First-Time Home Buyer Support Bill
Official: First-Time Home Buyer Empowerment Act
IntroducedFebruary 10, 2026
Why This Matters
The First-Time Home Buyer Empowerment Act helps people buy their first homes by allowing them to use college savings funds without penalties. This makes it easier for new buyers to afford a house.
If you are a first-time homebuyer, you could access up to $35,000 from your college savings for your new home.
Affects: First-time homebuyers who have saved money in qualified tuition programs.
What changes is this bill making?
1. This bill allows first-time homebuyers to use money from college savings plans for home purchases. 2. Homebuyers can withdraw up to $35,000 from these plans without facing penalties. 3. The money must be used within 60 days to buy a primary residence. 4. If the home purchase is delayed, buyers can extend the time to use the funds. 5. If the home is sold within five years, the buyer may owe taxes on the withdrawn amount.
Who is affected?
First-time homebuyers who have saved money in qualified tuition programs.