American Dream for All Act

The American Dream for All Act would create a HUD pilot program that provides capitalization grants to eligible state, territorial, and Indian tribal agencies (including housing finance agencies) to fund a revolving State loan fund. The funds would be used to issue down payment assistance loans to certain buyers—primarily first-time or first-generation homebuyers with household income up to 150% of the area median income. The loans would be capped at 3% to 20% of the purchase price, with maximum loan amounts scaled by the area’s cost category (up to $150,000 in high-cost areas, $100,000 in medium-cost areas, or $50,000 in low-cost areas). Repayment would be owed when the home is sold, with a formula that returns the loan amount plus a share of any appreciation, or the full loan amount if the home depreciates in value. The program emphasizes rapid loan distribution (first-come, first-served or by lottery), requires borrower education and counseling, and permits pre-purchase loan offers and a one-time renewal option. The initiative would be funded in 2026–2030 and includes annual reporting to HUD and Congress.