Missouri First-Time Home Buyer Programs of 2020

NerdWalletJanuary 23, 2020
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If you're a first-time home buyer in Missouri, the state has programs to help you achieve your dream of homeownership. The Missouri Housing Development Commission, or MHDC, offers mortgage programs for first-time home buyers, with and without down payment assistance. You can qualify as a first-time buyer if you haven't owned a primary residence for three years.

The first-time home buyer requirements are waived for veterans, active-duty military and people buying homes in economically disadvantaged areas.

National first-time home buyer programs

MHDC highlights and eligibility requirements


  • Some programs offer down payment assistance.

  • Loans can be used to buy most kinds of residences, except for mobile homes.

  • Federal Housing Administration (FHA), Department of Veterans Affairs (VA), U.S. Department of Agriculture (USDA) and conventional loans are available, all with 30-year terms and fixed rates.

  • Interest rates for some loan programs are below market.

  • First-time home buyers who meet income limits can obtain mortgage credit certificates. Borrowers can get an annual credit of up to $2,000 against federal income taxes. Income and purchase price limits apply.


  • Income limits vary by loan program, location of the home and household size.

  • Minimum credit score of 620.

  • Maximum total debt-to-income ratio of 45%.

  • Home has to be a primary residence in Missouri.


Missouri home buyer assistance programs

Your next step

Visit the MHDC's homeownership programs page for a list of loan programs, with links to details about each. Find a list of mortgage rates for each program, updated daily. MHDC maintains a list of certified lenders, which is available on the lender locator page.

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