Missouri Foreclosure Purchase Assistance
The state of Missouri is offering up to $14,999 for down payment and closing costs for owner occupied housing purchasers of foreclosed property. Qualified buyers can receive up to 20% of the purchase price with a $14,999 cap. The loan is offered at 0% interest and is forgiven after 5 years of occupancy. First time home buyers are eligible for the $8,000 federal tax credit in addition to this program!
To qualify the income limit is 120% of the area median income, for example $81,450 for a family of 4 (See Chart of Income Eligibility). In addition, the borrower is required to receive 8 hours of homeownership counseling. This program is very appealing and applies to many individuals. For more information on requirements go to the MHDC website or contact me for a referral to a certified lender. Don’t waste money on foreclosure lists,I’ll be happy to send you a list of foreclosures available by school district, county, city, size or just about any other search criteria you desire.
