The City of Peoria is looking for a few good developers to redevelop our historic core.

Feb 18, 2009

Federal Stimulus Bill

Excellent time to buy a home in the Heart of Peoria

FIRST-TIME HOME BUYER CREDIT First-time home buyers are eligible for a refundable tax credit equal to 10 percent of the purchase price of their home, up to $8,000, if they made the purchase after Jan. 1, 2009, but before Dec. 1, 2009.

Unlike a similar credit that Congress provided last year, you don’t have to pay this one back over 15 years. The new credit, however, does phase out for individuals with incomes over $75,000 or married couples with incomes over $150,000 who file their taxes jointly. Also, you forfeit the credit if you sell the house within three years.

More info here:

http://articles.moneycentral.msn.com/Investing/Extra/how-the-stimulus-bill-could-affect-you.aspx

In addition to the Federal Tax credit, the city has programs that help persons of moderate income buy homes._

City of Peoria programs to help home buyers are shown on the links below:
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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.
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Or contact your local banker.


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