For first-time homebuyers or select displaced individuals in Springfield, as much as $5,000 can be offered as assistance funds. This is a forgivable 10-year loan with no interest or monthly payments.
As of 2020, the maximum sales price allowed is $130,000.
Applicants will need to be pre-qualified for a first mortgage.
A buyer’s guide and lender’s guide are both available for more information on this program.
For applicants, household income limits apply, which as of 2020 are as follows:
- 1-person household: $36,600
- 2-person household: $41,800
- 3-person household: $47,050
- 4-person household: $52,250
- 5-person household: $56,450
- 6-person household: $60,650
- 7-person household: $64,800
- 8-person household: $69,000
Other programs in Missouri:
- First Place Loan Program with Cash Assistance
- Next Step Cash Assistance Loan
- CAASTLC Down Payment Assistance
- Individual Development Account
- Columbia Homeownership Assistance Program