First-time homebuyers could get a refundable federal tax credit worth up to $15,000. They could also transfer it to their mortgage lender and get the money at closing. The bill limits the credit by income, home price, and other rules, and it can require payback if the buyer leaves too soon.
Modern Action explains what the legislation does, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
First-Time Homebuyer Tax Credit Act of 2025 is a Senate bill committee Action. The latest recorded action: Read twice and referred to the Committee on Finance.
Latest action on S. 2402: Read twice and referred to the Committee on Finance.
Who this affects: This bill mainly affects people trying to buy their first main home, especially those who need more cash for a down payment or closing costs. It also directly affects mortgage lenders that want to turn the credit into upfront money at closing, because they would have to register with the Internal Revenue Service, the federal tax agency, and follow new rules. The IRS and settlement agents would also take on new checking and reporting work.
Why this matters: Buying a first home often fails because people cannot pull together enough cash for the down payment and closing costs. This bill tries to ease that problem by giving eligible buyers tax help they may be able to use right away. The income and home-price limits are meant to focus the benefit on more moderate buyers instead of expensive homes. At the same time, the payback rules, lender-transfer system, and IRS checks could make the program harder to use, and the bill does not say how much it would change home prices, housing supply, or federal spending.
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Officially: First-Time Homebuyer Tax Credit Act of 2025
First-time homebuyers could get a refundable federal tax credit worth up to $15,000. They could also transfer it to their mortgage lender and get the money at closing. The bill limits the credit by income, home price, and other rules, and it can require payback if the buyer leaves too soon.
Use this page to support, oppose, or ask Congress to amend S2402. Modern Action explains what the bill does, helps identify the right senators or representative, and drafts a bill-specific message you can edit and send.
Where it stands
Sitting in Finance
No vote scheduled. Constituent contact is what moves bills out of committee.
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Where this bill is in the process
Introduced
Introduced in Senate
Senate Committee
Under Senate committee consideration
Latest: Read twice and referred to the Committee on Finance. (7/23/2025)
Senate Floor Vote
Voted on by Senate
Passed Senate
Approved by Senate
House Review
Sent to House for consideration
Passed Both Chambers
Approved by both House and Senate
Signed into Law
Signed by the President
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Choose one clear position: support, oppose, or amend. Then pick any reasons or personal context you want included. Modern Action uses that input and the bill context to draft a message you can edit and send.
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This page gives you an opportunity to support, oppose, or ask for changes to First-Time Homebuyer Tax Credit Act of 2025, then contact the elected officials who can act. Modern Action drafts the message from your position and the reasons you select.
Modern Action keeps the action tied to the bill itself: what it does, where it is in the process (Committee Action), which office can still act, and what ask belongs in the message.
You are not starting from a blank form. Modern Action drafts the message around S2402, your stance, and the reasons you choose, then lets you edit and send when ready.
