Relating to: a first-time home buyer purchasing assistance fund and loan program and making an appropriation. (FE)

AB 917 creates a $150 million First-Time Home Buyer Purchasing Assistance Fund to provide interest-free loans for eligible buyers. It directly affects first-time homebuyers who have never owned a home (or lost one to foreclosure), earn at or below 100% of local median income, complete homebuyer education, and occupy the home as their primary residence. Loans cover up to $35,000 or 10% of the home’s purchase price (whichever is lower) for down payments, closing costs, and other expenses, with 12.5% forgiveness after 2.5 years and full forgiveness after 10 years. Repayment is triggered if the home is sold, stops being the primary residence, or if the borrower violates loan terms. The program is administered by Wisconsin’s Housing and Economic Development Authority.