Skip to main content
S 3930 118th Congress Senate Finance and Financial Sector

Downpayment Toward Equity Act of 2024

Introduced: March 12, 2024 Introduced by: Warnock, Raphael G. Democratic · Georgia See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 12, 2024
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 12, 2024
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

Downpayment Toward Equity Act of 2024

This bill establishes a grant program through the Department of Housing and Urban Development for states and other entities to provide qualifying assistance to low-income, 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 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 March 12, 2024

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

 Related & companion bills 1
  • HR 4231 Related bill Downpayment Toward Equity Act of 2023
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 4
D
Kaine, Tim
Virginia · Mar 20, 2024
 D
Warner, Mark R.
Virginia · Mar 19, 2024
 D
Padilla, Alex
California · Mar 14, 2024
 D
Van Hollen, Chris
Maryland · Mar 12, 2024
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3930: Downpayment Toward Equity Act of 2024. 118th Congress. Open America. https://openamerica.io/bill/118-S-3930/
MLA
"S. 3930: Downpayment Toward Equity Act of 2024." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-3930/.
Bluebook (legal)
S. 3930, 118th Cong. (2026), https://openamerica.io/bill/118-S-3930/.
Markdown link
[S. 3930: Downpayment Toward Equity Act of 2024](https://openamerica.io/bill/118-S-3930/)
Report a problem