Bootcamp For Buyers

First Time Homebuyer Programs in Missouri

Missouri offers several first-time homebuyer programs through the Missouri Housing Development Commission (MHDC). These programs provide down payment assistance, competitive loan options, and resources tailored to help you achieve homeownership.

First Place Loan Program

The First Place Loan Program offers affordable fixed-rate mortgages for first-time buyers.

  • Provides 30-year fixed-rate loans with low interest rates.
  • Includes down payment assistance of up to 4% of the loan amount.
  • Eligibility depends on income and purchase price limits.

Next Step Program

The Next Step Program is designed for repeat homebuyers and those not meeting the first-time buyer definition.

  • Offers competitive mortgage rates and down payment assistance.
  • Available statewide through MHDC-approved lenders.
  • Income and purchase price limits apply based on household size and location.

Mortgage Credit Certificate (MCC) Program

The MCC Program provides federal tax savings for first-time buyers.

  • Offers a tax credit of up to 25% of the annual mortgage interest paid.
  • Can be used in conjunction with MHDC mortgage programs.
  • Eligibility includes income and purchase price limits.

Missouri’s first-time homebuyer programs are designed to make homeownership more affordable and accessible. Explore these options to find the right fit for your needs and take the first step toward owning your dream home in the Show-Me State.