Chicago’s $21M Homebuying Boost

Chicago Mayor Brandon Johnson just dropped a major housing lifeline: the Homegrown Purchase Assistance Program, pumping $21 million toward down payments and closing costs for first-time homebuyers—especially in the African American community—to build generational wealth through homeownership. Funded by a $1.25 billion housing bond, the program requires buyers to complete education and contribute 1% of the home’s price, with city support covering up to 25%—and it stacks with other aid. Meanwhile, Governor J.B. Pritzker’s broader BUILD plan saw some delays, but key pieces made it into the FY27 budget. A big win: the IHDAccess Home program, getting $50 million to offer flexible state-backed mortgages—forgivable, deferred, or repayable—to first-time buyers. Overall, Illinois Housing Development Authority gets $442 million in FY27 to run its programs, showing serious statewide commitment to tackling housing. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/4920229afdfea235