HomeSTL Homebuyer Assistance Program

What is HomeSTL Homebuyer Assistance Program?

HomeSTL Homebuyer Assistance Program is a forgivable loan for homebuyers in St. Louis, Missouri, administered by St. Louis Development Corporation (SLDC); City of St. Louis Community Development Administration (CDA) is funder/lender; Program Administrator Stifel, Nicolaus & Company.

• HomeSTL is a down payment and closing-cost assistance program run by the St. Louis Development Corporation (with the City of St. Louis CDA as funder/lender) for credit-qualified first-time homebuyers at or below 80% AMI purchasing a primary residence within the City of St. Louis. Assistance is a 0%-interest forgivable second mortgage of up to $40,000, or up to $50,000 if the home is in a HUD Qualified Census Tract. Funds may be applied to down payment, closing costs, a permanent interest-rate reduction, prepaids, or principal reduction (no cash back). The loan is forgiven on a prorated annual basis over a 5-, 10-, or 15-year affordability period depending on the assistance amount.
• Up to $50,000 in assistance.
• 0% interest, no monthly payments.
• Forgivable (prorated annual forgiveness).
• Usable for down payment, closing costs, rate buydown, prepaids or principal reduction.
• No purchase price or loan amount limit.
• Extra Location Incentive in HUD Qualified Census Tracts.
• Funding comes from ARPA Coronavirus State & Local Fiscal Recovery Funds (SLFRF) passed through City of St. Louis CDA to SLDC (U.S. Treasury award 21.027).

How much assistance does it provide?

HomeSTL Homebuyer Assistance Program offers between $1,000 and $50,000 in assistance.

• Award tiers: Forgiveness term scales with assistance amount: $1,000-$14,999 = 5-year affordability period; $15,000-$40,000 = 10-year; $40,001-$50,000 (with Location Incentive in HUD Qualified Census Tracts) = 15-year. Prorated annual forgiveness from closing date.
• Amounts are the program's published maximums, not an offer — St. Louis Development Corporation (SLDC); City of St. Louis Community Development Administration (CDA) is funder/lender; Program Administrator Stifel, Nicolaus & Company determines any individual award.

Do you have to pay it back?

HomeSTL Homebuyer Assistance Program is forgiven after 15 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by During the affordability period, the prorated unforgiven balance is due upon sale or transfer, failure to occupy as principal residence, conversion to rental, refinance without prior written CDA approval, or other default.
• 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?

HomeSTL Homebuyer Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

HomeSTL Homebuyer Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• Household income at or below 80% AMI for the St. Louis HUD area, effective 05/01/2026. By household size: 1: $63,600; 2: $72,650; 3: $81,750; 4: $90,800; 5: $98,100; 6: $105,350; 7: $112,600; 8: $119,900.
• 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?

HomeSTL Homebuyer Assistance Program caps the purchase price as follows: No purchase price or loan amount limit set by the program; follows first-mortgage loan-agency limits.

• Eligible property types include Single Family, Condo, Townhouse, and Manufactured.
• New construction is eligible.
• Manufactured homes are eligible.

Where does it apply?

HomeSTL Homebuyer Assistance Program serves buyers purchasing in St. Louis, Missouri.

How do you apply?

Applications for HomeSTL Homebuyer Assistance Program go through St. Louis Development Corporation (SLDC); City of St. Louis Community Development Administration (CDA) is funder/lender; Program Administrator Stifel, Nicolaus & Company, 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-approved Missouri housing counseling agencies (minimum 8 hours); all persons on title must complete..

2. 2

   Contact St. Louis Development Corporation (SLDC); City of St. Louis Community Development Administration (CDA) is funder/lender; Program Administrator Stifel, Nicolaus & Company to reserve funds

   Funds are reserved with the provider 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.