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Jessica Ball, REALTOR - RE/MAX Traders Unlimited
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Your Local, Trusted Realtor
Serving buyers and sellers throughout the greater Peoria area

Downpayment Plus Program

If you’re applying for your first mortgage, you may be eligible for a grant of up to $6,000 through the Federal Home Loan Bank of Chicago (FHLB). The subsidy may be used for down payment and closing cost assistance, home buyer education costs (up to $700), and/or eligible rehabilitation costs associated with the purchase of a home. This Downpayment Plus grant will be provided by INB at the closing.

To be eligible, you must meet income and eligibility requirements, including:

  • Your total household income may not exceed 80 percent of the area median income (based on income guidelines published annually by the U.S. Department of Housing and Human Development (HUD).
  • You must contribute at least $1,000 toward the home purchase.
  • You must attend pre-purchase home buyer counseling to ensure you understand the buying process as well as ownership responsibilities.
  • You must use the home as your primary residence.
  • You must sign a five-year retention agreement and agree to a lien on the property for the amount of the DPP grant. DPP grants are forgiven over a period of five years (1/60th per full month). In the event of property sale or removal of the  Affordable Housing Program (AHP) lien prior to the end of the 5-year retention period, the homebuyer(s) must repay a pro rata of the grant.
  • You must meet INB's loan underwriting criteria.

Funds for this program are limited and will be awarded on a first-come, first-served basis until the funds are depleted. To find out if you’re eligible for a DPP subsidy, contact your Stacy Borho (NMLS #689948) at sborho@illinoisnationalbank.com or  309-303-1542

Below is list of homes for sale in the area that may be a good fit for first time home buyers looking to utilize this downpayment program.  For help in finding your first home, contact Jessica Ball - Your Local, Trusted Realtor with RE/MAX Traders Unlimted.  *This list of homes include single family homes priced between $50K and $130K, to see other homes please use the search functions, more info on the grant can be found at INBs site - https://www.illinoisnationalbank.com/loans/mortgages/downpayment-plus-program/


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  1. Photo of 5332 N STEPHEN, Peoria, IL 61615 (MLS # 1202686)
    32
    3 beds,  1 full bath
    1,484 sqft   lot 9,583 sqft
    MLS 1202686
  2. Photo of 721 W McDonough, Macomb, IL 61455 (MLS # 1202680)
    31
    3 beds,  1 full, 1 half baths
    1,432 sqft   lot 10,019 sqft
    MLS 1202680
  3. Photo of 60 S CEDAR, Farmington, IL 61531 (MLS # 1202679)
    17
    2 beds,  1 full bath
    1,008 sqft   lot 21,780 sqft
    MLS 1202679
  4. Photo of 705 S 10TH, Pekin, IL 61554 (MLS # 1202678)
    21
    3 beds,  1 full bath
    1,350 sqft   lot 5,000 sqft
    MLS 1202678
  5. Photo of 940 N Main, East Peoria, IL 61611 (MLS # 1202677)
    27
    2 beds,  1 full bath
    1,154 sqft  
    MLS 1202677
  6. Photo of 1508 TENNELL, Pekin, IL 61554 (MLS # 1202675)
    15
    2 beds,  1 full bath
    768 sqft   lot 5,227 sqft
    MLS 1202675
  7. Photo of 411 S MAPLE, Minier, IL 61761 (MLS # 1202673)
    36
    3 beds,  2 full baths
    1,300 sqft   lot 10,260 sqft
    MLS 1202673
  8. Photo of 1811 COLUMBUS, Pekin, IL 61554 (MLS # 1202672)
    22
    3 beds,  2 full baths
    1,850 sqft   lot 7,013 sqft
    MLS 1202672
  9. Photo of 4110 S LAFAYETTE, Bartonville, IL 61607 (MLS # 1202665)
    13
    3 beds,  1 full, 1 half baths
    1,401 sqft   lot 15,246 sqft
    MLS 1202665
  10. Photo of 403 S 3RD, Cuba, IL 61427 (MLS # 1202661)
    22
    3 beds,  2 full baths
    1,460 sqft   lot 13,068 sqft
    MLS 1202661
  11. Photo of 115 N LINCOLN, Washburn, IL 61570 (MLS # 1202684)
    36
    0 beds,  2 half baths
    2,508 sqft   lot 15,000 sqft
    MLS 1202684
  12. Photo of 109 N LINCOLN, Washburn, IL 61570 (MLS # 1202683)
    36
    4 beds,  1 full, 1 half baths
    1,664 sqft   lot 7,500 sqft
    MLS 1202683
  13. Photo of 407 MARY, Pekin, IL 61554 (MLS # 1202641)
    31
    2 beds,  1 full bath
    1,000 sqft   lot 6,600 sqft
    MLS 1202641
  14. Photo of 1412 N 12TH, Pekin, IL 61554 (MLS # 1202639)
    25
    Open House
    2 beds,  1 full, 1 half baths
    728 sqft   lot 5,500 sqft
    MLS 1202639
  15. Photo of 2422 W GILBERT, Peoria, IL 61604 (MLS # 1202628)
    28
    3 beds,  1 full, 1 half baths
    1,060 sqft   lot 7,841 sqft
    MLS 1202628
  16. Photo of 204 RAINBOW, Creve Coeur, IL 61610 (MLS # 1202625)
    23
    3 beds,  1 full, 1 half baths
    1,300 sqft   lot 22,216 sqft
    MLS 1202625
  17. Photo of 201 N OAK, Glasford, IL 61533 (MLS # 1202621)
    36
    3 beds,  1 full bath
    880 sqft   lot 7,405 sqft
    MLS 1202621
  18. Photo of 1404 N 11TH, Pekin, IL 61554 (MLS # 1202620)
    25
    Open House
    2 beds,  1 full, 1 half baths
    1,162 sqft   lot 5,500 sqft
    MLS 1202620
  19. Photo of 524 S 1ST, Canton, IL 61520 (MLS # 1202655)
    34
    3 beds,  2 full baths
    1,576 sqft   lot 8,987 sqft
    MLS 1202655
  20. Photo of 5330 N ISABELL, Peoria, IL 61614 (MLS # 1202647)
    28
    3 beds,  2 full baths
    1,640 sqft   lot 21,780 sqft
    MLS 1202647
  21. Photo of 111 GARDENA, East Peoria, IL 61611 (MLS # 1202631)
    25
    3 beds,  1 full bath
    1,108 sqft   lot 9,583 sqft
    MLS 1202631
  22. Photo of 1926 W SHERMAN, West Peoria, IL 61604 (MLS # 1202630)
    32
    4 beds,  1 full bath
    1,538 sqft   lot 6,534 sqft
    MLS 1202630
  23. Photo of 2000 W SHERMAN, West Peoria, IL 61604 (MLS # 1202618)
    36
    5 beds,  2 full, 1 half baths
    1,235 sqft   lot 7,175 sqft
    MLS 1202618
  24. Photo of 3012 N SHERIDAN, Peoria, IL 61604 (MLS # 1202617)
    36
    3 beds,  1 full, 1 half baths
    1,670 sqft   lot 6,256 sqft
    MLS 1202617
  25. Photo of 3723 LAUDER, Bartonville, IL 61607 (MLS # 1202610)
    20
    3 beds,  1 full bath
    1,019 sqft   lot 6,600 sqft
    MLS 1202610
  26. 3 beds,  2 full baths
    1,537 sqft   lot 9,912 sqft
    MLS 1202607
  27. Photo of 900 E SCIOTA, Peoria Heights, IL 61616 (MLS # 1202606)
    26
    2 beds,  2 full baths
    936 sqft   lot 7,500 sqft
    MLS 1202606
  28. Photo of 2820 W FARRELLY, Peoria, IL 61614 (MLS # 1202603)
    16
    3 beds,  2 full baths
    1,222 sqft  
    MLS 1202603
  29. Photo of 804 W MEADOWS, Peoria, IL 61604 (MLS # 1202587)
    28
    4 beds,  2 full baths
    1,414 sqft  
    MLS 1202587
  30. Photo of 725 W PURTSCHER, Peoria, IL 61614 (MLS # 1202530)
    27
    3 beds,  1 full bath
    1,080 sqft   lot 8,400 sqft
    MLS 1202530
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The data relating to real estate for sale on this web site comes in part from the Internet Data Excahnge program of Peoria Area Association of REALTORS®. Real estate listings held by brokerage firms other than Jessica Ball, REALTOR - RE/MAX Traders Unlimited are marked with the PAAR logo and detailed information about them includes the name of the listing brokers.

© Copyright 2019 Peoria Area Association of REALTORS®., All rights reserved.

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but is not guaranteed and should be independently verified through personal inspection and/or with the appropriate professionals.

The PAAR data on this page was last updated on 3/20/19 8:15 PM PDT

 
 

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