City of St. Charles Down Payment Assistance Program

What is City of St. Charles Down Payment Assistance Program?

City of St. Charles Down Payment Assistance Program is a forgivable loan for homebuyers in St. Charles, Missouri, administered by City of St. Charles, Community Development Department (CDBG).

• The City of St. Charles offers income-eligible homebuyers a zero-percent-interest down payment assistance loan of up to $5,000 that is forgivable after five years. The assistance is delivered through partner housing counseling agencies and requires completion of a HUD-certified housing counseling program. This is a separate, city-funded program distinct from the St. Charles County HOME Down Payment Loan.
• Up to $5,000.
• 0% interest.
• Forgivable after 5 years.
• Delivered through HUD-certified counseling partners.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from HUD Community Development Block Grant (CDBG).

How much assistance does it provide?

City of St. Charles Down Payment Assistance Program offers up to $5,000 in assistance.

• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — City of St. Charles, Community Development Department (CDBG) determines any individual award.

Do you have to pay it back?

City of St. Charles Down Payment Assistance Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Zero-percent-interest second mortgage forgivable after five years.
• The assistance is recorded in second position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of St. Charles Down Payment Assistance Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

City of St. Charles Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• At or below 80% of HUD area median income; brochure limits: 1 $37,600; 2 $43,000; 3 $48,350; 4 $53,700; 5 $58,000; 6 $62,300 (brochure figures may predate current HUD limits - confirm current-year figures with the City).
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

City of St. Charles Down Payment Assistance Program can be used for Single Family.

Where does it apply?

City of St. Charles Down Payment Assistance Program is a federal program, so it is not limited to Missouri.

How do you apply?

Applications for City of St. Charles Down Payment Assistance Program go through City of St. Charles, Community Development Department (CDBG), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-certified housing counseling via North East Community Action Corporation, Better Family Life, or Beyond Housing.

2. 2

   Contact City of St. Charles, Community Development Department (CDBG) to reserve funds

   Funds are reserved through Apply through one of the partner agencies (Better Family Life, Beyond Housing, The Housing Partnership), and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.