The American Home Promise Plan
The American Home Promise Plan restores housing stability and opportunity by ensuring families (not corporations) own the foundation of their communities. Together, these policies protect primary residences, lower barriers for first-time buyers, curb investor dominance, and rebuild the nation’s supply of affordable starter homes.
American Housing Investment Act
Invest in communities around America to incentivize construction of 4 million affordable starter homes within five years.
- Offer tax credits, low-interest construction loans, and streamlined permitting to companies that build qualifying entry-level homes.
- Prioritize projects that partner with local governments, trade schools, and unions to create jobs and boost community development.
- Homes must be owner-occupied, energy-efficient, and priced for first-time buyers.
Fair Chance Homebuyer Act
A promise to everyday families to have the first opportunity to purchase homes before investors can buy residential properties.
- Establishes a 45-day waiting period before investors or corporations can purchase a listed single-family home.
- During the waiting window, only owner-occupant buyers and first-time homebuyers may submit offers.
- Set Market Transparency to require public disclosure when a property transitions from the owner-buyer window to investor eligibility.
- Enforcement & Penalties are built to carry financial penalties for agents or investors who bypass the waiting period (not-applicable towards Sales made by owner but must purchase their next primary residence during the investor window)
First-Time Buyer Closing-Cost Guarantee Act
Ensures that every qualified first-time homebuyer in America can afford to close on their first home by providing a federal guarantee that covers standard closing costs.
- Charge a 2% fee on investor purchases, with proceeds flowing into a first-time homebuyer fund (“investment ladder”)
- Eligible first-time buyers receive up to $10,000 toward closing costs, title fees, inspections, and related expenses.
- Cities and states can match federal funds for additional coverage or rate-buy-downs.
First-Home Reduced Mortgage Rate Act
Cut into the monthly payment barrier for first-time homeowners by guaranteeing fixed reduction from the lenders
- Guarantees a 2.00-point lower mortgage rate than the lender’s offered fixed rate for first-time buyers or those who haven’t owned a property in over 10 years.
- Eligibility applies only to primary residences purchased by first-time homeowners within local conforming limits.
- Funding supported by a federal rate-buydown program administered through FHA
- Safeguards that Includes price caps, occupancy requirements, and early-sale repayment rules to prevent speculation or abuse.
End Hedge Fund Control of American Homes Act
Strengthen transparency, rebuild consumer trust, and restore fairness for American ranchers
- Phases hedge funds out of owning single-family homes over 10 years—they must sell at least 10% of their SFR portfolio to families each year until they own zero
- A $50,000 per home, per year excise tax is charged on any hedge-fund-owned SFRs above the allowed amount during the phase-out; any future hedge fund purchase of an SFR triggers a 50% tax on fair market value
- Directs collected taxes into a national down payment assistance program for working- and middle-class homebuyers.
Home Owner Primary Residence Protection Act
Safeguards the homes of ordinary Americans by protecting primary residences from foreclosure or loss caused by financial crises, market collapse, or systemic bank failures.
- During a declared financial or housing crisis, primary homes below $500K cannot be foreclosed, repossessed, or auctioned for 12 months while stabilization measures are enacted.
- Homeowners automatically qualify for federally backed forbearance and payment freezes, with no penalties or credit damage, during banking or market emergencies.
- Prohibits institutional investors or banks from acquiring primary residences in bulk during crisis periods to prevent predatory buying or displacement.