First-Time Homebuyer Programs in Missouri

The Missouri Housing Development Commission (MHDC) is the state housing finance agency and runs Missouri's two main homebuyer loan programs. The First Place Loan Program serves first-time buyers and qualified veterans with below-market fixed-rate mortgages and an optional Cash Assistance Loan (CAL) of up to 4% of the loan amount for down payment and closing costs. The Next Step Loan Program extends similar financing and 4% CAL assistance to repeat buyers and households above First Place income limits. Both CAL second mortgages are forgivable if the borrower stays in the home for 10 years, with forgiveness beginning at year 5 at 1/60th per month.