MADISON – Governor Tony Evers signed several bills into law on Wednesday afternoon, one of which was authored by Representative Jessie Rodriguez (R-Oak Creek).
“Wisconsin is facing a housing shortage, resulting in soaring home prices with many homebuyers struggling to afford their first home. The biggest barrier to entering the housing market is the upfront costs” explained Rodriguez. “In today’s market, saving for a down payment is more expensive than ever. While this is generating wealth for current homeowners, it is putting the housing market out of reach for many renters seeking to buy their first home. Wisconsin Act 239 helps to tackle this issue head-on.”
Wisconsin Act 239 establishes a workforce home loan program by creating a 0% interest second mortgage for eligible first-time homebuyers through the Wisconsin Housing and Economic Development Authority.
“This bipartisan legislation will help alleviate the burdens of the upfront cost in today’s housing market and get young families into their first homes. These second mortgages are not just a financial policy – they are an investment in the workforce, families, and the future,” continued Rodriguez. “By lessening the burden of one of the biggest obstacles to buying a home, we open the door to opportunity for thousands of eager first-time homebuyers who are ready to step inside. I’m thankful to my colleague, Rep. Dan Knodl, for all his work on this initiative in previous sessions.”
“I’m grateful to the bipartisan coalition of coauthors and the various stakeholders such as Habitat for Humanity for working with me on this bill. I also want to thank my colleagues in the Assembly and Senate for their support of this proposal. Lastly, thank you to Governor Evers for signing this legislation into law,” concluded Rodriguez.
