First-Time Homebuyer Savings Act of 2026

Referred to the House Committee on Ways and Means.

2026-04-09

This bill would allow first-time homebuyers to set aside money in special savings accounts with tax advantages, meaning they wouldn't pay federal taxes on the money they save or the interest it earns as long as they use it toward buying their first home. The goal is to make it easier for young people and others buying a home for the first time to accumulate the down payment and closing costs they need without being penalized by taxes.