Why must the money be repaid?

Congress's intent was to provide as large a financial resource as possible for home buyers in the year that they purchase a home. In addition to helping first time home buyers, this will maximize the stimulus for the housing market and the economy, will help stabilize home prices, and will increase home sales. The repayment requirement reduces the effect on the Federal Treasury and assumes that home buyers will benefit from stabilized and, eventually, increasing future housing prices.