MHDC Mortgage Assistance Programs
NASB can help Missouri residents take advantage of a number of mortgage assistance programs available through the MHDC.
Special mortgage programs for residents of Missouri.
The Missouri Housing Development Commission (MHDC) was created in 1969 to help provide home loan funding to qualified first-time home buyers in Missouri. NASB is proud to be a certified mortgage lender for the program.
MHDC offers two programs for Missouri borrowers. The first is the First Place Homebuyer Program, which provides first-time home buyers and qualified veterans with affordable interest rates and additional incentives.There are two types of loans offered through the MHDC First Place program:
- Cash Assistance Loan (CAL) - provides down payment and closing cost assistance for first-time home buyers.
- Non-Cash Assistance Loan (Non-CAL) - This loan provides a lower interest rate to first-time home buyers who do not qualify for a down payment or closing cost assistance.
First Place Loans are fixed-rate first mortgages that can be used to secure a conventional, VA, or FHA loan.
The second financial assistance option the MHDC offers is the Next Step Program. Qualified first-time and non-first-time home buyers may be eligible for down payment and closing cost assistance. This forgivable second mortgage loan does not have to be paid back if the borrower stays in the home for ten years.
To see if you qualify for the First Place Homebuyer Program or the Next Step program through the MHDC, call us or fill out the form below today.Minimum loan amount of $175,000 required to apply. Exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas. Contact a NASB Loan Officer for more details on the specific areas and/or zip codes excluded.
Mortgage Calculators
- A variety of mortgage payment calculations
- Learn which loan is better for you
- Help to make term and loan type decisions
First-Time Home Buyer Programs
- Build equity instead of paying rent
- Take advantage of mortgage interest tax deduction*
- Many mortgage loan programs for first-time buyers
What Our Customers Say
Sherri S., March 18, 2022
★★★★★ (5)
"My loan officer was amazing and did everything he could to help me with my home purchase. There were extenuating circumstances that he went above and beyond to help me with."
"My loan officer was amazing and did everything he could to help me with my home purchase. There were extenuating circumstances that he went above and beyond to help me with."
