Down Payment Assistance For Homebuyers

Missouri Housing Development Commission (MHDC) offers affordable interest rates as well as down payment and closing cost assistance to homebuyers in Missouri who qualify.  

Cash Assistance Payment (CAP) Plan

This Cash Assistance Payment (CAP) plan provides up to 4% of the mortgage amount to homebuyers to use toward downpayment and/or closing costs.

Non-Cash Assistant Payment (Non-CAP) Plan

This plan provides a lower mortgage interest rate to homebuyers do not need down payment or closing cost assistance.

First Place Loan Program

First Place Loans are available to home buyers that:

• Have not owned or had principal interest in a home in the past 3 years.
• Can meet credit guidelines (minimum credit score required).
• Can qualify financially with regard to income and purchase price limits.
• Plan to occupy the home within 60 days of loan closing.

Program benefits:

• Borrowers can receive cash assistance for down payment and closing costs equal to 4% of the mortgage amount.
• The cash assistance will be in the form of a second mortgage which will be forgiven if the borrower stays in the home for ten years.  After five years of living in the home, the 2nd mortgage will be reduced by 1/60th each month tunil the 10th year when it will be completely forgiven.

For more information contact an MHDC approved lender at MHDCLender.com 

Note: All programs subject to change without notice. All loans subject to lender approval.

Contact A
MHDC Lender