Illinois Home Affordability: Pritzker's IHDAccess & Harriss's Welcome Home
Fort Wayne News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Illinois Governor Pritzker unveils IHDAccess Home program, offering first-time buyers a thirty-year fixed-rate mortgage for up to six percent of a homes purchase price, capped at fifteen thousand dollars. The program is part of the broader Building Up Illinois initiative, which aims to boost new construction and buyer aid with fifty million dollars from the proposed twenty twenty-seven state budget. Meanwhile, Republican State Senator Erica Harriss introduces the Welcome Home Illinois bill, providing first-time buyers with a five hundred dollar non-refundable tax credit. Critics argue that extra taxes and spending make it harder for young families to buy homes, with the average buyer now forty years old and only twenty-one percent being first-timers.
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