By Dennis Norman, on March 24th, 2023 The State of Missouri received $138 million from the U.S. Treasury’s Homeowners Assistance Fund (HAF) and are using those funds to help qualified homeowners that are struggling to make their house payments. Missouri State Assistance for Housing Relief (SAFHR) is responsible for paying out these funds to help individual homeowners.
Who is eligible for assistance from SAFHR?
According to the SAFHR program guidelines, to qualify for SAFHR for Homeowners assistance, an individual or household must:
- Earn no more than 150% of the area median income for the region where the property is located, as set forth in the HUD income guidelines for the St Louis metro area.
- Have suffered a COVID-19 pandemic-related hardship that began on or after January 21, 2020, such as a loss of income or increase in household expenses related to the pandemic.
- Require assistance with mortgage arrearage.
There are also 5 questions that, can answer “yes” to all of them, you are encouraged to submit an application to receive Missouri State Assistance for Housing Relief (SAFHR) funds:
- Has your household experienced a financial hardship related to the COVID-19 pandemic since January 21, 2020?
- Are you a current resident of Missouri?
- Is the property you are seeking assistance for located in Missouri?
- Do you live on the property (primary residence) for which assistance is being requested?
- Do you have a mortgage on your home?
How do I apply for Missouri State Assistance for Housing Relief (SAFHR)?
Well, if you appear to be eligible for assistance, the next step would to to register on the SAFHR site and complete an application. To access the registration form on the SAFHR site click here.
Mortgage Assistance Counseling is available as well.
As part of the SAFHR program, the Missouri Housing Development Commission (MHDC) has partnered with Mortgage Assistance Counseling agencies across the state of Missouri. These agencies can help you complete your application for the SAFHR for Homeowners Program as well as help connect you with other services to avoid foreclosure. To access the list of Mortgage Assistance Counseling agencies in Missouri, including the Missouri counties they serve click here.
By Dennis Norman, on February 4th, 2015 Down payment help is available for 87 percent of the homes in the U.S., according to an analysis completed recently by RealtyTrac and Down Payment Resource. This analysis looked at the geographic location of homes to see if they were within areas where down payment assistance are available to purchasers meeting the qualifications of the program.
In the St Louis area, there are several down payment help, or down payment assistance programs, available, most of which are administered by the Missouri Housing Development Commission (MHDC). These programs include:
- Cash Assistance Loan Program (CAL)
- Qualified first-time homebuyers may receive a second mortgage equal to 3% of their mortgage amount which can be used for down payment or closing costs.
- The loan is a five-year loan at 0 percent interest with no monthly payments required. The loan will be forgiven after the buyer has occupied the home for 5 years.
- Non-Cash Assistance Loan Program (NON-CAL)
- Qualified first-time homebuyers that do not need down payment assistance can obtain a lower interest rate home loan than those that use the CAL program above.
- Because of the lower interest rates, borrower will have a lower monthly payment.
The best down payment assistance program in St Louis though is the BMO Harris Bank Affordable Housing Grant Program. This program is available to all qualified home buyers (not just first-tome buyers) and, instead of being a loan that may be forgiven after living in the home for a period of time, it is a no-strings attached grant that can be used for down payment or closing costs. Grants of up to $3,000 are available to home buyers that purchase homes in specified neighborhoods throughout St Louis. Click HERE to find out more about this great down payment help program!
By Robert Fishel, on February 6th, 2013  FHA Interest Rate Change: MHDC’s Cash Assistance Loan (CAL) is now 4%! (APR 4.93)
MHDC is raising mortgage interest rates offered to first-time homebuyers. First-time home buyers receive a forgivable 3% cash assistance loan for down payment and closing costs.
 Continue reading “Interest Rate Change; St. Louis Mortgage Interest Rate Update“
By Robert Fishel, on November 7th, 2012
Qualified first-time home buyers can receive a forgivable 3% cash assistance loan for down payment and closing costs on a home. 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,contact me by clicking below.
Continue reading “First Time Homebuyer Interest Rates Fall“
By Dennis Norman, on January 11th, 2012
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 and is completely forgivable after five years of continuous occupancy. MHDC will have the monies available for the borrowers regardless of bond issuance through Constant Funding. Continue reading “St. Louis Mortgage Rate Update; Forgivable down-payment assistance loan available for first-time homebuyers“
By Robert Fishel, on September 28th, 2011 First-time home buyers receive a forgivable 3% cash assistance loan (CAL) for down payment and closing costs.
The Missouri Housing Development Commission (MHDC) provides a competitive interest rate on a 30-year fixed rate 1st mortgage. Your 3% advance loan is treated as a 2nd mortgage completely forgivable after five years of continuous occupancy. The current rate for the CAL is 4.25%.* Continue reading “MHDC Lowers rates for First Time Home Buyers Down-payment Assistance Program“
By Robert Fishel, on August 24th, 2011
First-time home buyers receive a forgivable 3% cash assistance loan for down payment and closing costs.
Program Highlights:
- 3% Cash Assistance Loan (CAL) can be used for down payment and closing costs.
- CAL is forgivable after 5 years of occupancy.
- 30 Year Fixed Rate Mortgages & Competitive Rates.
- CAL can be used with FHA, VA and USDA Rural Development loan programs.
- First time home buyer requirement only applies to the last three years.
- Loan is assumable for an MHDC-qualified borrower in an FHA, VA or USDA-RD loan program.
- Eligible owner occupied properties include: Single-Family Detached, Duplexes, Semi-Detached, Condominiums, Town Homes. Continue reading “MHDC’s CAL Cash Assistance loan rate is now 4.5 percent!“
By Robert Fishel, on June 8th, 2011
First-time home buyers receive a forgivable 3% cash assistance loan for down payment and closing costs.
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 further information go to http://www.box.net/shared/v0piidunf7 or www.mhdc.com. Continue reading “New Limits for First Time Home Buyers Down-payment Assistance Program; St. Louis Interest Rates Update“
By Robert Fishel, on April 21st, 2011
First-time home buyers receive a forgivable 3% cash assistance loan for down payment and closing costs.
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. Continue reading “First Time Home Buyers Down-payment Assistance Available; St Louis Mortgage Interest Rate Update“
By Robert Fishel, on February 9th, 2011 
Missouri Housing Development Commission offers first-time home buyers a forgivable 3% Cash Assistance Loan (CAL) for down payment and closing costs. Terms of this program include: Continue reading “First Time Homebuyer Monies are still available… Why rent when you can own?; St Louis Mortage Interest Rate Update“
By Robert Fishel, on December 23rd, 2010
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“
By Robert Fishel, on June 30th, 2010
The state of Missouri funded a $15 million tax credit incentive program in January of this year to help spur home sales, but few have taken advantage of the program.
Now, Missouri home buyers must complete the purchase of their home by August 31, 2010 to take advantage of the program. The Missouri Housing Development Commission (MHDC) must receive their HOPE application by September 30, 2010.
HOPE stands for Home Ownership Purchase Enhancement. Homes purchased after August 31, 2010 will not be eligible for the HOPE program.
The HOPE program was expected to pay the property taxes for 9,000 to 11,000 Missouri families.
As of last week less than 1,500 home purchasers are participating. There is approximately $12 million still available for income-qualified home buyers.
You do not have to be a first-time buyer to participate. All tax credit funds are available on a first-come, first-served basis.
In the face of a more austere budget for 2011, Governor Jay Nixon is “slowing down” MHDC’s process of awarding tax credits. His goal is to cut the state’s 2011 budget $350 million and gain legislative approval by the end of this fiscal year on June 30.
Under the HOPE program MHDC provides incentives up to $1,750. Up to $1250 is available to pay the first year property taxes for income-eligible Missourians who buy a new or existing Missouri home after Jan. 1, 2010.
An additional $500 is available for “green” homes or energy-efficient improvements. Homeowners who bought a qualified newly constructed energy efficient home or bought an existing home and remodeled or purchased items, such as Energy Star® appliances, to make the home more energy efficient can apply for the additional money.
In the St. Louis metro the one- to two-person maximum gross household income qualification for the St. Louis MSA counties of Franklin, Jefferson, Lincoln, St. Charles, St. Louis City, St. Louis County, and Warren is $67,900. For a 3+ person household the maximum gross income is $78,085. In MHDC’s designated targeted areas the maximums are $81,480 and $95,060 respectively. For further information, go to the MHDC website: www.mhdc.com
St. Louis Mortgage Interest Rates – June 30, 2010 *
- 30-year fixed-rate mortgage 4.50% no points
- 15-year fixed-rate mortgage 4.125% no points
- 5/1 adjustable rate mortgage 3.625% no points
- FHA/VA 30-year fixed rate mortgage 4.75%
- Jumbo 5/1 ARM 4.125% no points
- Jumbo 15 year fixed rate mortgage 4.625%
For more information or if you have questions on mortgage rates in St. Louis you may contact me by phone at my direct line, (314) 372-4319, email at rfishel@paramountmortgage.com or you can visit our company website at http://www.paramountmortgage.com.
*Note- The above rates are based upon a typical sale price of $187,500 with a 20% percent down payment leaving a loan amount of $150,000 to a borrower with a 720 credit score for a loan with no discount points charged. Rates and terms will vary depending upon loan amount, home value, credit and income of borrower.
This information is provided by this author and this site for informative purposes only and is not warranted or guarteed in any way.
By Robert Fishel, on March 17th, 2010 LAST CALL FOR HOMEBUYER’S TAX CREDITS!
Prospects are scurrying to sell and/or buy homes before next month’s tax credit deadline.” “It’s been absolutely nuts, I have showings galore and contracts are coming in left and right,” commented one real estate agent. To qualify for the credit, buyers must have fully executed sales contracts in place by April 30 and the deal must close by June 30. First-time home buyers are eligible for up to $8,000. Buyers who have owned a home for five consecutive years within the past eight years can get a credit of up to $6,500.
Other Available Credits!
Real Estate Tax and Energy-Efficiency Incentives are available for Missouri Home Buyers!
Qualified Missouri families who purchase a home in 2010 are eligible for a HOPE incentive equaling the amount of the 2009 real estate tax bill associated with the property they purchased, up to a maximum of $1,250.
MAXIMUM HOPE ENERGY EFFICIENCY INCENTIVE AVAILABLE -$1,750
Homebuyers who are approved for the real estate property tax HOPE incentive may also be eligible to receive up to an additional $500 if they bought a qualified, newlyconstructed, energy-efficient home; bought an existing home and remodeled it; or purchased items for the home, such as Energy Star® appliances, to make the home more energy efficient. The maximum combined total of the HOPE property tax incentive and the HOPE energyefficiency incentive is $1,750.
Eligibility Requirements:
- Homeowner must purchase and occupy a one-to-four unit Missouri home as their primary residence after January 1, 2010.
- MHDC income limits apply to household.
- The applicant must be at least 18 years old.
- Property cannot be purchased from a relative, or spouse, if married.
Contact Missouri Housing Development Commission for further information: Phone: 800-246-7973 or check out their webswite: www.MHDC.com.
St. Louis Mortgage Interest Rates – March 17 , 2010 *
- 30-year fixed-rate mortgage 4.875% no points
- 15-year fixed-rate mortgage 4.25% no points
- 5/1 adjustable rate mortgage 3.75% no points
- 3/1 adjustable rate mortgage 3.625% no points
- FHA/VA 30-year fixed rate mortgage 5.00%
- Jumbo 5/1 ARM 4.125% no points
For more information or if you have questions on mortgage rates in St. Louis you may contact me by phone at my direct line, (314) 372-4319, email at rfishel@paramountmortgage.com or you can visit our company website at http://www.paramountmortgage.com.
*Note- The above rates are based upon a typical sale price of $187,500 with a 20% percent down payment leaving a loan amount of $150,000 to a borrower with a 720 credit score for a loan with no discount points charged. Rates and terms will vary depending upon loan amount, home value, credit and income of borrower.
This information is provided by this author and this site for informative purposes only and is not warranted or guarteed in any way.
By Dennis Norman, on March 2nd, 2010  Dennis Norman UPDATE June 7, 1010 – Here are links to the Forms from MHDC to claim the tax credit as well as some sample forms they have provided showing how to fill them in:
Program Application
Home Purchase Affidavit
Promissory Note
Hope Program Information and Instructions
Sample Forms
******
Dennis Norman Back in December I wrote a post about a $35 million economic development initiative that was approved by the Missouri Housing Development Commission which included $15 million to pay the first-year of property taxes for qualified homebuyers who purchase a new or existing home after January 1, 2010. Missouri Treasurer, Clint Zweifel, said he expected this would help between 9,000 and 11,000 Missouri families making less than $100,000 a year.
This morning I saw a report from a very trusted source that indicated thus far only two home buyers have taken advantage of this incentive. Wow, the State of Missouri is trying to give away money and it can’t! Perhaps homebuyers are not aware of the incentive, or there just aren’t that many people that meet the income guidelines that have bought a home since January 1st. In either event, the “incentive” does not appear to doing anything for the Missouri housing market.
To get complete details on the program please see my prior post by clicking here.
By Dennis Norman, on December 18th, 2009 Dennis Norman UPDATE June 7, 1010 – Here are links to the Forms from MHDC to claim the tax credit as well as some sample forms they have provided showing how to fill them in:
Program Application
Home Purchase Affidavit
Promissory Note
Hope Program Information and Instructions
Sample Forms
******
Just moments ago, the Missouri Housing Development Commission passed at $35 million economic development initiative. Part of this initiative (to the tune of $20 million worth) is aimed toward helping stimulate home sales in Missouri.
 The initiative includes:
- $15 million to pay the first year of property taxes for qualified homebuyers who purchase a new or existing home after January 1, 2010. According to Missouri Treasurer, Clint Zweifel, this has the opportunity to help between 9,000 and 11,000 Missouri families making less than $100,000 a year.
- $5 million in assistance to qualified homebuyers to help with down payments and closing costs. This helps potential homebuyers overcome the obstacle of coming up with enough cash for a down payment and closing costs.
- In addition, there is assistance to homebuyers who purchase an energy-efficient home or purchase energy-saving appliances.
I have not seen the plan that was actually approved, however below are the details of the plan that was proposed to MHDC by Missouri Governor Jay Nixon and State Treasurer Clint Zweifel (remember, some things could have been changed when approved today) from a press release issued in November.
If approved by the commission, Missouri families making less than $98,000 a year who enter into a contract to purchase a new or existing Missouri home after Jan. 1 would have their property tax paid up to $1,250. Those families would be eligible to have an additional $500 paid towards the tax bill if the homeowner purchases a energy efficient home or items, such as Energy Star appliances, to make the home more energy efficient.
Who is eligible?
Income eligibility is based on previously adopted MHDC guidelines. Depending on the county of the home sale, household income limit guidelines for low to moderate income persons or families approved by MHDC last spring range from $58,300 to $98,560. These grants are for owner-occupied purchases only.
When would it start?
If approved by the MHDC at its next meeting on Dec. 18, 2009, funds would be available for contracts entered into after Jan. 1, 2010, on a first-come, first-served basis.
How much of the property tax bill could be paid?
Eligible homeowners could have up to $1,750 of their property tax bills paid. According to the State Tax Commission, the average residential real estate tax bill for a Missouri homeowner is $1,160. An income-qualified individual or family is eligible to receive $1,250 or the amount of their first year’s real estate tax bill, whichever is highest, when they purchase a new or existing residential home. An income-qualified individual or family can enhance this base amount, up to $1,750, if they purchase an energy-efficient new home or make energy efficient improvements to an existing home that is purchased. These improvements must be made prior to closing or within 60 days of closing.
How do Missourians apply for these funds?
Forms and affidavits will be part of documents executed at the home sale closing. Additional receipts and documentation will be required for proof of energy efficient improvements.
What energy-efficiency upgrades would be eligible for the additional incentive?
Eligible improvements would include installing high-performance windows, house wraps, programmable thermostat controls, water-efficient toilets and faucets, and energy-efficient water heaters, lighting and appliances; sealing heating and air conditioning ductwork; caulking; insulating water heater pipes; increasing the R-value of insulation in crawl spaces and attics; and conducting on-site energy efficiency inspections and tests, including a blower door test, which tests the overall energy efficiency of the house, and a duct blaster test, which tests how much the air ductwork leaks.
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