S 2920 117th Congress Senate Housing and Community Development Building construction Congressional oversight Government information and archives Government studies and investigations Housing and community development funding Housing finance and home ownership Interest, dividends, interest rates Intergovernmental relations

Downpayment Toward Equity Act of 2021

Introduced: September 30, 2021 Introduced by: Warnock, Raphael G. Democratic · Georgia See on congress.gov

Everywhere this bill has been 5 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 22, 2022

Committee on Banking, Housing, and Urban Affairs. Hearings held.

Jun 22, 2022

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-848.

Feb 10, 2022

Committee on Banking, Housing, and Urban Affairs. Hearings held.

Sep 30, 2021

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sep 30, 2021

Introduced in Senate

Plain-English summary Congressional Research Service

Downpayment Toward Equity Act of 2021

This bill establishes a grant program through the Department of Housing and Urban Development for states and other entities to provide qualifying assistance to certain first-time, first-generation home buyers in purchasing their first homes. Qualifying assistance includes assistance for mortgage down payments, mortgage closing costs, reduction of mortgage interest rates, subsidies for shared equity homes, or for certain preoccupancy modifications to a home to accommodate persons with disabilities.

The bill also establishes grant requirements regarding home buyer income, types of housing, homeowner occupancy, types of mortgages, and home buyer counseling.

What's happening now June 22, 2022

Committee on Banking, Housing, and Urban Affairs. Hearings held.

Committees of jurisdiction 1