H.R. 10053 — Public Service Homeownership Assistance Act

This section establishes a downpayment assistance loan program under which, beginning January 1, 2027, the Secretary of Housing and Urban Development may issue loans of $10,000 to $20,000 to covered public employees (i.e., federal, state, tribal, or local government workers) for the purchase of 1- to 4-unit residential properties. Loans may be used only for down payments or closing costs, must be repaid over 10 years beginning upon sale, non-occupancy for at least 182 days in a year, or cash-out refinance, and remain subordinate to any first mortgage.