprofit or-5
ganization, or State or local government or instru-6
mentalities. 7
(11) S
OCIALLY AND ECONOMICALLY DISADVAN -8
TAGED INDIVIDUAL.—The term ‘‘socially and eco-9
nomically disadvantaged individual’’ means an indi-10
vidual who meets the following requirements: 11
(A) S
OCIAL DISADVANTAGE.— 12
(i) I
N GENERAL.—The individual is a 13
member of a socially disadvantaged group, 14
whose members have historically been sub-15
jected to racial or ethnic discrimination 16
within the United States because of their 17
identity as members of such group without 18
regard to their individual qualities. 19
(ii) P
RESUMPTION; REBUTTAL.—An 20
individual identifying as Black, Hispanic, 21
Native American, or Asian American, or 22
any combination thereof, shall be presumed 23
to be socially disadvantaged for purposes 24
of clause (i). Such presumption may be re-25
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butted with credible evidence to the con-1
trary. 2
(iii) B
URDEN OF PROOF .—An indi-3
vidual who does not identify as described 4
in clause (ii) shall be required to establish 5
individual social disadvantage for purposes 6
of clause (i) by a preponderance of the evi-7
dence. 8
(iv) R
ULES.—The Secretary may 9
issue regulations as necessary to establish 10
procedures for complying with this sub-11
paragraph. 12
(B) E
CONOMIC DISADVANTAGE .—The indi-13
vidual has an income that meets the require-14
ments under section 4(a). 15
(12) S
TATE.—The term ‘‘State’’ means any 16
State of the United States, the District of Columbia, 17
the Commonwealth of Puerto Rico, the United 18
States Virgin Islands, Guam, the Commonwealth of 19
the Northern Mariana Islands, American Samoa, 20
and the tribal government of any Indian tribe, as de-21
fined in section 4 of the Native American Housing 22
Assistance and Self-Determination Act of 1996 (25 23
U.S.C. 4103). 24
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SEC. 3. FIRST-GENERATION DOWNPAYMENT ASSISTANCE 1
PROGRAM. 2
(a) E
STABLISHMENT.—The Secretary shall carry out 3
a program under this Act to provide grants to States and 4
eligible entities to provide financial assistance under this 5
section to first-generation homebuyers to assist them with 6
acquiring owner-occupied primary residences. 7
(b) A
LLOCATION.—After reserving amounts as re-8
quired under sections 7(d) and 9(b), any remaining 9
amounts made available to carry out this Act shall be allo-10
cated as follows: 11
(1) S
TATES.—75 percent of such amounts shall 12
be allocated among States in accordance with a for-13
mula established by the Secretary, which shall— 14
(A) take into consideration the best avail-15
able data to provide more funding to States 16
with a higher approximate number of potential 17
qualified homebuyers; and 18
(B) be adjusted to reflect median area 19
home prices. 20
(2) E
LIGIBLE ENTITIES.—25 percent of such 21
amounts shall be made available only to eligible enti-22
ties on a competitive basis. 23
(c) A
SSISTANCE.—Amounts from a grant under this 24
Act shall be used only to provide assistance— 25
(1) on behalf of a qualified homebuyer; and 26
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(2) for— 1
(A) costs in connection with the acquisi-2
tion, involving an eligible mortgage loan, of an 3
eligible home, including downpayment costs, 4
closing costs, and costs to reduce the rates of 5
interest on eligible mortgage loans; 6
(B) subsidies to make shared equity homes 7
affordable to homebuyers by discounting the 8
price for which the home will be sold and to 9
preserve the affordability of the home for subse-10
quent homebuyers; and 11
(C) pre-occupancy home modifications re-12
quired to accommodate qualified homebuyers or 13
members of their household with disabilities. 14
(d) A
MOUNT.—A grant of assistance under this 15
Act— 16
(1) may be provided on behalf of any qualified 17
homebuyer only once; and 18
(2) may not exceed the greater of $20,000 or 19
10 percent of the purchase price in the case of a 20
qualified homebuyer, not to include assistance re-21
ceived under subsection (c)(2)(C) for disability re-22
lated home modifications, except that the Secretary 23
may increase such maximum limitation amounts— 24
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(A) for qualified homebuyers who are so-1
cially and economically disadvantaged; or 2
(B) in the case of qualified homebuyers ac-3
quiring residences located in high-cost areas, as 4
determined based on median home prices or 5
prices of residences under a shared equity 6
homeownership program. 7
(e) L
AYERING OF ASSISTANCE.—Assistance from 8
grant amounts under this Act may be provided on behalf 9
of a qualified homebuyer who is receiving assistance from 10
other sources, including other State, Federal, local, pri-11
vate, public, and nonprofit sources, for acquisition of an 12
eligible home. 13
(f) S
TATEADMINISTRATION.— 14
(1) I
N GENERAL.—The Secretary shall require 15
that each State receiving grant amounts under this 16
Act administer the program to provide assistance 17
with such amounts through the State housing fi-18
nance agency for the State or such other housing 19
agency of the State as the Secretary finds appro-20
priate, except that any such agency may, at the op-21
tion of the agency, contract with a nonprofit entity, 22
including a housing counseling agency approved by 23
the Secretary, to administer such assistance. 24
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(2) AFFIRMATIVELY FURTHERING FAIR HOUS -1
ING.—For a State to be eligible for a grant under 2
this Act, the State shall be in compliance with the 3
Secretary’s regulations implementing the require-4
ment to affirmatively further fair housing. 5
(3) P
ROHIBITION OF PRIORITY OR 6
RECOUPMENT OF FUNDS .—In selecting qualified 7
homebuyers for assistance with grant amounts under 8
this Act, a State or eligible entity may not— 9
(A) provide any priority or preference for 10
homebuyers who are acquiring eligible homes 11
with a mortgage loan made, insured, guaran-12
teed, or otherwise assisted by the State housing 13
finance agency for the State, any other housing 14
agency of the State, or an eligible entity when 15
applicable; or 16
(B) seek to recoup any funds associated 17
with the provision of downpayment assistance 18
to the qualified homebuyer, whether through 19
premium pricing or otherwise, except as pro-20
vided in subsection (g) or otherwise authorized 21
by the Secretary. 22
(g) R
ECAPTURE AND REALLOCATION.—The Sec-23
retary shall require changes in a grantee’s policy or dis-24
tribution of funds or recapture any amounts remaining 25
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available to a grantee, and reallocate such funds among 1
other States and eligible entities, if the Secretary deter-2
mines in his or her sole discretion that— 3
(1) a State or eligible entity— 4
(A) has not demonstrated the capacity to 5
expend grant funds in a timely manner that 6
furthers the purposes under this Act; or 7
(B) is distributing or plans to distribute 8
grant funds in a manner that results or will 9
predictably result in qualified homebuyers from 10
racial or ethnic groups that have faced historic 11
obstacles to homeownership failing to receive 12
the benefits of such funds in proportion to their 13
population among qualified homebuyers in the 14
relevant area; or 15
(2) there is insufficient demand among qualified 16
eligible entities to distribute funds. 17
(h) U
NIFORMITY AND PROGRAMSTANDARDIZA-18
TION.—The Secretary shall establish a uniform set of re-19
quirements to which each State and eligible entity receiv-20
ing grant amounts under this Act shall comply. 21
SEC. 4. QUALIFIED HOMEBUYERS. 22
(a) R
EQUIREMENTS.—Assistance from grant 23
amounts under this Act may be provided only on behalf 24
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of a homebuyer who meets all of the following require-1
ments: 2
(1) I
NCOME.—The household of the homebuyer 3
has an income that does not exceed— 4
(A) 120 percent of median income for the 5
area (as determined by the Secretary) within 6
which— 7
(i) the eligible home to be acquired 8
using such assistance is located; or 9
(ii) the place of residence of the home-10
buyer is located; or 11
(B) in the case of a homebuyer acquiring 12
an eligible home that is located in a high-cost 13
area, as determined by the Secretary, 140 per-14
cent of the median income for the area within 15
which the eligible home to be acquired using 16
such assistance is located. 17
(2) F
IRST-TIME HOMEBUYER .—The homebuyer, 18
as self-attested by the homebuyer, is a first-time 19
homebuyer, as defined in section 104 of the Cran-20
ston Gonzalez National Affordable Housing Act (42 21
U.S.C. 12704), except that— 22
(A) for the purposes of this Act the ref-23
erence in such section 104 to title II shall be 24
considered to refer to this Act; and 25
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(B) ownership of heir property shall not be 1
treated as owning a home for purposes of deter-2
mining whether a borrower qualifies as a first- 3
time homebuyer. 4
(3) F
IRST-GENERATION HOMEBUYER .—The 5
homebuyer, as self-attested by the homebuyer, is a 6
first-generation homebuyer. 7
(b) R
ELIANCE ONBORROWERATTESTATIONS.—No 8
additional documentation beyond the borrower’s attesta-9
tion shall be required to demonstrate eligibility under 10
paragraphs (2) and (3) of subsection (a), and no creditor 11
shall be subject to liability, including monetary penalties 12
or requirements to indemnify a Federal agency or repur-13
chase a loan that has been sold or securitized, for the pro-14
vision of downpayment assistance under this Act to a bor-15
rower who does not meet the eligibility requirements if the 16
creditor does so in good faith reliance on borrower attesta-17
tions of eligibility required by this Act or regulation. 18
SEC. 5. ELIGIBLE HOMES. 19
(a) I
NGENERAL.—Assistance from grant amounts 20
under this Act may be provided only in connection with 21
the acquisition by a qualified homebuyer of a residential 22
property that— 23
(1) consists of 1 to 4 dwelling units; and 24
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(2) will be occupied by the qualified homebuyer, 1
in accordance with such assurances and commit-2
ments as the Secretary shall require, as the primary 3
residence of the homebuyer, subject to section 4. 4
(b) R
EPAYMENT OFASSISTANCE.— 5
(1) R
EQUIREMENT.—The Secretary shall re-6
quire that, if a homebuyer to or on behalf of whom 7
assistance is provided from grant amounts under 8
this Act fails or ceases to occupy the property ac-9
quired using such assistance as the primary resi-10
dence of the homebuyer, except in the case of assist-11
ance provided in connection with the purchase of a 12
principal residence through a shared equity home-13
ownership program, the homebuyer shall repay to 14
the State or eligible entity, as applicable, in a pro-15
portional amount of the assistance the homebuyer 16
receives based on the number of years they have oc-17
cupied the eligible home up to 5 years, except that 18
no assistance shall be repaid if the qualified home-19
buyer occupies the eligible home as a primary resi-20
dence for 5 years or more. 21
(2) L
IMITATION.—Notwithstanding subpara-22
graph (A), a homebuyer to or on behalf of whom as-23
sistance is provided from grant amounts under this 24
Act shall not be liable to the State or eligible entity 25
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for the repayment of the amount of such shortage 1
if the homebuyer fails or ceases to occupy the prop-2
erty acquired using such assistance as the principal 3
residence of the homebuyer at least in part because 4
of a hardship, or sells the property acquired with 5
such assistance before the expiration of the 60- 6
month period beginning on such date of acquisition 7
and the capital gains from such sale to a bona fide 8
purchaser in an arm’s length transaction are less 9
than the amount the homebuyer is required to repay 10
the State or eligible entity under subparagraph (A). 11
SEC. 6. ELIGIBLE MORTGAGE LOANS. 12
Assistance from grant amounts under this Act may 13
be provided only in connection with the acquisition of an 14
eligible home involving a residential mortgage loan that— 15
(1) meets the underwriting requirements and 16
dollar amount limitations for acquisition by the Fed-17
eral National Mortgage Association or the Federal 18
Home Loan Mortgage Corporation; 19
(2) is made, insured, or guaranteed under any 20
program administered by the Secretary; 21
(3) is made, insured, or guaranteed by the De-22
partment of Agriculture; 23
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(4) is a qualified mortgage, as defined in sec-1
tion 129C(b)(2) of the Truth in Lending Act (15 2
U.S.C. 1639c(b)(2)); or 3
(5) is guaranteed for the benefit of a veteran. 4
SEC. 7. HOUSING COUNSELING REQUIREMENT. 5
(a) I
NGENERAL.—Except as provided pursuant to 6
section 4, assistance with grant amounts under this Act 7
may not be provided on behalf of qualified homebuyer un-8
less such homebuyer has completed a program of coun-9
seling with respect to the responsibilities and financial 10
management involved in homeownership before entering 11
into a sales purchase agreement or loan application, except 12
as provided under subsection (c), as the Secretary shall 13
require, provided through a counseling agency approved 14
by the Secretary. Such program may be delivered in-per-15
son, virtually, by telephone, or any other method the Sec-16
retary determines acceptable and shall include providing 17
information on fair housing rights and on the availability 18
of post-purchase housing counseling opportunities and in-19
struction on how to file a fair housing complaint. 20
(b) A
LTERNATIVEREQUIREMENT.—The Secretary 21
shall provide that if a qualified homebuyer is unable to 22
complete the requirement under subsection (a) within 30 23
days due to housing counseling agency capacity issues, a 24
State or eligible entity may allow such qualified home-25
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buyer to complete alternative homebuyer education to ful-1
fill the requirement under subsection (a), including home-2
buyer education that is provided through an online plat-3
form, and such qualified homebuyer shall be made aware 4
of the availability of post-purchase housing counseling op-5
portunities. 6
(c) R
EFERRALUPONMORTGAGEDENIAL.—The Sec-7
retary shall require that any qualified homebuyer who has 8
completed a counseling program referred to in subsection 9
(a) or alternative requirement pursuant to subsection (b), 10
who receives a commitment for assistance with grant 11
amounts under this Act and who applies for an eligible 12
mortgage loan for acquisition of an eligible home and is 13
denied such mortgage loan, shall be referred to a coun-14
seling agency described in subsection (a) for counseling 15
relating to such denial and for re-qualification. An eligible 16
homebuyer may be re-qualified at least 1 additional time 17
in a calendar year, or more as determined by the Sec-18
retary. 19
(d) F
UNDING.—Of any amounts appropriated to 20
carry out this Act, the Secretary shall use not less than 21
5 percent for costs of providing counseling referred to in 22
subsection (a). 23
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SEC. 8. ADMINISTRATIVE COSTS. 1
States and eligible entities receiving grant amounts 2
under this Act may use a portion of such amounts for 3
administrative costs up to the limit specified by the Sec-4
retary. 5
SEC. 9. REPORTS. 6
(a) A
NNUALREPORT.— 7
(1) I
N GENERAL.—For each fiscal year during 8
which the Secretary makes grants under this Act, 9
the Secretary shall submit to Congress, and make 10
publicly available online in an easily accessible loca-11
tion on the website of the Department of Housing 12
and Urban Development, a report that shall in-13
clude— 14
(A) demographic information regarding ap-15
plicants for and recipients of assistance pro-16
vided pursuant to this Act, including race, eth-17
nicity, and gender; 18
(B) information regarding the types and 19
amount of assistance provided, including down-20
payment assistance, assistance with closing 21
costs, and assistance to reduce mortgage loan 22
interest rates; and 23
(C) information regarding properties ac-24
quired using such assistance, including location, 25
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property value, property type, and first mort-1
gage type and investor. 2
(2) D
ISAGGREGATION.—All data included in an 3
report required under paragraph (1) shall be 4
disaggregated by ZIP Code or census tract level, 5
whichever is most feasible, and demographic infor-6
mation, including race, ethnicity, and gender, and 7
any other data points the Secretary deems appro-8
priate especially to observe equitable outcomes to en-9
sure the grant program is affirmatively furthering 10
fair housing. 11
(b) C
APACITYBUILDING.— 12
(1) I
N GENERAL.—Of any amounts appro-13
priated to carry out this Act, the Secretary shall use 14
not more than 1 percent to assist States and eligible 15
entities to develop capacity to meet the reporting re-16
quirements under subsection (a). 17
(2) C
ONSULTATION.—The Secretary shall en-18
courage States and eligible entities to consult with 19
community-based and nonprofit organizations that 20
have as their mission to advance fair housing and 21
fair lending. 22
(c) P
RIVACYREQUIREMENTS.— 23
(1) I
N GENERAL.—Each State and eligible enti-24
ty that receives a grant under this Act shall estab-25
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lish data privacy and security requirements for the 1
information described in subsection (a) that— 2
(A) include appropriate measures to ensure 3
that the privacy of the individuals and house-4
holds is protected; 5
(B) provide that the information, including 6
any personally identifiable information, is col-7
lected and used only for the purpose of submit-8
ting reports under subsection (a); and 9
(C) provide confidentiality protections for 10
data collected about any individuals who are 11
survivors of intimate partner violence, sexual 12
assault, or stalking. 13
(2) S
TATISTICAL RESEARCH.— 14
(A) I
N GENERAL.—The Secretary— 15
(i) may provide full and unredacted 16
information provided under subsection (a), 17
including personally identifiable informa-18
tion, for statistical research purposes in ac-19
cordance with existing law; and 20
(ii) may collect and make available for 21
statistical research, at the census tract 22
level, information collected under para-23
graph (1). 24
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(B) APPLICATION OF PRIVACY REQUIRE -1
MENTS.—A recipient of information under sub-2
paragraph (A) shall establish for such informa-3
tion the data privacy and security requirements 4
described in paragraph (1). 5
SEC. 10. COMPELLING INTEREST STUDY. 6
(a) I
NGENERAL.—The Secretary, in consultation 7
with the Attorney General, shall survey and compile evi-8
dence to determine whether or not there is a sufficient 9
history of discrimination in housing and, if so, the appro-10
priate remedy to redress such historic discrimination. 11
(b) R
ECOMMENDATIONS .—The Secretary shall make 12
conclusions and recommendations based on the evidence 13
compiled under subsection (a) and provide States and eli-14
gible entities granted awards under this Act an oppor-15
tunity to modify their programs for assistance under this 16
Act according to such recommendations. 17
SEC. 11. IMPLEMENTATION. 18
The Secretary shall have the authority to establish 19
by notice or mortgagee letter any requirements that the 20
Secretary determines are necessary for timely and effec-21
tive implementation of the grant program under this Act 22
and the expenditure of funds appropriated, which require-23
ments shall take effect upon issuance. 24
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SEC. 12. AUTHORIZATION OF APPROPRIATIONS. 1
There is authorized to be appropriated for grants 2
under this Act $100,000,000,000, and any amounts ap-3
propriated pursuant to this section shall remain available 4
until expended. 5
Æ
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