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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 1007 E MELBOURNE, Peoria, IL 61603 (MLS # 1204905)
    19
    3 beds,  1 full bath
    1,048 sqft   lot 8,276 sqft
    MLS 1204905
  2. Photo of 617 MOSS TERRACE, Peoria, IL 61606 (MLS # 1204920)
    18
    2 beds,  1 full bath
    1,000 sqft   lot 6,862 sqft
    MLS 1204920
  3. Photo of 315 W HAWTHORNE, Elmwood, IL 61529 (MLS # 1204915)
    27
    2 beds,  1 full bath
    1,070 sqft   lot 6,098 sqft
    MLS 1204915
  4. Photo of 207 BURNING TREE, Pekin, IL 61554 (MLS # 1204904)
    28
    3 beds,  2 full, 2 half baths
    2,434 sqft   lot 23,958 sqft
    MLS 1204904
  5. Photo of 640 ROOSEVELT, Creve Coeur, IL 61610 (MLS # 1204902)
    32
    3 beds,  1 full, 1 half baths
    1,172 sqft   lot 6,550 sqft
    MLS 1204902
  6. Photo of 1709 W THAMES, Peoria, IL 61614 (MLS # 1204895)
    21
    3 beds,  2 full baths
    2,024 sqft  
    MLS 1204895
  7. Photo of 4104 N HOLLYRIDGE, Peoria, IL 61614 (MLS # 1204892)
    30
    Open House
    2 beds,  1 full bath
    888 sqft   lot 7,841 sqft
    MLS 1204892
  8. Photo of 2622 W WILLOW LAKE, Unit 322, Peoria, IL 61614 (MLS # 1204891)
    17
    2 beds,  1 full bath
    938 sqft  
    MLS 1204891
  9. Photo of 1420 W MAYWOOD, Peoria, IL 61604 (MLS # 1204883)
    21
    2 beds,  1 full, 1 half baths
    780 sqft   lot 4,792 sqft
    MLS 1204883
  10. Photo of 524 W GLEN, Peoria, IL 61614 (MLS # 1204881)
    25
    3 beds,  1 full bath
    1,241 sqft   lot 6,534 sqft
    MLS 1204881
  11. Photo of 220 DEVRON, East Peoria, IL 61611 (MLS # 1204906)
    34
    3 beds,  1 full, 1 half baths
    1,205 sqft   lot 8,120 sqft
    MLS 1204906
  12. Photo of 119 BERRY, Green Valley, IL 61534 (MLS # 1204896)
    36
    2 beds,  1 full bath
    779 sqft   lot 8,100 sqft
    MLS 1204896
  13. Photo of 1111 W WILLOW, Peoria, IL 61614 (MLS # 1204876)
    31
    2 beds,  1 full bath
    708 sqft   lot 11,326 sqft
    MLS 1204876
  14. Photo of 301 NW Main, Hopedale, IL 61407 (MLS # 1204871)
    31
    2 beds,  1 full bath
    654 sqft   lot 21,300 sqft
    MLS 1204871
  15. Photo of 14521 N GRANDVIEW, Chillicothe, IL 61523 (MLS # 1204866)
    31
    3 beds,  2 full baths
    1,491 sqft   lot 17,860 sqft
    MLS 1204866
  16. Photo of 1017 N GLENWOOD, Peoria, IL 61606 (MLS # 1204874)
    22
    4 beds,  1 full, 1 half baths
    2,036 sqft   lot 5,280 sqft
    MLS 1204874
  17. Photo of 1201 W COLUMBIA, Peoria, IL 61606 (MLS # 1204862)
    33
    3 beds,  1 full, 2 half baths
    1,857 sqft   lot 6,534 sqft
    MLS 1204862
  18. Photo of 3125 N ISABELL, Peoria, IL 61604 (MLS # 1204860)
    32
    3 beds,  1 full bath
    1,180 sqft   lot 5,850 sqft
    MLS 1204860
  19. Photo of 30 W 4TH, Dallas City, IL 62330 (MLS # 1204858)
    17
    3 beds,  1 full bath
    1,127 sqft   lot 6,000 sqft
    MLS 1204858
  20. Photo of 129 KERFOOT, East Peoria, IL 61611 (MLS # 1204855)
    21
    2 beds,  1 full bath
    1,092 sqft   lot 4,356 sqft
    MLS 1204855
  21. Photo of 717 N IDAHO, West Peoria, IL 61604 (MLS # 1204854)
    35
    Open House
    3 beds,  1 full, 1 half baths
    1,172 sqft   lot 5,625 sqft
    MLS 1204854
  22. Photo of 527 W CALHOUN, Macomb, IL 61455 (MLS # 1204850)
    10
    5 beds,  1 full bath
    1,236 sqft   lot 10,800 sqft
    MLS 1204850
  23. Photo of 114 WOODLAWN, East Peoria, IL 61611 (MLS # 1204849)
    36
    3 beds,  1 full bath
    1,210 sqft   lot 15,682 sqft
    MLS 1204849
  24. Photo of 502 MANOR, Pekin, IL 61554 (MLS # 1204846)
    27
    4 beds,  1 full, 1 half baths
    1,472 sqft   lot 4,125 sqft
    MLS 1204846
  25. Photo of 1113 N BENEDICT, Chillicothe, IL 61523 (MLS # 1204833)
    36
    3 beds,  1 full bath
    994 sqft   lot 8,520 sqft
    MLS 1204833
  26. Photo of 3928 S GRANVILLE, Bartonville, IL 61607 (MLS # 1204828)
    22
    3 beds,  1 full bath
    988 sqft   lot 6,970 sqft
    MLS 1204828
  27. Photo of 2201 SIERRA, Pekin, IL 61554 (MLS # 1204861)
    21
    3 beds,  3 full baths
    1,440 sqft   lot 11,761 sqft
    MLS 1204861
  28. Photo of 5008 W JENNIFER, Bartonville, IL 61607 (MLS # 1204856)
    9
    3 beds,  1 full bath
    1,360 sqft   lot 11,094 sqft
    MLS 1204856
  29. Photo of 3810 S CHALMERS, Bartonville, IL 61607 (MLS # 1204843)
    36
    3 beds,  1 full, 1 half baths
    942 sqft   lot 7,100 sqft
    MLS 1204843
  30. Photo of 2116 COLE, East Peoria, IL 61611 (MLS # 1204839)
    19
    3 beds,  2 full baths
    1,457 sqft   lot 20,038 sqft
    MLS 1204839
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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 The Jessica Ball Team - 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 5/20/19 7:45 PM PDT

 
 

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