St. Louis County First Home Down Payment Loan

St. Louis County First Home Down Payment Loan is a deferred second loan for homebuyers in St. Louis County, Missouri, administered by St. Louis County Office of Community Development (HOME Investment Partnerships Program). St. Louis County's First Home Down Payment Loan, funded through the County's HOME Investment Partnerships Program, provides a $3,000 zero-interest deferred loan toward down payment for income-eligible first-time homebuyers purchasing in St. Louis County. The loan is due upon sale or transfer of the home. $3,000 zero-interest deferred down payment loan, due on sale or transfer. Funding comes from HUD HOME Investment Partnerships Program (via St. Louis County).

St. Louis County First Home Down Payment Loan offers up to $3,000 in assistance. Amounts are the program's published maximums, not an offer — St. Louis County Office of Community Development (HOME Investment Partnerships Program) determines any individual award.

St. Louis County First Home Down Payment Loan is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Due upon sale or transfer of the property. 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.

St. Louis County First Home Down Payment Loan 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. A homebuyer education course is required. Applicant must complete homebuyer education and one-on-one counseling with a HUD-certified housing counselor and achieve 'Homeownership Ready' status, contribute at least $1,000 from their own funds, and have household income at or below 80% of area median income. Property must be in St. Louis County (excludes municipalities running their own HOME programs).

St. Louis County First Home Down Payment Loan limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% of area median income. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

St. Louis County First Home Down Payment Loan serves homebuyers purchasing in St. Louis County, Missouri.

Applications for St. Louis County First Home Down Payment Loan go through St. Louis County Office of Community Development (HOME Investment Partnerships Program), 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.