Release No. 2000-04-08
April 10, 2000

KANSAS CITY, Missouri -- New income limits for Missouri Housing Development Commission's Mortgage Revenue Bond Program increase the number of people who qualify for the loan.

The HUD income guidelines were released in March and included a 7.5 percent increase above 1999 limitations. Homebuyers from a 1-2 person household increased from $45,200 to $48,600 with three or more person households increasing from $51,980 to $55,890.

"We are very pleased to expand our eligibility pool," said Don Brinker, MHDC Homeownership Manager. "It allows our participating lenders a better opportunity to reach a significantly larger number of homebuyers."

Stalsworth emphasized that persons buying or building in federally targeted census tracts will have a greater chance to qualify for an MRB loan. Targeted area income levels were raised from $54,240 to $58,320 for 1-2 person households and $63,280 to $68,040.

The Mortgage Revenue Bond Program offers first-time homebuyers affordable mortgage financing, often at an interest rate below that offered by market rate loans. The loans are available from participating lenders for properties located anywhere in Missouri. For more information about the program, contact Don Brinker at his Kansas City office, 816-759-6814.

###