City of Peoria Press Release
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Financial Assistance Available To First-time Homebuyers
Peoria Accepting Applications Starting Nov. 11
11/6/2009
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.
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