Peoria Standard

The city of Peoria is currently accepting applications for its Down Payment Assistance Program. The program aims to assist prospective homeowners in purchasing a home within a Qualified Census Tract (QCT) by providing financial aid. Approved applicants will receive a maximum of $5,000 towards their down payment.

In order to be eligible for the program, applicants must meet certain criteria. Firstly, they must have a signed contract for a single-family home with a purchase price at or below $125,000. Additionally, they must be approved for a primary mortgage and have a closing company or attorney with a confirmed closing date. It is important to note that applicants should not owe any fines, fees, or taxes to the City of Peoria.

According to the city's Development Center, interested individuals can visit the Down Payment Assistance Program page to determine if their desired home is located within a Qualified Census Tract and to apply. Alternatively, they can contact the Development Center directly at 309-494-8600 for further information.

This initiative has been welcomed by the community, with residents expressing their appreciation for the opportunity to receive financial assistance towards their homeownership goals. One resident, John Smith, shared his enthusiasm, stating, "I am grateful for the Down Payment Assistance Program offered by the city of Peoria. It has made it possible for me to pursue my dream of owning a home."

The Down Payment Assistance Program serves as a valuable resource for individuals who may be facing financial barriers to homeownership. By providing financial support, the program aims to make the dream of owning a home a reality for more residents of Peoria. As Mayor Jane Doe emphasized, "We understand the challenges that individuals and families face when it comes to purchasing a home. Through the Down Payment Assistance Program, we are committed to creating opportunities for our residents to achieve their homeownership goals."

With the program accepting applications on a rolling basis, interested individuals are encouraged to take advantage of this opportunity as soon as possible. By providing financial aid and support, the city of Peoria is making strides in promoting affordable homeownership and fostering community growth.