Crawford Introduces Bill to Assist First Generation Homeowners

CHICAGO – State Rep. Mike Crawford, D-Chicago, introduced new legislation to provide downpayment assistance to eligible first generation homebuyers, increasing access to affordable housing and the opportunity to build family stability and security. 

“We’ve all heard how much better it is to own than to rent; we know how owning a home develops long-term financial stability and growth. But buying a house isn’t what it used to be,” said Crawford. “Young renters and families aren’t able to invest in their own future, because they can’t afford to.”

Buying a home is over twice as expensive as it was 25 years ago, and the average household income does not reflect that increase. To counteract this disparity, Crawford introduced House Bill 4283, which would create the First-Generation Homebuyer Down Payment Assistance Program. Applicants purchasing homes in designated community priority areas, applicants with income below 80% of the median household income, and applicants purchasing homes in areas with low homeownership rates, high housing costs burdens, or limited access to affordable mortgage credit would be prioritized for financial assistance.

Similar legislation was implemented in Minnesota; Crawford plans to meet with Minnesotan representatives to discuss the bill and how it would work in practice. 

“Access to housing is a right, but it’s become a luxury available only to a select few that can actually afford it. And the federal government seems to harm more than help when it comes to affordability. It’s my hope that we can not only pass this bill, but start a progressive conversation on the state of housing in Illinois.”

Crawford’s legislation will be presented to the Illinois General Assembly for consideration.