Basic Information:
 | This program helps Missourians in disaster areas, who were affected by severe weather, purchase a home. |
| This program offers loans to homebuyers with 5% cash assistance for down payment or closing costs. |
| Get started by reviewing the below information then contacting a participating lender. |
Current Disaster Counties:
| Butler, Cape Girardeau, Howell, Jasper, McDonald, Mississippi, New Madrid, Newton, Pulaski, St. Louis County, Scott, Stoddard, Stone, Ripley and Taney Counties. |
Loan Options:
| Option 1 - MHDC Loan
with 5% cash assistance forgivable second First mortgage through MHDC at a current rate of 4.00% with assistance or 3.50% without assistance. Down payment and/or closing cost assistance will be given at 5% of the first mortgage amount with a 0% interest rate and forgiven after 5 years of owner occupancy no monthly payments required. |
| Option 2 - Certified
Lender Loan with 5% cash assistance repayable second First mortgage through the certified lender at their current market rate. MHDC will provide the 2nd mortgage for down payment and/or closing cost assistance at 5% of the first mortgage amount with a 1% interest rate with mortgage term of 120 months. |
Income Limits and Residency:
See chart below for income limits in the county that the home will be purchased. People can purchase any where in the state of Missouri but must have lived in one of the 15 disaster counties at the time of the disaster. There are no first time homebuyer requirements.
|
Purchase Price Limits |
|
|
Type of Home |
Limit |
|
Single family home |
$301,929 |
|
Duplexes |
$386,531 |
|
Income
Limits |
|
|
Program |
Income Limits |
|
Kansas City MSA Counties Caldwell, Cass, Clay, Clinton, Jackson, Lafayette, Platte Ray |
$102,620 |
|
St. Louis MSA Counties Franklin, Jefferson, Lincoln, St. Charles, St. Louis City, St. Louis County, Warren |
$98,560 |
|
Columbia MSA Counties Boon, Howard |
$92,400 |
|
Jefferson City MSA Counties Callaway, Cole, Osage |
$98,000 |
| All Other Areas |
$84,980 |
|
Total gross annual household income is calculated using all sources of income including, but not limited to, wages, overtime, bonuses, child support, alimony, commissions and earnings from a second job, business and investments.
Effective 12/01/2011
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Need more information? Call Toll Free 800-246-7973
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