I 
119TH CONGRESS 
2D SESSION 
H. R. 7244 
To require the Secretary of Housing and Urban Development to establish 
a first-time home buyers match program, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 27, 2026 
Ms. BYNUM introduced the following bill; which was referred to the Committee 
on Financial Services 
A BILL 
To require the Secretary of Housing and Urban Development 
to establish a first-time home buyers match program, 
and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘First-Time Home Buy-
ers Match Act’’. 
SEC. 2. FIRST-TIME HOME BUYERS MATCH PROGRAM. 
(a) IN GENERAL.—The Secretary of Housing and 
Urban Development shall, not later than 1 year after the 
date of the enactment of this section, establish a pilot pro-
gram through which the Secretary shall each year during 
VerDate Sep 11 2014 
21:21 Jan 30, 2026
Jkt 069200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H7244.IH
H7244
ssavage on LAPJG3WLY3PROD with BILLS
the duration of the pilot program, deposit into a qualifying 
savings account of each of 20,000 eligible prospective bor-
rowers an amount equal to the lesser of— 
(1) 50 percent of the amount an eligible person 
deposited into such account during such year; or 
(2) $5,000. 
(b) RESTRICTION.—The Secretary may not deposit 
amounts into any qualifying savings account if such ac-
count holds an amount that is greater than or equal to 
the amount that is 10 percent of the area median value 
of a single-family home in the area where the eligible pro-
spective borrower who owns such account resides. 
(c) REQUIREMENT.—To be eligible to receive 
amounts under this section, an eligible prospective bor-
rower must have completed homeownership counseling 
provided by a HUD-certified housing counseling agency. 
(d) USE OF AMOUNTS.—An eligible prospective bor-
rower who receives amounts under this section may only 
use such amounts for— 
(1) a downpayment associated with the pur-
chase of a single-family home; 
(2) title insurance and other closing costs asso-
ciated with the purchase of a single-family home; 
(3) real estate agent commissions associated 
with the purchase of a single-family home; 
VerDate Sep 11 2014 
21:21 Jan 30, 2026
Jkt 069200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H7244.IH
H7244
ssavage on LAPJG3WLY3PROD with BILLS
(4) appraisal and inspection fees associated 
with the purchase of a single-family home; 
(5) loan origination fees associated with the 
purchase of a single-family home; or 
(6) qualified home repairs, to be reported to the 
Secretary through a disclosure form. 
(e) RECAPTURE OF AMOUNTS.— 
(1) SECOND MORTGAGE.—The amount provided 
to a participant under this section shall be consid-
ered a second mortgage on the home, as described 
in this subsection. 
(2) TERM.—The term of the second mortgage 
shall be equal to 36 months. 
(3) REDUCTIONS.—The amount of the second 
mortgage shall be reduced by 1/36th on the last day 
of each month of occupancy following the date of the 
disbursal of the amount. 
(4) RECAPTURE.—If the participant sells or 
stops living in the home, the participant shall owe to 
the Secretary the amount due on the second mort-
gage as of the date that the home is sold or vacated. 
(f) TERMINATION.—The program established under 
this section shall terminate on the date that is 5 years 
after the date of the enactment of this section. 
VerDate Sep 11 2014 
21:21 Jan 30, 2026
Jkt 069200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H7244.IH
H7244
ssavage on LAPJG3WLY3PROD with BILLS
(g) REPORT.—The Secretary of Housing and Urban 
Development shall, not later than 180 days after the date 
described in subsection (e), submit a report to the Com-
mittee on Financial Services of the House of Representa-
tives and the Committee on Banking, Housing and Urban 
Affairs of the Senate a report on the effectiveness of the 
pilot program established under this section that in-
cludes— 
(1) the total number of participants that en-
rolled in the program; 
(2) the average amount saved by participants 
and the total amount of matching funds disbursed; 
(3) the number of participants who successfully 
closed a transaction to purchase a single-family 
home using amounts provided through the program; 
(4) data on income levels, racial and ethnic 
backgrounds, and zip codes of participants; 
(5) a comparison of mortgage default rates be-
tween program participants and a control group of 
non-participant first-time buyers in the same areas; 
(6) an evaluation of the effectiveness of the in-
stitutions managing qualifying savings account in 
managing such accounts; 
VerDate Sep 11 2014 
21:21 Jan 30, 2026
Jkt 069200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H7244.IH
H7244
ssavage on LAPJG3WLY3PROD with BILLS
(7) the percentage of participants that used 
amounts provided under this section for qualifying 
repairs and the average cost of such repairs; and 
(8) an assessment of whether the pilot program 
established under this section helped participants 
have the amounts required to purchase single-family 
home. 
(h) DEFINITIONS.—In this section: 
(1) ELIGIBLE PROSPECTIVE BORROWER.—The 
term ‘‘eligible prospective borrower’’ means a person 
who— 
(A) is a citizen of the United States; 
(B) is 18 year of age, or older; 
(C) is a first-time homebuyer, as such term 
is defined in section 104 of the Cranston Gon-
zalez National Affordable Housing Act; 
(D) has not more than $75,000 in liquid 
assets, as determined by the Secretary; and 
(E) earns not more than 120 percent of 
the area median income in the area in which 
the person resides. 
(2) QUALIFYING
HOME
REPAIRS.—The term 
‘‘qualifying home repairs’’ means home repairs made 
after an inspect to address health, safety, or struc-
tural integrity issues identified in a certified home 
VerDate Sep 11 2014 
21:21 Jan 30, 2026
Jkt 069200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H7244.IH
H7244
ssavage on LAPJG3WLY3PROD with BILLS
inspection report that are recommended by a third- 
party, licensed home inspector and completed not 
later than 20 days of the date on which the purchase 
transaction for the home closed. 
(3) QUALIFYING SAVINGS ACCOUNT.—The term 
‘‘qualifying savings account’’ means a savings ac-
count opened by an eligible prospective borrower at 
an insured depository institution or an insured credit 
union. 
(4) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of Housing and Urban Development. 
Æ 
VerDate Sep 11 2014 
21:21 Jan 30, 2026
Jkt 069200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6301
E:\BILLS\H7244.IH
H7244
ssavage on LAPJG3WLY3PROD with BILLS