Missouri Housing Development Commission

Homeownership & Home Repair > First-time homebuyers and veterans

> Cash Assistance Loan

Helps enable first-time homebuyers in need of down payment and closing cost assistance.

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CAL details:

	Qualified first-time homebuyers are eligible to receive a forgivable second mortgage of 4 percent of the loan amount to be used for down payment and closing costs. The second mortgage will be forgiven if the borrower stays in the home/loan for ten years. The second mortgage will diminish after year five by 1/60 every month until year 10 when it will be completely forgiven.
	No junk fees are allowed. The lender may charge standard closing costs.

Purchase Price Limits
Type of Home	Non-Target Area	Target Area*
Single family home	$349,525	$427,198
Duplexes	$447,542	$546,995
Note: These limits are subject to change in accordance with regulations. *Target Area: click here

Income Limits
Program	Income Limits
Cash Assistance Loan Program	click here
Additional Income Guideline Information The total gross annual household income for all borrowers and spouses who will be living in the home must be within the limits established for household income. Total gross annual household income is calculated using all sources of income including, but not limited to, wages, overtime, bonuses, child support, alimony, commissions and earnings from a second job, business and investments.

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