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Section 3
MBE/WBE

 

 

  Homeownership Next Step

 

 

Next Step

Homebuyer Program

 

 

Basic Information:

 

bulletThe Next Step Program allows Missouri citizens the opportunity to continue their quest for homeownership.
 
bulletThe Next Step Program enables non-first time homebuyers who lack sufficient equity or funds for downpayment to purchase their new home.
 
bulletThe Next Step Program provides incentives for homebuyers to move into ”Opportunity Areas” throughout Missouri. Opportunity Areas will be defined by census tract of the property being purchased. Borrowers will receive a slightly better interest rate if purchasing a home in an opportunity area.

The Next Step Program benefits Missouri borrowers in several ways:

Bridges the gap between lack of equity and downpayment needed to purchase their next home.
Allow first-time buyers who fall outside the income limits for the First Place Program to achieve homeownership.
Encourage qualified borrowers to move into “Opportunity Areas” with downpayment and closing cost assistance.

 

Program Availability:

 

bulletState of Missouri.

 

 

Loan Options:

 

bulletFirst Mortgage through MHDC with a 30 year fixed rate mortgage. Rates will be set on a daily basis. Please contact a certified lender to find the current rate.
 
bullet Loan type can be FHA/VA/RD or conventional loans (mortgage rates could be higher for conventional loans).
 
bulletDownpayment assistance is available. CLICK HERE FOR MORE INFO
 
bulletBorrowers will receive a slightly better interest rate if purchasing a home in an opportunity area. CLICK HERE FOR MORE INFO

 

bulletFirst-time homebuyers may also use the Next Step Program in conjunction with the Mortgage Credit Certificate Program (MCC).  CLICK HERE FOR MORE INFO

 

 

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Need more information? Call Toll Free 800-246-7973

 

 

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