State Rep. Cam Cavitt today introduced a plan to make homeownership more accessible for first-time homeowners in the state of Michigan. 

House Bills 5967 and 5973 would preserve Michigan’s First-Time Home Buyer Savings Program so families can continue to use the tool to save money. The savings program helps first-time buyers save for down payments through tax-advantaged accounts. This bills would ensure that eligible Michiganders can keep accessing state tax benefits while preparing to purchase a home. 

“This is an important step in making homeownership more accessible in the state of Michigan,” said Cavitt (R-Cheboygan). “We want families to establish roots here, but rising prices have made the goals of owning a home difficult for many. By extending this program, we’re making it easier for families who are saving their money and planning to purchase a home. Extending this savings program is a practical way to help these people without creating a new government program. We need to demonstrate Michigan’s firm commitment to housing accessibility and long-term financial stability for working families.” 

The bills have been referred to the House Committee on Regulatory Reform for further consideration.