Home Buying in O'Fallon>Question Details

Thetalkingsax, Home Buyer in New York, NY

Any down payment assistance grants available for family making $120,000 in MO. Looking for help with closing...loans not allowed.

Asked by Thetalkingsax, New York, NY Sun Aug 18, 2013

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There are multiple things available. First the state has their MHDC grants available - tou can google MHDC to check their different programs and qualifications. Then there is HUD money available in many areas. It is normally controlled by the county, but is occasionally controlled by the city the home is in. Most cities and counties will tell you about it on their wrbsites and what the qualifications are in their areas.

Both programs typically can be layered and used together. The key is finding a LENDER who is certified to work with the programs and a REALTOR who understands them. Their are other grants available that go with the particular house rather than the municipality. A good place to start is with the HUD counselor in the area, since for many of the programs you have to ho through theirbprogram in order to qualify for getting the grant money.

Note - some of the grants have to be paid back regardless, but some are foregivesble if you live inthe home for 5-7 years
0 votes Thank Flag Link Sun Aug 18, 2013
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