Are you thinking of buying your first home in Missouri? Would you like a free gift of money to help you purchase that first home? If you answered yes to these two questions, there is great news for you. The state of Missouri provides free grant money for its residents who are buying home first time and need help with the down payment and closing costs. This money comes in the form of state grants. This is free funding that shouldn’t be passed up! The grant awards can be in the thousands of dollars. It will be well worth your time to educate yourself about the grant programs that the State of Missouri provides.
Missouri First Time Home Buyer Grants
The agency in Missouri that provides assistance to the home buyers is The Missouri Housing Development Commission. They have one first time home buyer grant available: First Place Loan Program. You can receive a cash assistance grant of up to 3%. To find out more about this grant, please visit the Missouri Housing Development Commission website page specifically for this grant program. You can get there by going to this website.
Cash Assistance Loan (CAL) provides cash assistance to first-time home buyers for down payment and closing costs.
Helps enable first-time home buyers in need of down payment and closing cost assistance.
Qualified first-time home buyers are eligible to receive a second mortgage of 3% of the loan amount to be used for down payment and closing costs.
The second mortgage is a five-year, diminishing loan at 0% interest.
The second mortgage is forgiven after five years of occupancy by the owner and monthly payments are not required.
No junk fees are allowed. The lender may charge standard closing costs
Here is the contact information for the Missouri Housing Development Commission:
MHDC Kansas City
3435 Broadway St
Kansas City, MO 64111
Phone: (816) 759-6600
MHDC St. Louis
4625 Lindell, Suite 300
St. Louis, MO 63108
Phone: (314) 877-1350
Federal First Time Home Buyer Grants
Besides the state programs, there are federal funds and grants available to the home buyers in Missouri through the Homes and Communities program of the United States Department of Housing and Urban Development. On their website you’ll find complete grant information, application forms, description of available funds, as well as many other helpful tools.
Every potential buyer should investigate what they have to offer. You can visit the website by going here: US Dept. of Housing and Urban Development. Also, there is a website that has a complete list of all grant programs available through the United States Federal Government: Grants.gov. You should plan to spend the required time investigating to determine how many individual grants you may qualify for. You can also visit the website by going to Grants.gov and using their simple search tool to find more information.
Other Grants in Missouri
There are also these local programs:
Columbia Enterprise Development Corporation (EDC) Home Ownership Assistance Program (HOP) (573) 874-7239
Columbia Home Investment Partnership Program (HIPP) (573) 874-7239
Columbia Home Investment Partnership Program (HIPP) Additional Assistance Loan (573) 874-7239
Springfield West Central Neighborhood Alliance Down payment/Closing Cost Assistance Program (417) 865-8842
St. Louis (City & County) St. Louis Reinvestment Corporation Closing Cost Grant Assistance (CCGA) (314) 588-9334
St. Louis (City and County) St Charles County Catholic Commission on Housing First Time Home Buyer Program (FTHP) (314) 371-0144
St. Louis County 1st Home Down payment and Closing Cost Loan Program (CCLP) (314) 615-4405
St. Louis Grant Down Payment Assistance Program (DPA) (314) 533-0600
St. Louis Home Buyers Assistance Program (HAP) (314) 622-3400
St. Peters Home Ownership Program (HOP) (636) 477-6600
St.Louis International Institute Saint Louis IDA Home Purchase (IDA) (314) 773-9090