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MHDC First Place Loan (Reduced Interest Rate Program)
Missouri Housing Development Commission

Program Overview

MHDC First Place Loan (Reduced Interest Rate Program) is a program that provides a below-market interest rate loan. Borrower must qualify for a Fannie Mae or Freddie Mac fixed-rate loan, or an FHA or VA loan. Applies to homes purchased in the state of Missouri

Who is eligible for this program?

Program available to individuals and households whose income falls within the established limits. Income from all borrowers over the age of 18 who will be living in the subject property will be included in program income eligibility requirements. $57,000 for 1-2 persons, $65,550 for 3+ persons Is this program for first time buyers only? Yes

Property Eligibility Requirements

State of Missouri The sales price cannot exceed $ $237,000 for a single family home in a non-target area. Allowable property types: single family homes, condos, townhome, modular homes and duplex.

Benefit Details

Benefit: Below-market interest rate. Homebuyer Counseling / Education Required: No Owner Occupancy Required: Yes Other Program Comments:

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