CHICAGO – Governor JB Pritzker announced the reopening of a homeownership program designed to help families across the state of Illinois. Offered through the Illinois Housing Development Authority, the Opening Doors program is designed to aid lower-income borrowers and households of color who have historically faced steeper barriers in their path toward homeownership with $6,000 in forgivable assistance for down payment and/or closing costs. This latest round of assistance is funded through $10 million in Rebuild Illinois capital funds and is expected to assist more than 1,600 homebuyers. Originally launched in Dec. 2020, Opening Doors assisted more than 5,800 first-time and repeat homebuyers with $35 million in Rebuild Illinois capital funds.
“For generations, home ownership has paved a pathway to prosperity for working families,” said Governor JB Pritzker. “Unfortunately, Black and Brown people who sought to achieve this, faced insurmountable odds and, because of a prejudiced system, were left behind. We are righting that wrong and breaking down barriers with this round of funding.”
According to the U.S. Census, 75% of white families in Illinois own their homes. In comparison, 39% of Black families and 53% of Latinx families own their homes. Illinois faces a significant homeownership gap based on race and programs like Opening Doors are utilizing Rebuild Illinois dollars to help narrow the gap. In addition to the financial assistance, the program is supported by a robust marketing and outreach campaign that engages HUD-approved housing counseling agencies, realtors, mortgage lenders and others who work with historically disinvested communities of color to increase awareness and promote homebuyer education among potential borrowers and industry professionals.
Interested homeowners can find additional information and a list of participating lenders at www.ihdamortgage.org.
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