Missouri Housing Development Commission announced new rates for the First time Home buyers mortgage Cash assistance loan - its a bond loan program that allows 3% of the loan amount be given to the first time home buyer for down payment and closing costs.
Current rates are at 5.40, with 3% cash assistance, if the buyer has his own downpayment the rate would move to 4.90%
Metropolitan National Bank, is an approved lender through MHDC and have many years experience assisting first time home buyers with this program.
Currently with the shortage of USDA funds it is a great program to assist the first time home buyer.
Darren Stewart
Metropolitan National Bank
Comments (0)Subscribe to CommentsComment