Missouri "Bond Money" is a loan program offered through the Missouri Housing Development Commission.

Bond money allows residents planning on living in their home to obtain assistance with their purchase (meaning: the home cannot be for investment purposes/rental)

Money is limited so the Missouri Housing Development Commission "announces" money and rates. Thanks to Darren Stewart with OakStar Bank for posting about new bond money and new rates. You can read his post here: Missouri Bond Loans - Major announcement !!!!!!!!!!!!!!!!! CASH assistance available in Missouri!!!!!!!!!!!!!!!!!

There are guidelines for the buyers income and for the property. A certified loan officer can assist you with all the particulars of the program. Darren is located in the Ozark area of Missouri, or you can search for a certified loan officer on the MSDC site. I have had clients use Susan Edwards at Countrywide in Springfield, MO and a few have used North American Savings Bank. Your favorite loan officer may already be qualified to assist you.

It's best if you contact one of the certified specialists to answer all your questions - as REALTORS we are not in the know of all the ins and outs of loan products. However, I do like to remind my clients and customers to ask about the "recapture tax" that is part of the bond money program.

Recapture Tax could apply in some cases when the home financed with Mortgage Revenue Bond funds is sold.

As I understand the program, the Recapture Tax would apply if the seller meets all of the following conditions:

   * The home is sold within nine years.

   * The Seller makes a net profit on the home. (After adjusting the value of the home for any improvements or repairs that have been made, and after deducting all costs of the sale, including sales commission.)

    * The household income of the Seller has increased at least 5% each year (on average).

BUT, if you refinance your home at a later date to obtain a better interest rate, or to pull out some of the equity you have in your home, the Recapture Tax provision is not triggered.

There are lots of great programs still available to Buyers in Missouri. Missouri Bond Money is just one example.

If you're thinking of Buying or Selling in Southwest Missouri, I am more than happy to assist you with you real estate needs. United Country VIP Realty is a full service real estate brokerage, with an office in Lebanon MO and an office in Marshfield MO to best serve your needs. We work with a variety of lenders, locally and across the country.

Missouri Bond Money... another way you could be Finding Your Freedom in Missouri!