MHDC UPDATE for Missouri !!!! Have you ever wondered how you Could Buy a House? The Down Payment Alone Would Break You....well, in Missouri there is Down Payment Assistance Available for Qualified First Time Home Buyers that is a soft second, forgivable when criteria is met. Ask Seller to pay Closing Costs, and you are in for .05% of sales price. Translation, Buyer can buy a $100,000 with $500 down if sellers agree to pay closing costs.
MHDC Missouri Housing Development Commission had a change in rates effective March 22, 2012.
- The CAL government program (Cash Assistance Loan) is now 4.0%.
- The Conventional program is 4.8%.
- The Non-Cal program (Non-Cash Assistance Loan) is now 3.5% for Government program
- The Non-Cal program is 4.3% for the Conventional loan.
MHDC is a great way for First Time Buyers to buy a Home. First Time Homebuyer is classified as anyone who has not owned a house for three years.
There are lots of considerations to buying a home. MHDC offers a great way to get in a house for .005% down when using the CAL government program and asking seller to pay closing costs. $500 down on a $100,000 house.
Want to talk to a REALTOR who keeps us informed with what is Going on In and Around Springfield, MO, Contact Yvonne C. Burdette or call 417-234-0887.