Missouri First-Time Home Buyer Programs of 2021

By NerdWallet 
Updated
Missouri First-Time Home Buyer Programs of 2018

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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.

NASB

NASB: NMLS#400039

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Min. Credit Score

620

Min. Credit Score

580

Min. Credit Score

620

Min. down payment

3%

Min. down payment

3%

Min. down payment

3%

National first-time home buyer programs

Conventional mortgage

Best for:

Low down payments, limited mortgage insurance premiums

What you need to know:

A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie Mac allow down payments as low as 3% for first-time buyers or lower-income home buyers. Unlike FHA loans, conventional loans allow borrowers to eventually cancel their mortgage insurance or avoid mortgage insurance altogether if they put at least 20% down.

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Min. down payment 
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4.5

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4.5

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620

Min. down payment 
3%

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500

Min. down payment 
3.5%

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Veterans United

4.5

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4.5

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Min. down payment 
0%

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Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

Rocket Mortgage

5.0

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 
3.5%

Check Rate

on Rocket Mortgage

Better - PURCHASE logo
Check Rate

on Better

Better

4.5

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Better - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

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on Better

NBKC - PURCHASE logo
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4.5

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NBKC - PURCHASE logo

4.5

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Min. credit score 
620

Min. down payment 
3%

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on NBKC