The $15,000 First-Time Homebuyer Tax Credit is a proposed federal tax credit introduced in 2025 to assist eligible first-time homebuyers.
This refundable tax credit offers up to $15,000, or 10% of the home’s purchase price—whichever is less—to help cover down payments and closing costs.
Key Features:
- Eligibility: Available to first-time homebuyers who haven’t owned a home in the past 36 months.
- Refundable Credit: The credit is refundable, meaning if the credit exceeds your tax liability, you could receive the difference as a refund.
- Usage: The credit can be applied toward the purchase of a primary residence.
Current Status:
As of now, the $15,000 First-Time Homebuyer Tax Credit is a proposed bill and has not yet been enacted into law.
It was introduced in the House and Senate in July 2025 but is still under consideration.
For Trealtorr Clients:
While the credit is not yet available, it’s essential to stay informed about its progress.
If enacted, this credit could significantly reduce the upfront costs of purchasing a home.
Our team at Trealtorr is committed to keeping you updated on this and other potential assistance programs to make your homebuying journey as smooth as possible.
Questions? Check out our Frequently Asked Questions
or give us a call at +1 (347) 831-6085