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118th Congress Finance and Financial Sector

S. 3930: Downpayment Toward Equity Act of 2024

Introduced

  1. Introduced (completed)Mar 12, 2024
  2. Passed Senate (not reached)
  3. Passed House (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in Senate, Mar 12, 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.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

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Amendments

0 offered

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Cosponsors

6

Who scored on this bill

0 points earned

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Other bills by Raphael Warnock

History

  1. Mar 12, 2024Introduced in the Senate by Raphael Warnock.
Show the full action history (2 actions)
  1. Mar 12, 2024Introduced in Senate
  2. Mar 12, 2024Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.