The State of Missouri has approved money for their MHDC Program specifically to aide in the purchase of foreclosed homes.
There is currently $4.2 Million available to provide downpayment and fix up assistance to purchase these foreclosed properties. They are calling it the Neighborhood Stabilization Program.
Here's the details:
- Not just for first time homebuyers
- Still qualify for $8000 federal first time homebuyer tax credit
- Credit of up to 20% of the purchase price up to $15k
- Given as second mortgage, with 0% interest rate, forgivable after 5 years
- Household income can not surpass 120% of the surrounding area median
- Must purchase home for 95% or less of appraised value
- Must attend 8 hour home ownership class
- Must be primary residence
Call us now for more information (636) 946-7273
or start checking out properties at www.RCREonline.com
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