The Missouri Housing Development Commission has just announced a wonderful new program where home buyers can get a 20% downpayment grant when they buy a bank owned home. The maximum grant is $14,999. Here are the details:
*Buyers must use MHDC "First Place Loan" for their first mortgage
*Buyers must live in the home as their primary residence for 5 years
*Buyers must take 8 hours of home buyer's counseling
*The home must be purchased for 5% under the appraisal value
*The home may not have been used as a rental property in the last 12 months
*Buyers income must not be more than 20% over the median income for their area
Call me if you have any questions or would like to participate in this wonderful program. Erin Blaise 573-268-9059.