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NEWS:  Sales up significantly for homes under $100,000

The First Place Loan program gives first-time* homebuyers and qualified veterans the edge they need to purchase a home.  Affordable, interest rates in combination with additional incentives offered by MHDC allow prospective buyers to obtain mortgage financing in a competitive market.

 

 

Qualifying is easy.  You must be income-eligible, have qualifying credit, and have not owned (or had principle interest in) a residence during the past three years.

 

Any FHA, VA, USDA/Rural Development or Fannie Mae MyCommunityMortgage®  30-year conventional mortgage may be used under the rules of the program.

 

This program is available for homes throughout the state of Missouri.  Additionally, we have committed to continually fund loans in federally-targeted areas that include specific census tracts in counties throughout the state.  Homebuyers do not have to be first-time buyers if they purchase in target areas.

 

More Details:





 

 

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Additional Assistance
Programs that can be used with First Place

 

Federal tax credit advance
our Tax Credit Advance Loan Program advances you funds to assist in $8,000 federal first-time homebuyer tax credit.

 

Refinancing a sub-prime loan
our Refinance Loan Program - This is a temporary program available for the refinance of subprime loans.


Purchasing a foreclosed home
the Neighborhood Stabilization Program offers assistance in purchasing a foreclosed home.

 

 

 

 6.0%

5.5%

NSP RATE 5.5%

 

 

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* First-time homebuyers are defined as those persons who have not owned a home or had an ownership interest in a primary residence for the past three years

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