Downpayment Toward Equity Act of 2024
Official title: A bill to provide downpayment assistance to first-generation homebuyers to address multigenerational inequities in access to homeownership and to narrow and ul… Show full official titleShow less
Official title: A bill 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.
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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.
- Introduced in Senate Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). S. 3930: Downpayment Toward Equity Act of 2024. 118th Congress. Open America. https://openamerica.io/bill/118-S-3930/
"S. 3930: Downpayment Toward Equity Act of 2024." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-3930/.
S. 3930, 118th Cong. (2026), https://openamerica.io/bill/118-S-3930/.
[S. 3930: Downpayment Toward Equity Act of 2024](https://openamerica.io/bill/118-S-3930/)