Aug 22, 2008

Great opportunities for a first time home buyer

The City of Peoria, the State of Illinois, and the Federal Government have numerous programs to help people buy their first home. Depending on your income and the location of the home, you could be eligible for downpayment assistance of up to $10,000, a Federal tax credit of $7,500, a low interest loan, and funds to help you rehabilitate an older home. SUCH A DEAL !!!

Up to $7,500 Federal tax credit for qualified first-time homebuyers. Act soon.

If you're looking for a new home, there's reason to act now! Congress has just approveda tax credit to help first-time homebuyers (or those who have not owned a home within the past three years).

Click here to learn more. The credit is a federal tax credit subject to qualifications, conditions and restrictions and repayment of the tax credit is required. The credit is only available for a limited time. Details are set forth in PL 110-289 and general information is available at

City of Peoria programs to help home buyers are shown on the links below:
Housing Rehabilitation Form
For development and management of residential rehabilitation programs in community development areas, including loans and grants, contact Neighborhood Development, Twin Towers, Room 402, 494-8656.
Or contact your local banker.