The One Big Beautiful Bill: What It Means for Homebuyers

Hot off the press—July 4’s massive “One Big Beautiful Bill” may not deliver down-payment grants, but it locks in key homeownership perks and reshapes deductions. In this episode, Tim Lucas and Craig Berry unpack the housing highlights (and notable omissions) from the new law. You’ll learn:Mortgage Insurance Deduction: How the bill makes PMI write-offs permanent for itemizers—and who qualifies under the income limitsInterest Deduction Cap: Why keeping the $750,000 mortgage interest cap matters for everyday borrowersSALT Expansion: What boosting the state & local tax (property tax) deduction from $10K to $40K means—and why it phases out after 2029 for high earnersMissing First-Time Buyer Help: Why hopes for $25K grants or credits went unrealized—and how that may actually curb housing-price spikesCreative Workarounds: Tips for scouring local down-payment assistance programs now that federal aid isn’t in the packageFor the full deep dive, read the original article at: https://www.mortgageresearch.com/articles/one-big-beautiful-bill-first-time-buyers-and-homeowners/