City of Peoria Downpayment Assistance Program

City of Peoria Downpayment Assistance Program now accepting applications!!!

The City of Peoria, through its Department of Planning and Growth Management, has re-opened the Downpayment Assistance (DPA) Program as of Wednesday, September 22, 2010. The DPA Program provides up to 20% of the purchase price of a property, with a maximum amount of $10,000, to income-eligible homebuyers. The Program is available Citywide to first-time homeowners. Special priority and emphasis is given to the Glen Oak School and Harrison School Neighborhood Impact Zones for non first-time homebuyers who purchase within the Zones. Buyers must use the property as their primary residence. Condos and townhomes purchases are included.

If you are interested and think you may qualify you will need to act quickly. With the funds available, City staff will only accept a total of 25 applications on a first come, first served basis. Applicants must be pre-approved with a lender of their choice at time of application submission. Contract-for-deed properties are not eligible for assistance.

Applications and Program Guidelines can be obtained from the Department of Planning and Growth Management (PGM) or at http://www.ci.peoria.il.us/planningforms. Any individual interested in applying or would like additional information should contact Nicole Frederick, Grants Coordinator at 494-8606 or nfrederick@ci.peoria.il.us.