Your Local, Trusted Realtor in the greater Peoria area
Jessica Ball, REALTOR - RE/MAX Traders Unlimited
309-687-4828309-687-4828
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Your Local, Trusted Realtor in the greater Peoria area
Helping families change their lives through finding a new home

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 123 SW JEFFERSON, Peoria, IL 61602 (MLS # 1201162)
    18
    2 beds,  2 full baths
    980 sqft  
    MLS 1201162
  2. Photo of 1258 KINGSBURY, Washington, IL 61571 (MLS # 1201144)
    25
    2 beds,  1 full, 1 half baths
    1,080 sqft   lot 5,227 sqft
    MLS 1201144
  3. Photo of 316 N WESTERN, Minier, IL 61759 (MLS # 1201142)
    29
    2 beds,  1 full bath
    978 sqft   lot 14,200 sqft
    MLS 1201142
  4. Photo of 1000 S 4TH, Pekin, IL 61554 (MLS # 1201141)
    18
    4 beds,  2 full, 1 half baths
    2,688 sqft   lot 5,663 sqft
    MLS 1201141
  5. Photo of 718 E MAYWOOD, Peoria, IL 61603 (MLS # 1201158)
    36
    4 beds,  2 full baths
    1,296 sqft   lot 8,276 sqft
    MLS 1201158
  6. Photo of 7247 N LAKESIDE, Peoria, IL 61614 (MLS # 1201156)
    25
    2 beds,  1 full, 1 half baths
    1,493 sqft  
    MLS 1201156
  7. Photo of 1416 GLENDALE, Pekin, IL 61554 (MLS # 1201151)
    30
    3 beds,  1 full, 2 half baths
    1,901 sqft   lot 8,960 sqft
    MLS 1201151
  8. Photo of 2224 GLENDALE, Pekin, IL 61554 (MLS # 1201146)
    36
    3 beds,  1 full bath
    1,144 sqft   lot 11,925 sqft
    MLS 1201146
  9. Photo of 108 PEBBLE, East Peoria, IL 61611 (MLS # 1201128)
    27
    2 beds,  1 full bath
    1,170 sqft   lot 10,890 sqft
    MLS 1201128
  10. Photo of 1615 SARATOGA, Pekin, IL 61554 (MLS # 1201120)
    30
    3 beds,  1 full bath
    1,016 sqft   lot 5,227 sqft
    MLS 1201120
  11. Photo of 203 E WHIPP, Bartonville, IL 61607 (MLS # 1201114)
    36
    3 beds,  1 full, 1 half baths
    1,015 sqft   lot 13,504 sqft
    MLS 1201114
  12. Photo of 38 N GOLD, Farmington, IL 61531 (MLS # 1201112)
    26
    4 beds,  2 full baths
    1,651 sqft   lot 10,890 sqft
    MLS 1201112
  13. Photo of 101 JAMES, East Peoria, IL 61611 (MLS # 1201111)
    27
    3 beds,  2 full baths
    1,188 sqft   lot 8,973 sqft
    MLS 1201111
  14. Photo of 342 E PRAIRIE, Farmington, IL 61531 (MLS # 1201106)
    25
    Pre-Foreclosure
    or Short Sale
    3 beds,  1 full, 1 half baths
    1,176 sqft   lot 9,148 sqft
    MLS 1201106
  15. Photo of 1209 STATE, Pekin, IL 61554 (MLS # 1201105)
    25
    3 beds,  1 full bath
    1,116 sqft   lot 6,534 sqft
    MLS 1201105
  16. Photo of 3009 W SOUTHPORT, Peoria, IL 61615 (MLS # 1201097)
    19
    2 beds,  1 full bath
    1,434 sqft   lot 9,720 sqft
    MLS 1201097
  17. Photo of 906 N NILES, Metamora, IL 61548 (MLS # 1201154)
    36
    3 beds,  2 full baths
    1,444 sqft   lot 6,098 sqft
    MLS 1201154
  18. Photo of 101 WINGATE, Avon, IL 61415 (MLS # 1201131)
    19
    3 beds,  1 full, 1 half baths
    1,200 sqft   lot 15,600 sqft
    MLS 1201131
  19. Photo of 607 W MAYWOOD, Peoria, IL 61604 (MLS # 1201130)
    35
    3 beds,  1 full, 1 half baths
    2,030 sqft   lot 10,400 sqft
    MLS 1201130
  20. Photo of 3321 W KING JAMES, Peoria, IL 61615 (MLS # 1201123)
    19
    2 beds,  2 full, 1 half baths
    1,248 sqft  
    MLS 1201123
  21. Photo of 3309 W RESERVOIR, Peoria, IL 61615 (MLS # 1201094)
    36
    Open House
    3 beds,  1 full bath
    1,478 sqft   lot 9,555 sqft
    MLS 1201094
  22. Photo of 132 LASALLE, Creve Coeur, IL 61610 (MLS # 1201090)
    12
    2 beds,  1 full bath
    946 sqft   lot 8,692 sqft
    MLS 1201090
  23. Photo of 431 DOERING, East Peoria, IL 61611 (MLS # 1201089)
    36
    3 beds,  1 full bath
    1,140 sqft   lot 3,663 sqft
    MLS 1201089
  24. Photo of 927 E EUCLID, Peoria Heights, IL 61616 (MLS # 1201083)
    20
    2 beds,  2 full baths
    1,200 sqft   lot 7,841 sqft
    MLS 1201083
  25. Photo of 4217 S WILEY, Bartonville, IL 61607 (MLS # 1201081)
    21
    2 beds,  1 full bath
    780 sqft   lot 6,098 sqft
    MLS 1201081
  26. Photo of 1007 S 10TH, Pekin, IL 61554 (MLS # 1201075)
    36
    4 beds,  2 full, 1 half baths
    1,283 sqft   lot 504 sqft
    MLS 1201075
  27. Photo of 5527 E CREWS, Chillicothe, IL 61523 (MLS # 1201064)
    36
    3 beds,  1 full, 1 half baths
    1,288 sqft   lot 9,148 sqft
    MLS 1201064
  28. Photo of 5506 N HAMILTON, Peoria, IL 61614 (MLS # 1201129)
    22
    3 beds,  1 full bath
    1,040 sqft   lot 9,583 sqft
    MLS 1201129
  29. Photo of 1611 W WILLCOX, Peoria, IL 61604 (MLS # 1201078)
    21
    3 beds,  1 full bath
    816 sqft   lot 5,096 sqft
    MLS 1201078
  30. Photo of 607 S Main, Washington, IL 61571 (MLS # 1201071)
    36
    3 beds,  1 full bath
    1,598 sqft   lot 23,958 sqft
    MLS 1201071
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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 1/18/19 11:49 PM PST

 
 

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