First Place Loan Program is a 30-year, fixed-rate mortgage loan designed for first-time homebuyers and veterans to be used for down payment and closing costs. To become an eligible borrower you must meet minimum credit score standards and you have to live on the property within 60 days of loan closing. The first-time home buyer requirements do not apply for homes bought in a targeted area. First Place Loan Program can be combined with the First Place Program. Income limits and purchase price limits also apply and your loan may be subject to federal recapture tax provisions. Your household income limits contain the total gross annual household income of all home’s adult residents. The total income includes wages, commissions, child support, alimony, bonuses, earnings from a second job, and investments. First Place Loan Program requires that the home be owner-occupied (within 60 days of loan closing) and the units be at least five years old.  You are allowed to purchase single-family detached homes, one-half duplex, semi-detached homes, condominiums, townhomes, or manufactured homes on a permanent foundation. First Place Loan Program allows FHA, VA,  USDA Rural Development, and Fannie Mae. You are advised to attend a homebuyer education class and to contact a specialized lender to advise and guide you through the application and buying process.

 

Cash Assistance Payment Program is a first-time homebuyer loan for down payment and closing costs. If you qualify, you can receive a grant of 4.5 % of the loan amount for which no junk fees are allowed to be charged. The first-time home buyer requirements do not apply for homes bought in a targeted area or if the buyer is a qualified veteran. Cash Assistance Payment Program does not allow refinanced mortgage loans, except construction-to-permanent and bridge loans with an initial term of less than 24 months. Cash Assistance Payment Program allows the following loan types: FHA, VA, USDA-Rural Development and Fannie Mae Conventional. Income limits and purchase price limits also apply. The purchase price limits of your home may vary between $255,573 and $399,895 (according to the type of the home and if you buy in a targeted or non-targeted area). Your household income limits contain the total gross annual household income of all home’s adult residents. The total income includes wages, commissions, child support, alimony, bonuses, earnings from a second job, and investments. Cash Assistance Payment Program requires you to attend a homebuyer education class and to contact a specialized lender to advise and guide you through the application and buying process.

 

Non Cash Assistance Payment Program is a lower interest rate to first-time homebuyers who do not need down payment and closing costs assistance. If you become an eligible borrower, you will pay lower monthly payments with this loan and the lender isn’t allowed to charge you any junk fees. Non Cash Assistance Payment Program applies income limits and purchase price limits requirements. The purchase price limits of your home may vary between $265,158 and $265,158 (according to the type of the home and if you buy in a targeted or non-targeted area). Your household income limits contain the total gross annual household income of all home’s adult residents. The total income includes wages, commissions, child support, alimony, bonuses, earnings from a second job, and investments. You are allowed to purchase single-family detached homes, one-half duplex, semi-detached homes, condominiums, townhomes, or manufactured homes on a permanent foundation. The first-time home buyer requirements do not apply for homes bought in a targeted area or if the buyer is a qualified veteran. Non Cash Assistance Payment Program FHA, VA,  USDA Rural Development, Fannie Mae. You have to occupy the home within 60 days of loan closing. Non Cash Assistance Payment Program requires you to attend a homebuyer education class and to contact a specialized lender to advise and guide you through the application and buying process.

 

Mortgage Credit Certificate Program is a loan that allows you to convert a portion of the mortgage interest you pay into a non-refundable federal tax credit. This program is designed for low or moderate income homebuyers. You can access the program through the Missouri Housing Development Commission (MHDC) and its certified lenders. Mortgage Credit Certificate Program helps you, if you are a qualified first-time homebuyer, to reduce your tax liabilities below what you would otherwise have to pay. The MCC is available for the life of the loan and you are allowed to borrow a maximum credit of  $2,000 per year. You may also carry forward the unused portion of the credit up to three years or until used (whichever comes first). Mortgage Credit Certificate Program requires you to meet income and purchase  price limits. The purchase price limits of your home may vary between $255,573 and $312,368 (according to the type of the home and if you buy in a targeted or non-targeted area). Your household income limits contain the total gross annual household income of all home’s adult residents. The total income includes wages, commissions, child support, alimony, bonuses, earnings from a second job, and investments. You are allowed to purchase single-family detached homes, one-half duplex, semi-detached homes, condominiums, townhomes, or manufactured homes on a permanent foundation. Mortgage Credit Certificate Program requires you to attend a homebuyer education class and to contact a specialized lender to advise and guide you through the application and buying process.

 

First Place Loan Program

Cash Assistance Payment Program

Non Cash Assistance Payment Program

Mortgage Credit Certificate Program