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MHDC First Place Loan - Non-Cash Assistance Loan

Missouri Housing Development Commission (MHDC) · Missouri

Last verified
See what you qualify forOfficial program site →
Income limit

$116,300

The household income limit the program publishes

Price cap

$566,354

Highest purchase price the program allows

What is MHDC First Place Loan - Non-Cash Assistance Loan?

MHDC First Place Loan - Non-Cash Assistance Loan is a first mortgage for homebuyers in Missouri, administered by Missouri Housing Development Commission (MHDC).

  • The no-DPA First Place option: an even lower below-market 30-yr fixed first mortgage in exchange for forgoing the 4% forgivable second.
  • Lowest First Place fixed rate (~0.25-0.50% below CAL).
  • 30-yr fixed.
  • No min down payment.
  • For buyers with their own funds.
  • Funding comes from State.

Do you have to pay it back?

MHDC First Place Loan - Non-Cash Assistance Loan is a first mortgage and is repaid under the terms set by Missouri Housing Development Commission (MHDC).

  • The assistance is recorded in 1st 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 - Non-Cash Assistance Loan is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Waived for qualified Veterans or targeted-area buyers; 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.

The program excludes

  • 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.

What are the income limits?

MHDC First Place Loan - Non-Cash Assistance Loan 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 - Non-Cash Assistance Loan 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 - Non-Cash Assistance Loan 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 - Non-Cash Assistance Loan serves buyers purchasing anywhere in Missouri.

How do you apply?

Applications for MHDC First Place Loan - Non-Cash Assistance Loan go through Missouri Housing Development Commission (MHDC), which publishes the current terms and the application steps on its own site.

  1. Contact Missouri Housing Development Commission (MHDC) to reserve funds

    Funds are reserved with the provider and are subject to availability.

  2. 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.

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