Missouri - Government Backed Loans

MHDC is the state's housing finance agency. The Commission is dedicated to strengthening communities and the lives of Missourians through the financing, development and preservation of affordable housing.

Refinance Program 

First Place Loan Program

The First Place Loan Program offers affordable financing for low- to moderate-income homebuyers looking to purchase their first home. Assistance is provided in the form cash funding in the amount of 3% the homebuyer's first mortgage, which is to be used toward downpayment and closing costs. This cash assistance is a grant and does not need to be repaid. Eligible first mortgages include FHA, VA, RD, Fannie Mae and any conventional 30-year initial mortgage loan.

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Down Payment Assistance Program

The Down Payment Assistance Program offers cash assistance to first-time homebuyers who are unable to produce a conventional downpayment on a home, but otherwise qualify for a conventional market-rate mortgage. Qualifying homes to be purchased are located within the state's designated rural areas.

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American Dream Downpayment Initiative - ADDI

ADDI is a Federally funded down payment assistance program designed to assist first-time homebuyers with the up front costs associated with purchasing and financing a home. Funding is provided in the form a forgivable loan equal to 6% of the home's purchase price. Homebuyers must be purchasing a home located within a designated rural area in order to qualify for ADDI.

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