H.R. 7753 — First Look for First-time Homebuyers Act of 2026

This section establishes a 15-day exclusive purchase period for first-time homebuyers (i.e., individuals or their spouses without prior ownership interest in a principal residence) when covered entities sell covered properties (i.e., single-family residential properties of 1 to 4 units owned or foreclosed upon by such entities, excluding Good Neighbor Next Door Program properties). Covered entities include the Federal Housing Administration, Federal Housing Finance Agency, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, and Department of Agriculture. During this period, which covered entities may extend to increase first-time homebuyer purchases, properties must be (1) offered at fair market value as determined by an independent third-party appraisal or broker price opinion completed no more than 60 days prior to listing (or, if unavailable, via a publicly disclosed standardized valuation model); (2) listed on a public website identifying availability only to first-time homebuyers and indicating remaining days; and (3) not bundled with other properties. Covered entities must issue implementing regulations, including first-time homebuyer verification processes, within one year of enactment, with the requirements effective 30 days after final rulemaking. Covered entities must submit semiannual reports to Congress on offers received, sales completed, pricing methodologies, and sale-to-fair-market-value ratios during the period (beginning six months after effectiveness); additionally, their Inspectors General must submit annual reports to Congress on compliance reviews of prior-year sales and publicly post such reports online.