Downpayment Toward Equity Act of 2025

Senate Bill

S. 967

119th Congress

Downpayment Toward Equity Act of 2025

In Committee

Introduced:Jun 11, 2025

Primary Sponsor

Mike Lee

R - UT

Cosponsors

3

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill aims to provide downpayment assistance to first-generation homebuyers, to help address the racial homeownership gap in the United States. It would provide funding and support to certain organizations to offer this assistance to qualified homebuyers who have not had family members own a home before.

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Introduced6/11/2025

StatusRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

ChamberSenate

Data from Congress.gov

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Vote Prediction

Downpayment Toward Equity Act of 2025

This bill aims to provide downpayment assistance to first-generation homebuyers, to help address the racial homeownership gap in the United States. It would provide funding and support to certain organizations to offer this assistance to qualified homebuyers w

Community Breakdown

Pass

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This bill aims to provide downpayment assistance to first-generation homebuyers, to help address the racial homeownership gap in the United States. It would provide funding and support to certain organizations to offer this assistance to qualified homebuyers who have not had family members own a home before.

Bill Number: 967
Introduced: 6/11/2025
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Downpayment Toward Equity Act of 2025
Bill Number: 967
Sponsor: No sponsor
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced: 6/11/2025
Summary: This bill aims to provide downpayment assistance to first-generation homebuyers, to help address the racial homeownership gap in the United States. It would provide funding and support to certain organizations to offer this assistance to qualified homebuyers who have not had family members own a hom

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill aims to provide downpayment assistance to first-generation homebuyers, to help address the racial homeownership gap in the United States. It would provide funding and support to certain organizations to offer this assistance to qualified homebuyers who have not had family members own a home before.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

No Central Bank Digital Currency Act or the No CBDC Act This bill generally prohibits the Federal Reserve Board, Federal Reserve Banks, the Department of the Treasury, and other agencies from issuing or using a central bank digital currency.

Key Points

Main provisions of the bill

Provides downpayment assistance to first-generation homebuyers, defined as those whose parents or legal guardians did not own a home
Targets assistance to minority and low-income populations, and neighborhoods with high concentrations of these groups
Funding and implementation would be through eligible entities like minority-owned banks, community development financial institutions, and local governments
Aims to narrow and ultimately close the racial homeownership gap in the U.S.

How This Impacts Americans

Potential effects on citizens and communities

This bill would primarily benefit first-time, first-generation homebuyers from minority and low-income backgrounds, helping to increase homeownership rates and build generational wealth in these communities. It could lead to more families being able to afford a home, and help address longstanding racial disparities in housing access and ownership.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

967, 119th Congress (2025). "Downpayment Toward Equity Act of 2025". Source: Voter's Right Platform. https://votersright.org/bills/118-s-967

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