Missouri Mortgage Clearing House is passionate about providing down payment assistance for our clients in St. Louis or surrounding areas of Missouri. Whether you are a first time home buyer, or just looking for a loan option with a low down payment, our 1% Down Equity Builder Program is a great option available through Freddie Mac. This government-sponsored mortgage is provided through the Federal Home Loan Mortgage Corporation, and is currently only offered through a couple select lenders. To purchase a home with a low down payment, you need not look any further!
This down payment assistance program is a 30 year fixed rate mortgage with competitive interest rates and no prepayment penalty. It applies to owner occupied homes only and is available to first time home buyers or people who have previously owned a home. As a home buyer this 1% down loan is beneficial, allowing you to purchase your new home with a low down payment, or nearly zero down payment. We are also able to close in a timely manner.
Home buyer programs have a defined process to apply for, but have many options and opportunities. To qualify for our 1% Down Equity Builder Program, there is specific criteria, but Missouri Mortgage Clearing House is willing to work with you to determine your eligibility. Based on your answers to just a few questions, we will be able to figure out what programs you qualify for, and how we can help you achieve a low down payment.
With down payment assistance, you are only investing 1% down on the home, but you are actually gaining 3% equity through the lenders 2% contribution. This allows you to keep more money in your pocket for moving expenses or furnishing your new home, permitting you to spend on other things that matter to you!
Are you currently renting or considering renting a house or apartment in St Louis? You may not be aware that one month’s rent could get you into your dream home. Did you know that you could purchase a home with a down payment for the same or less than the typical security deposit and first month’s rent required to rent an apartment or home? This is about as close as you’ll get to a No Money Down Payment loan!
Down payment assistance allows you to increase purchasing power by leveraging capital, make little to no payments, and qualify for a home loan even with a low down payment. At any price, Missouri Mortgage Clearing House will be able to get you into the home you’ve been dreaming about here in the St Louis area, for the least amount possible. Down payment assistance is also available for refinances.
Although low down payments are an excellent choice for many first time home buyers, a common myth is that they are not an option for other types of home buyers. In fact, you may be considered a first time home buyer even if you already own a home. If you have not owned a home in over three years, you may be eligible. Additionally, depending on where you are looking to buy, you may qualify for other special benefits.
The 1% Down Equity Builder Program can be used for homes of many costs, from inexpensive homes to homes with higher costs. In fact, on average, as many as 70% of all homes are eligible for low down payment programs. Our down payment assistance programs are also compatible with more than just FHA Loans.
Missouri Mortgage Clearing House is celebrating its 17th year located in Fenton, Missouri. We also work with clients in St. Louis, St. Charles MO, Jefferson County MO, Kansas City MO, Springfield MO as well as throughout the entire state of Missouri.
For more information or to see if you qualify please call us at (636) 717-1900, Apply Now, or fill out the information to the right and we’ll get in touch with you.