New Program Offers Missouri Home Buyers Cash Incentive

The Missouri Housing Development Commission (MHDC) is now offering home buyers in Missouri a special incentive to make a move. $15 million has been allocated to the Home Ownership Purchase Enhancement (HOPE) program, which gives home buyers that meet certain criteria an amount of cash equal to the amount of their first year’s property tax up to $1,250. In addition, purchasing an energy efficient home or making energy efficient upgrades results in additional incentives. In total the value of the program to a home buyer can reach up to $1,750 when the property tax and energy efficiency incentives are both utilized.

There are stipulations, of course, including an income level cap. In Taney & Stone counties, 1-2 person households cannot earn more than $58,300, and 3+ person households are limited to $67,045 in earnings per year.

For complete details, learn more from the MHDC’s FAQ page about the HOPE program.

It can get overwhelming, but a good agent and/or a good mortgage lender can help you get through it all. Thanks to Mike Linneman at Heartland Bank for bringing this new program to my attention. He would be a great resource to help you get started.

This program is just another in the long list of incentives available to home buyers today. Not to mention the biggest incentive of all… It’s one of the best buyer’s market opportunities in years!

Comments

  1. This is so exciting! Just another step in the right direction towards a recession recovery.!

  2. UPDATE: I spoke with a representative from the MHDC today about this program. Apparently, no applications have been received for the program as of yet. She expects that sales closing in February and March will probably come in under the wire (before the $15M in funds is depleted) but once the market picks up in the spring and the program grows in popularity, the funds are expected to go quickly.

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