No Money Down Home Loans for Rural Areas; St Louis Mortgage Interest Rate Update

The USDA Rural Development loan program helps rural communities and individuals by providing guaranteed home loans. Funding is available for single family, owner occupied homes with favorable rates, 30-year fixed terms, and no down payment.

Loan amounts are limited only by the applicant’s ability to repay and the property’s appraised value. No minimum credit score is required, but compensating factors are utilized with scores under 620. Now deserving families have an unprecedented opportunity to become homeowners. Continue reading “No Money Down Home Loans for Rural Areas; St Louis Mortgage Interest Rate Update

MHDC’s Cash Assistance Loan; St. Louis Mortgage Rate Update

Paramount Mortgage Company - St Louis

First-time home buyers receive a forgivable 3% cash assistance loan for down payment and closing costs.

The Missouri Housing Development Commission (MHDC) provides a competitive interest rate on a safe 30-year fixed rate 1st mortgage. Your 3% advance loan is treated as a 2nd mortgage completely forgivable after five years of continuous occupancy. New, Constant Funding means MHDC will have the monies available for the borrowers regardless of bond issuance.

For more information about this program, go to http://www.box.net/shared/s2x9zriz1g or www.MHDC.com . Continue reading “MHDC’s Cash Assistance Loan; St. Louis Mortgage Rate Update