The American Dream Act is a proposed and lead by Davin Keeley with the initiative to help first-time homebuyers achieve the milestone of owning property in the United States. This act would establish a $7,500 government grant awarded to eligible first-time buyers as a down payment or to cover closing costs, making homeownership more accessible and financially achievable for aspiring homeowners.
Purpose: The American Dream Act aims to restore hope and opportunity for hardworking Americans by promoting homeownership, a fundamental step in achieving long-term financial stability and building generational wealth. By giving first-time buyers a meaningful boost, the Act would support economic recovery, strengthen communities, and encourage pride of ownership across the country.
Grant Details:
• Amount: $7,500 per eligible individual or household.
• Eligibility: U.S. citizens or permanent residents purchasing their first home, who have not owned property within the past three years.
• Use of Funds: The grant can be applied toward a down payment, closing costs, or other necessary expenses tied directly to the home purchase.
Expected Impact:
The Act would empower first-time buyers to overcome initial financial barriers, widening access to homeownership and encouraging personal investment in American communities. By making homeownership a more attainable goal, the American Dream Act would contribute to a vibrant housing market and cultivate a renewed sense of ownership and pride among Americans.