MHDC First Place Loan - Cash Assistance Loan (CAL)
MHDC First Place Loan - Cash Assistance Loan (CAL) is a forgivable loan for homebuyers in Missouri, administered by Missouri Housing Development Commission (MHDC).
The program asks for
- First-time homebuyer — with exceptions: Waived for qualified Veterans or targeted census tract; FTHB = no ownership in past 3 years.
- The home is occupied as a primary residence
- On credit: 640 minimum; up to 50% DTI on FHA/VA/USDA with 680+.
- Residency: Eligible property in Missouri; occupy within 60 days.
- Must use an MHDC Certified Lender; allocated first-come. Possible federal recapture if sold within 9 years.
- A home in Missouri
It doesn’t cover
- Purchases above the $566,354 price cap
- Households above $116,300
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
Income limit
$116,300 household income limit, as the program publishes it
The program states this limit itself. Its official site says how household size changes it.
Where it applies
Missouri’s homesMissouri’s homes, and the ones this program accepts
- 70.5% single-familysingle-family
- 3.7% townhousetownhouse
- 7.8% 2–4 units2–4 units
- 12.8% 5+ unitscondo & apartment buildings (5+ units)
- 5.3% mobile & othermobile home & other
A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.
$230,300
Missouri median home value
52.7%
built before 1980
U.S. Census Bureau, ACS 2024 5-year.
How to apply
How to applyTwo steps, in this order
Contact Missouri Housing Development Commission (MHDC) to reserve funds
Funds are reserved with the provider and are subject to availability.
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 homebuyer can take it to a lender or housing counselor.
Questions about this program
What is MHDC First Place Loan - Cash Assistance Loan (CAL)?
MHDC First Place Loan - Cash Assistance Loan (CAL) is a forgivable loan for homebuyers in Missouri, administered by Missouri Housing Development Commission (MHDC). MHDC First Place DPA option: a below-market 30-yr first mortgage plus a 100% forgivable second equal to 4% of the first-mortgage amount, forgiven over 10 years. 4% forgivable second for down payment & closing. Below-market 30-yr fixed. No min down payment. Forgiven over 10 years. Funding comes from State.
Do you have to pay it back?
MHDC First Place Loan - Cash Assistance Loan (CAL) is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale or refinance before forgiveness completes, No longer primary residence, and Loan not maintained 10 years. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.
Who qualifies?
MHDC First Place Loan - Cash Assistance Loan (CAL) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Waived for qualified Veterans or targeted census tract; FTHB = no ownership in past 3 years. On credit, the program states: 640 minimum; up to 50% DTI on FHA/VA/USDA with 680+. Residency requirement: Eligible property in Missouri; occupy within 60 days. Must use an MHDC Certified Lender; allocated first-come. Possible federal recapture if sold within 9 years.
What are the income limits?
MHDC First Place Loan - Cash Assistance Loan (CAL) limits household income to $116,300. 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?
MHDC First Place Loan - Cash Assistance Loan (CAL) caps the purchase price at $566,354. Eligible property types include Single Family, Condo, Townhouse, 2-4 Unit, and Manufactured. New construction is eligible. Manufactured homes are eligible.
Is there eligibility for specific groups?
MHDC First Place Loan - Cash Assistance Loan (CAL) names veterans and active-duty service members among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.
Where does it apply?
MHDC First Place Loan - Cash Assistance Loan (CAL) serves homebuyers purchasing anywhere in Missouri.
How do you apply?
Applications for MHDC First Place Loan - Cash Assistance Loan (CAL) go through Missouri Housing Development Commission (MHDC), 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.
Also for Missouri homebuyersOther programs open to Missouri homebuyers
- FHLBank Des Moines Native American Homeownership Initiative (NAHI)Up to $25,000
- FHLBank Des Moines Home$tartUp to $15,000
- Beyond Housing Down Payment and Closing Cost Assistance ProgramUp to $10,000
Whether two programs can be combined is up to each agency. Ask before you apply.
All 70 programs for MissouriProgram terms are set by Missouri Housing Development Commission (MHDC) and can change; confirm on the official site before you apply.