Reclaim Peoria Southside Homeownership Program

What is Reclaim Peoria Southside Homeownership Program?

Reclaim Peoria Southside Homeownership Program is down payment assistance for homebuyers in Peoria, Illinois, administered by Peoria Opportunities Foundation (POF) in partnership with Neighborhood House.

• Reclaim Peoria is a 2026 initiative by the Peoria Opportunities Foundation and Neighborhood House, funded by a ~$1M Health Equity Homeownership grant. POF purchases and renovates disinvested homes in 61605 ZIP, then sells them to low-income first-time buyers at $65,000-$70,000. Buyers must be at or below 80% AMI and obtain their own mortgage pre-approval.
• Below-market home prices.
• Homes renovated to high quality.
• Pre-approval and purchase support.
• South Peoria revitalization.
• Funding comes from Peoria City/County Health Department Health Equity Homeownership grant (~$1 million); City of Peoria Home Equity Fund.

Do you have to pay it back?

Reclaim Peoria Southside Homeownership Program is down payment assistance and is repaid under the terms set by Peoria Opportunities Foundation (POF) in partnership with Neighborhood House.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Reclaim Peoria Southside Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Reclaim Peoria Southside Homeownership Program limits household income to 80% of the area median income, which varies by county and household size.

• 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.

What kind of home can it be used for?

Reclaim Peoria Southside Homeownership Program caps the purchase price at $70,000.

• Eligible property types include Single Family.
• New construction is not eligible.
• Manufactured homes are not eligible.

Where does it apply?

Reclaim Peoria Southside Homeownership Program serves buyers purchasing in Peoria, Illinois.

• The program targets specific areas: 61605 ZIP code, City of Peoria South Side.

How do you apply?

Applications for Reclaim Peoria Southside Homeownership Program go through Peoria Opportunities Foundation (POF) in partnership with Neighborhood House, which publishes the current terms and the application steps on its own site.

1. 1

   Contact Peoria Opportunities Foundation (POF) in partnership with Neighborhood House to reserve funds

   Funds are reserved with the provider and are subject to availability.

2. 2

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.