City of Peoria Press Release
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Financial Assistance Available To First-time Homebuyers
City of Peoria Accepting Applications Starting Nov. 11
PEORIA, Ariz. (Nov. 4, 2009) – Peoria will accept
applications starting Wednesday, Nov. 11 for financial assistance to first-time
homebuyers who purchase a home in Peoria.
Applicants must make less than $36,900 a year for
singles; $42,150 for two-people; $47,450 for three people; $52,700 for four
people; and $56,900 for five people. A chart continues to outline income limits
up to a family of ten.
Qualified applicants will be placed on a waiting
list. Assistance will be dispensed on a first-come, first-served basis. The
amount of assistance will be up to $10,000; however, an additional $5,000 in
funding may be provided to qualified homebuyers who choose to purchase a
foreclosed home in Peoria. Applicants must not have owned and occupied a home in
the past three years and are purchasing a primary residence. Initial
requirements for this program include completing a homeownership education class
with a certified counseling agency and providing proof of mortgage loan
pre-approval. For additional requirements and information, visit
www.peoriaaz.gov/homebuyerassist or call Peoria’s Neighborhood and
Revitalization Division at 623-773-5147.