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Missouri First Place With Down Payment Assistance

Missouri Housing Development Commission offers First Place With Down Payment Assistance to first-time buyers in Missouri: up to 4% of the home loan, as a forgivable loan.

Amount
Up to 4% of the home loan
Kind of help
Forgivable loan
First-time buyers only
Yes, with exceptions
Credit score
640 or higher

Forgivable loan: forgiven after 10 years in the home. After year five, what you owe drops by 1/60 each month.

A forgivable loan is written off once you have kept the home and its first mortgage for the years the program sets.

Who qualifies for Missouri First Place With Down Payment Assistance?

  • Your income must fall within program limits, which vary by area.
  • First-time buyers only: yes, with exceptions.
  • A credit score of 640 or higher.
  • It comes with this first mortgage: MHDC First Place first mortgage loan.
  • Price limit: set limits for Missouri properties (see MHDC website).

Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.

How to apply for Missouri First Place With Down Payment Assistance

  1. Missouri Housing Development Commission pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
  2. The lender checks your income, credit and the home against the program's rules and reserves the money for you.
  3. The help is paid at closing, toward your down payment and closing costs.

Read the full rules and whether it is taking applications on Missouri Housing Development Commission's page for First Place With Down Payment Assistance, or pick a lender from the agency's list of participating lenders.

Ask a lender about Missouri First Place With Down Payment Assistance

Tell us where you're buying and a lender that works with Missouri's programs can tell you whether Missouri First Place With Down Payment Assistance fits you, and what you could combine with it.

Call 866-602-7460

Rather not call? Send your details and the lender will reach you.

When you send this request, you agree that one mortgage lender who works with these programs may contact you by email, phone or text, including by automated means, about this request. Agreeing is not a condition of any purchase. We are an independent guide, not a lender or a government agency; only that one lender gets your details, and it may pay us for the introduction. See our about page and privacy notice.

Other first-time buyer programs in Missouri

All Missouri first-time home buyer programs · Down payment assistance in every state