Missouri Housing Development Commission

Some of the key ingredients of the $35 million package that will positively affect homebuyers are:

 

1) $15 million to pay the first year of property taxes for qualified homebuyers who purchase a new or existing home after January 1, 2010.  This will affect between 9-10,000 families making less than $100,000 a year.

 

2)  $5 million in assistance to qualified homebuyers to help with down payments and closing costs.

 

3)  Additional assistance to homebuyers who purchase an energy-efficient home or purchase energy-saving appliances.  

 

The HOPE program is for qualified Missouri families that have or will be purchasing a home in 2010.  They are eligible for an incentive equaling the amount of the 2009 real estate tax associated with the property they purchased up to a maximum of $1250.   

 

There are additional funds if they 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 their home more energy efficient.  The maximum combined total of the HOPE property tax incentive and the HOPE energy-efficiency incentive is $1750.

 

More information and forms regarding the HOPE program can be obtained at www.mhdc.com/homes/HOPE/.

 

This program will continue until at least April of 2010.  

 

If you are interested in this program and would qualify, it is important that you contact your mortgage broker to make certain that they can assist you in obtaining funds thru this program.