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City of Peoria Down Payment Assistance Program

Administered by: City of Peoria Community Development Department · City · Forgivable Loan

Funding status: Active

How much assistance

Up to $5,000 or 10% of purchase price (Forgivable Loan)

0% forgivable loan; fully forgiven if homebuyer lives in the home for at least two years after closing.

Eligibility

  • Income limits: Income-eligible households (typically at or below 80% AMI — confirm current limits with the City of Peoria).
  • Purchase price limit: $125,000
  • First-time buyer required: Yes — Has not owned a home in the past three years.
  • Geographic restrictions: Home must be within a HUD Qualifying Census Tract in the City of Peoria, IL.
  • Homebuyer education required: Yes

How to Apply for City of Peoria Down Payment Assistance Program

Step 1: Contact the City of Peoria Community Development Department to confirm property eligibility (Qualifying Census Tract) and request an application. Complete HUD-approved homebuyer education, get pre-approved with a participating lender, and submit the combined application before closing.

Visit program website

Notes

Funded by CDBG/HOME dollars. Program operates in two-year cycles; verify current funding availability with the City before making an offer.

Cities Where This Program Is Available