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Statewide Home Buyer Programs

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Missouri Housing Development Commission,
the state housing finance agency, offers firsttime
home buyers the opportunity to own a
home.

Available for those who:

 Have not owned or had principal interest in
a home in the past three years
 Have qualifying credit (minimum credit
score required)
 Meet income and purchase price limits
 Household income limits are based on the
total gross annual household income for all
residents age 18 or older who will live in the
home. Income includes wages, overtime,
bonuses, commissions, child support,
alimony and earnings from a second job,
business and investments.
 Purchase price limits are the same
throughout the state. The properties can be
single-family detached homes, 1/2 duplex,
semi-detached homes, condominiums,
townhomes, or manufactured homes on a
permanent foundation. Duplexes are
eligible, provided one unit is owneroccupied
and the units are at least five
years old.
 Loans made in the program may be subject
to recapture tax provisions under federal
law.
 The homebuyer must occupy the home with
60 days of loan closing.
 Borrowers should contact one of our
certified lenders throughout the state. A list
of them can be found at www.mhdc.com.
Program Details:
 3% cash assistance loan for down payment and
closing costs
 Cash assistance will be in the form of a forgivable
second mortgage after occupancy of property for
five years
 30 year fixed rate mortgage (FHA, VA, USDA Rural
Development, Fannie Mae qualified)
 Homes purchased must be located outside of the 100 year
flood plain