Pierce County will receive $201,058 in funding to provide downpayment and closing cost assistance to lower income families hoping to purchase their first home, Congresswoman Jennifer Dunn announced recently.

“These funds will serve as a catalyst for lower income families trying to cross the threshold into homeownership,” said Dunn. “By helping people overcome the upfront expenses of buying their first home, they can realize their own American Dream and help rebuild entire communities in the process.”

American Dream Downpayment Initiative (ADDI) grants are being awarded for the first time through HUD’s HOME program. Under this new initiative, eligible low-income families buying their first home can qualify for downpayment and closing cost assistance of up to $10,000, or six percent of a home’s purchase price. Local communities will design their own downpayment assistance programs but ADDI is anticipated to create thousands of new first-time homeowners each year.