Grants, Downpayments And Closing Cost Assistance

• City of Peoria-through its Department of Planning and Growth Management, has the Downpayment Assistance (DPA) Program. The DPA Program provides up to 20% of the purchase price of a property, with a maximum amount of $10,000, to income-eligible homeowners. 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. 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).
• The American Dream Down Payment Act-is a down payment assistance initiative that allows grants to be given to participating jurisdictions to assist low-to-mid-income families and uniformed employees such as, policemen, firemen, sanitation, maintenance workers, and teachers who are employees of the participating state to achieve homeownership. Visit theirwebsite to learn more.
• Illinois Housing & Development Authority-Saving for a down payment can be a difficult task for many low-income residents of Illinois. To help turn renters into buyers, the Illinois Housing Development Authority’s Affordable Housing Trust Fund Program offers low- and very low-income individuals help via down payment and closing cost assistance. Visit theirwebsite for details.