St. Louis, St. Charles, Jefferson County
and The State of Missouri

Down Payment Help.jpg

There are many options for down payment help in the St. Louis area which includes St. Louis City, St. Louis County, St. Charles County and Jefferson County. Plus the entire State of Missouri. It all starts with a mortgage loan officer and lender that specialize in down payment help for home buyers!

Imagine buying your first home or your next new home with
no down payment out of your pocket!

?buying your first new home with little to no money out of pocket, no down payment and your closing costs paid too!

Are you a first time home buyer, have you not owned a home in over 3 years, are you a move up home buyer, are you wanting to purchase your next new home?
Then Down Payment Help is available to you!

There are multiple down payment assistance programs in the St. Louis Area, you need a mortgage loan officer that specializes in down payment assistance to help you through all the programs to help determine how to make these DPA programs work for you!

MHDC First Place Mortgage


The State of Missouri has a down payment assistance program through the Missouri Department of Housing Commission referred to as MHDC, this program serves the entire state of Missouri. The MHDC First Place Program is only for first time home buyers and home buyers that have not owned a home in over 3 years.

The MHDC down payment assistance program will provide up to 4% of the loan amount for down payment assistance to you, this program is an excellent option for first time home buyers who will utilize the FHA mortgage program.

FHA has a minimum down payment requirement of 3.5% and by using the MHDC
program your entire down payment requirement for FHA is covered. Plus, you have a little extra money left over to be used toward closing costs.

The MHDC First Step Program also has a great Conventional option that utilizes a 3% down payment mortgage, so the 4% down payment assistance can be used for a larger down payment and/or closing costs. 

The Conventional mortgage option has an added bonus of additional funds for your new home if your income is lower than the median income for the area you are buying your new home in. If you income falls below 50% of the median income for the area you will receive an additional $2500 and if your income falls between 50% to 80% of the median income levels then you will receive an additional $1500. Along with the 4% down payment assistance funds!

Not all lenders in the area work with the MHDC down payment program, to find a list of the program lenders you can visit their website or contact me using the form below and I will help to get you approved for your mortgage with down payment assistance through MHDC.

There are income restrictions to this program determined by family/household size and geographical area.

MHDC Next Step Program
MHDC Recently rolled out a new Down Payment Assistance Program that is not only for First Time Home Buyers but can also be used for Move Up Home Buyers who are purchasing a primary residence and do not own any other homes.
The qualification for this program is very similar to the First Place Mortgage Program except that they allow for a much higher household income.

The MHDC Next Step Program is for home buyers who make a little more than the average median income for the area but want a little help with the down payment for their next new home.

St. Louis City and St. Louis County:
?The 1st Home Program is offered throughout the St. Louis County area and St. Louis City. This program is provided through multiple different groups in the area, Beyond Housing, Better Family Life, NECAC, and others. But, like the MHDC program this down payment assistance is coordinated through your mortgage loan officer in conjunction with your mortgage application, I can help.

This program provides up to $3,000 in St. Louis County, except Florissant where the down payment help is $3,500, and in St. Louis City the down payment assistance is $3,500.
The money provided can be used for either your down payment, your closing costs, or both. The programs does require that you contribute at least $1000 of your own money in the purchase of your new home.
Other requirements of this program includes income limitations depending on household size and home buyer education and counselling is required. This program is for very moderate to low income home buyers. You are required to take a home buyer education course. 

St. Charles County Area:
In the St. Charles County area nearly the entire area is covered by a $5,000 down payment assistance provided to first time home buyers. At times this amount is bumped up to $10,000 depending on the availability of program funds and the housing market. But, there is some differences in the program depending on where you are purchasing your new home. 
This program is the same program as that in St. Louis County, provided by the same providers, and coordinated through your mortgage loan officer. But, because of the differences in this program between the cities, county and municipalities it is highly recommended that you contact me as soon as possible to get it figured out.
The list of participating areas is extensive and they all have at least the $5,000 available to first time home buyers; included in the area is St. Charles City, Unincorporated St. Charles County, O'Fallon, St. Peters, Weldon Springs, St. Paul, Lake St. Louis, Dardenne Prairie, Cottleville, and Wentzville.

Jefferson County:
Again here this program is very similar to that in St. Louis County with some slight differences, and the down payment assistance program provides up to $5,000 to help you buy your first home.
Keep in mind that Jefferson County is also partially in the USDA Rural Development territory, the USDA mortgage program is a great no down payment mortgage program open to any home buyer.
We are one of the few lenders in the area that offers MULTIPLE in-house down payment assistance programs. These DPA programs are designed to fill the holes that many of the local and state down payment assistance programs.
If you are finding that you don't qualify for MHDC or any of the local down payment assistance programs we can look at these programs for help. They provide more lenient credit qualification and higher to no income limits.

I am here to help you:

If you are first time home buyer looking to purchase your new home with little to no money out of pocket, I can help you. If you would like to purchase your next new home with little to nothing out of your pocket I can help you, first time home buyer or something else.
Imagine buying your first new home and actually having money in your bank account after you close. Money that can be used not for down payment and closing costs but instead you can put that money to making your new house a home. There will be a lot of items that are needed with your new home, allow me to show you how to use down payment assistance to help.

Feel free to contact me and ask me all the questions you need. Better, is allow me to Pre-Qualify you now. Fill out the form below and I will provide you with a Quick and Easy Pre-Qualification.

Hi, I am Bob Rutledge with New American Funding a progressive and customer oriented Mortgage Company. I have been a Mortgage Loan Officer for over 2 Decades, I have closed 1000s of mortgage, I have experience as a Mortgage Underwriter too.  I specialize in First Time Home Buyer Programs, Renovation and Construction Mortgages, and knowing the best mortgage options, programs and guidelines to provide the best to my clients.  I concentrate on making more options available to home buyers! When we work together you will find that I answer all questions, sometimes before they are asked. I prefer to be available to you as much as my family and life will allow, I am accessible to you via my cell, text, or email, or you can come and visit at my office. You will never 
 wonder if I left you.


Bob Rutledge Mortgage

Loan Officer NMLS#: 297044

New American Funding 12321 Olive Blvd, ste 150
St. Louis, MO 63141