GROWTH Moline NSP Program Income Downpayment Program

GROWTH Moline NSP Program Income Downpayment Program is a forgivable loan for homebuyers in Moline, Illinois, administered by Rock Island Economic Growth Corporation (GROWTH). 3–5% down payment assistance. Up to $1,500 closing cost assistance. 0% interest forgiven over 5 years. Free homebuyer education. NSP2 Program Income funding. Funding comes from Neighborhood Stabilization Program (NSP2) Program Income.

GROWTH Moline NSP Program Income Downpayment Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale before 5-year occupancy; prorated repayment. The assistance is recorded in second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

GROWTH Moline NSP Program Income Downpayment Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through GROWTH HUD-certified Housing Counseling; one-day homebuyer class (no cost). Residency requirement: Home must be in designated Moline census tracts. Property must be located in Moline census tracts 217, 219, 222, or 223. Income at or below 80% AMI. Note: This is distinct from the City of Moline's CDBG-funded program (which is already separately cataloged). A 2024 application form is available from GROWTH. [orig: assistance_percentage: 3–5% of purchase price plus up to $1,500 in closing costs; dpa_interest_rate: 0%; income_limit_amount: Per 2024 Rock Island-Moline MSA HUD income limits at 80% AMI].

GROWTH Moline NSP Program Income Downpayment Program limits household income to 80% of the area median income, which varies by county and household size. Income at or below 80% AMI for the Rock Island-Moline MSA per 2024 HUD income limits. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

GROWTH Moline NSP Program Income Downpayment Program caps the purchase price as follows: Home must be located within specific Moline neighborhoods (census tracts 217, 219, 222, 223). New construction is eligible. Manufactured homes are not eligible.

GROWTH Moline NSP Program Income Downpayment Program serves homebuyers purchasing in Moline, Illinois. The program targets specific areas: Specific Moline census tracts: 217, 219, 222, 223. Targeted neighborhoods: Moline Census Tracts 217, 219, 222, 223.

Applications for GROWTH Moline NSP Program Income Downpayment Program go through Rock Island Economic Growth Corporation (GROWTH), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.