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Serving home 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 2107 County Road 500 N Street, Varna, IL 61375 (MLS # PA1208054)
    11
    3 beds,  1 full bath
    1,120 sqft   lot 34,528 sqft
    MLS PA1208054
  2. Photo of 1319 W Columbia Terrace NONE, Peoria, IL 61616 (MLS # PA1208058)
    24
    4 beds,  2 full, 2 half baths
    2,464 sqft   lot 5,227 sqft
    MLS PA1208058
  3. Photo of 914 E Paris Avenue, Peoria Heights, IL 61616 (MLS # PA1208055)
    9
    3 beds,  1 full, 1 half baths
    1,468 sqft   lot 5,600 sqft
    MLS PA1208055
  4. Photo of 2503 N Mission Road, Peoria, IL 61604 (MLS # PA1208051)
    36
    2 beds,  1 full bath
    1,288 sqft   lot 10,454 sqft
    MLS PA1208051
  5. Photo of 6 Richardson Court, Pekin, IL 61554 (MLS # PA1208050)
    27
    3 beds,  1 full bath
    884 sqft   lot 7,480 sqft
    MLS PA1208050
  6. Photo of 12310 N Us 24 Highway, Lewistown, IL 61542 (MLS # PA1208048)
    34
    2 beds,  1 full bath
    1,347 sqft   lot 1.43 ac
    MLS PA1208048
  7. Photo of 1709 Center Street, Pekin, IL 61554 (MLS # PA1208046)
    14
    2 beds,  1 full bath
    1,154 sqft   lot 6,000 sqft
    MLS PA1208046
  8. Photo of 512 E Washington Street, Morton, IL 61550 (MLS # PA1208041)
    22
    2 beds,  1 full, 1 half baths
    1,023 sqft   lot 10,890 sqft
    MLS PA1208041
  9. Photo of 100 Rogers Road, Marquette Heights, IL 61554 (MLS # PA1208039)
    30
    3 beds,  1 full bath
    1,117 sqft   lot 8,978 sqft
    MLS PA1208039
  10. Photo of 604 Locust Street, Henry, IL 61537 (MLS # PA1208009)
    36
    3 beds,  2 full baths
    1,248 sqft   lot 13,200 sqft
    MLS PA1208009
  11. Photo of 700 East Shore Drive, Pekin, IL 61554 (MLS # PA1208059)
    18
    2 beds,  1 full bath
    1,012 sqft   lot 8,142 sqft
    MLS PA1208059
  12. Photo of 436 N Mcarthur Street, Macomb, IL 61455 (MLS # PA1208057)
    23
    3 beds,  2 full baths
    1,734 sqft   lot 6,920 sqft
    MLS PA1208057
  13. Photo of 838 E Spruce Street, Canton, IL 61520 (MLS # PA1208030)
    17
    2 beds,  1 full, 1 half baths
    1,295 sqft   lot 6,413 sqft
    MLS PA1208030
  14. Photo of 5125 N Montclair Avenue, Peoria Heights, IL 61616 (MLS # PA1208021)
    33
    2 beds,  2 full baths
    1,172 sqft   lot 7,841 sqft
    MLS PA1208021
  15. Photo of 1013 Jefferson Street, Pekin, IL 61554 (MLS # PA1208006)
    35
    3 beds,  1 full, 1 half baths
    1,332 sqft   lot 7,020 sqft
    MLS PA1208006
  16. Photo of 705 Grand View Avenue, Pekin, IL 61554 (MLS # PA1208005)
    27
    2 beds,  1 full bath
    928 sqft   lot 12,282 sqft
    MLS PA1208005
  17. Photo of 2 Sherry Lane, Bartonville, IL 61607 (MLS # PA1208004)
    11
    3 beds,  2 full baths
    1,128 sqft   lot 11,220 sqft
    MLS PA1208004
  18. Photo of 3304 N Parish Avenue, Peoria, IL 61604 (MLS # PA1208003)
    30
    4 beds,  3 full, 1 half baths
    1,838 sqft   lot 8,775 sqft
    MLS PA1208003
  19. Photo of 217 S Bellevue Avenue, Peoria, IL 61604 (MLS # PA1207999)
    24
    1 bed,  1 full bath
    848 sqft   lot 30,180 sqft
    MLS PA1207999
  20. Photo of 105 E Ninth Street, Delavan, IL 61734 (MLS # PA1207998)
    7
    3 beds,  2 full baths
    1,304 sqft   lot 10,890 sqft
    MLS PA1207998
  21. Photo of 3725 W Verner Drive, Peoria, IL 61615 (MLS # PA1207992)
    25
    3 beds,  2 full baths
    903 sqft  
    MLS PA1207992
  22. Photo of 3 Dirksen Court, Pekin, IL 61554 (MLS # PA1207991)
    18
    3 beds,  1 full bath
    1,124 sqft   lot 7,480 sqft
    MLS PA1207991
  23. Photo of 5305 N Ronald Road, Peoria, IL 61614 (MLS # PA1207984)
    29
    3 beds,  1 full bath
    950 sqft   lot 7,841 sqft
    MLS PA1207984
  24. Photo of 603 Lorentz Street, Creve Coeur, IL 61610 (MLS # PA1207979)
    25
    3 beds,  1 full, 1 half baths
    1,596 sqft   lot 6,970 sqft
    MLS PA1207979
  25. Photo of 601 N Main Street, Roanoke, IL 61561 (MLS # PA1208001)
    32
    4 beds,  2 full baths
    3,122 sqft   lot 13,300 sqft
    MLS PA1208001
  26. Photo of 5519 E Truitt Road, Chillicothe, IL 61523 (MLS # PA1207982)
    17
    2 beds,  1 full bath
    1,624 sqft   lot 5.68 ac
    MLS PA1207982
  27. Photo of 6123 Northmoor Court, Peoria, IL 61614 (MLS # PA1207964)
    36
    3 beds,  2 full baths
    1,752 sqft   lot 12,196 sqft
    MLS PA1207964
  28. Photo of 2705 W Fountaindale Drive, Peoria, IL 61614 (MLS # PA1208010)
    36
    3 beds,  2 full baths
    1,742 sqft   lot 7,841 sqft
    MLS PA1208010
  29. Photo of 317 W Pine Street, Canton, IL 61520 (MLS # PA1207946)
    2
    4 beds,  1 full, 1 half baths
    1,842 sqft   lot 5,676 sqft
    MLS PA1207946
  30. Photo of 604 N Rohmann Court, West Peoria, IL 61604 (MLS # PA1207939)
    25
    3 beds,  1 full, 1 half baths
    1,596 sqft   lot 25,265 sqft
    MLS PA1207939
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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 8/18/19 10:35 PM PDT

 
 

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