The city of Moline is accepting applications for the Homebuyer Assistance Program funded through the Illinois Housing Development Authority. The program assists homebuyers with a zero percent deferred forgivable loan of $8,696 for down payment and closing costs. The program also has up to $26,400 for rehabilitation assistance in addition to the down payment assistance.
To qualify, homebuyers have to be at or below 80 percent area median income; attend two homebuyer classes covering credit, budget counseling, pre-purchase and post-purchase counseling; have at least $1,000 toward the down payment, plus expenses such as inspections before closing; and be approved for a conventional or FHA 30-year fixed rate mortgage by a lender approved to work with IHDA programs.
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To apply, contact Liliana Rodriguez at (309) 524-2040 or e-mail email@example.com.