City of Kansas City Employee Homeownership Assistance Program (EAP)

City of Kansas City Employee Homeownership Assistance Program (EAP) is a forgivable loan for homebuyers in Kansas City, Missouri, administered by City of Kansas City, Missouri (counseling/education delivered by CHES, Inc., a HUD-approved nonprofit). Established by the City of Kansas City on March 21, 2024, the Employee Homeownership Assistance Program provides down payment and closing cost assistance to first-time-homebuyer City employees purchasing a home within Kansas City, Missouri city limits, paired with required financial education and homebuyer counseling. The loan is a partial-forgiveness loan. Priority is given to employees buying in severely distressed census tracts. Up to 20% down payment assistance, not to exceed $30,000, plus up to $5,000 in closing cost assistance, as a partial-forgiveness loan. One loan per qualified household during city employment. Funding comes from City of Kansas City, Missouri.

City of Kansas City Employee Homeownership Assistance Program (EAP) offers up to $35,000 in assistance. Amounts are the program's published maximums, not an offer — City of Kansas City, Missouri (counseling/education delivered by CHES, Inc., a HUD-approved nonprofit) determines any individual award.

City of Kansas City Employee Homeownership Assistance Program (EAP) is a forgivable loan, so the balance is forgiven once the program's conditions are met. Repayment is triggered by Partial-forgiveness loan; unforgiven balance subject to repayment under program terms. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Kansas City Employee Homeownership Assistance Program (EAP) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. The program lists a minimum credit score of 680. A homebuyer education course is required. Restricted to full-time City of Kansas City, MO employees with at least 5 years of service who are first-time homebuyers in good standing with the city. Must complete financial management, homebuyer counseling and education before applying (counseling agency may charge a fee). Minimum 680 credit score (after coaching). Must provide at least 2.5% down payment. Property must be a single-family residence (condos/townhomes included) within KCMO city limits, pass a health and safety inspection, and the buyer must pre-qualify for a conforming fixed-rate mortgage. Post-purchase counseling required before loan closing.

City of Kansas City Employee Homeownership Assistance Program (EAP) serves homebuyers purchasing in Kansas City, Missouri. The program gives priority to designated target areas, so the address matters as well as the county.

Applications for City of Kansas City Employee Homeownership Assistance Program (EAP) go through City of Kansas City, Missouri (counseling/education delivered by CHES, Inc., a HUD-approved nonprofit), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.