Moline Downpayment Housing Program

Geographic Scope: Specific neighborhoods in Moline, IL (neighborhoods 217, 219, 222, 223)

This program provides downpayment assistance and closing cost help for homebuyers purchasing homes in designated Moline neighborhoods. Funding is derived from Neighborhood Stabilization Program (NSP2) Program Income.

Award Amount

• 3% downpayment assistance + up to $1,500 closing costs for those earning 51-120% AMI
• 5% downpayment assistance + up to $1,500 closing costs for those earning under 50% AMI

Eligibility Requirements

• Home must be located within designated Moline neighborhoods (217, 219, 222, 223)
• Homebuyer must be an employee of a Moline business with physical establishment in Moline
• Minimum 20 hours per week employment in Moline
• Minimum $1,000 personal contribution to transaction
• Income at or below 120% of Area Median Income (AMI)

What They Fund

• Downpayment assistance (3-5% based on income level)
• Closing costs (up to $1,500)

Contact Information

• Phone: (309) 794-6711
• Address: 371 3rd Street W, Milan, Illinois 61264
• Email: [email protected]

Special Terms

• 5-year forgivable recapture agreement required
• HUD-certified Housing Counselor meeting required
• Homebuyer Education Class participation required

Application Process

Step 1: Complete Application

• Apply as soon as you begin seriously considering a home purchase
• GROWTH must approve your application prior to making an offer on a home
• Complete the Homebuyer Application 2025

Step 2: Submit Required Documentation
Provide copies of:

• Last 2 years W-2s
• Last 2 federal tax returns
• Last 30 days of pay stubs
• Most recent 2 months of bank statements

Step 3: Meet with HUD-Certified Housing Counselor

• Required meeting before making an offer
• HUD-approved housing counselors available
• Send email to schedule appointment

Step 4: Participate in Homebuyer Education Class

• One-day homebuyer education class/webinar required
• Classes held once per month
• Online registration available
• No cost to homebuyer
• Must receive certificate of completion

Step 5: Sign Forgivable Recapture Agreement

• 5-year forgivable recapture agreement required

Timeline: Apply early in the homebuying process; GROWTH approval required before making an offer