First-Time Homebuyer Tax Credit Act of 2025 provides a refundable tax credit for first-time homebuyers.

The First-Time Homebuyer Tax Credit Act of 2025 amends the Internal Revenue Code to introduce a refundable tax credit for first-time homebuyers. This credit amounts to 10% of the purchase price of a principal residence, up to a maximum of $15,000 for joint filers and $7,500 for married individuals filing separately. The credit is subject to certain limitations, including a phaseout based on the taxpayer's modified adjusted gross income and area median income. The credit is also subject to recapture if the residence is sold or ceases to be the principal residence within four years of purchase.

First-Time Homebuyer Tax Credit Act of 2025 provides a refundable tax credit for first-time homebuyers.

The First-Time Homebuyer Tax Credit Act of 2025 amends the Internal Revenue Code to introduce a refundable tax credit for first-time homebuyers. This credit amounts to 10% of the purchase price of a principal residence, up to a maximum of $15,000 for joint filers and $7,500 for married individuals filing separately. The credit is subject to certain limitations, including a phaseout based on the taxpayer's modified adjusted gross income and area median income. The credit is also subject to recapture if the residence is sold or ceases to be the principal residence within four years of purchase.