Programs for First-Time Buyers
Without a doubt, this is a terrific time to be a first-time homebuyer. Not only are home prices at the lowest point that we’ve seen in the last 5 years, interest rates continue to bounce around 5 percent, and the inventory of homes is still good,
City of Columbia First-Time Homebuyer Program
The City of Columbia first-time homebuyer program was originally limited only to homes in the central city area. It is now open to homes anywhere within the city limits. For more information about income guidelines, check out the program on the City’s website.
The city has a wide variety of home owner assistance programs. They range from money to rehabilitate homes, to low interest loans to upgrade the energy efficiency of your home, to trade-a-tree programs. Take some time to get familiar with the City’s website.
Missouri Housing Development Commission (MHDC)
Missouri is one of the first states to develop a program to allow first-time homebuyer to borrow the tax credit money to use as a downpayment on the new home purchse. For more information, please read the descripton of the MHDC program.