2.25% 30 YEAR 



A very low mortgage interest rate can provide you with a lower house payment and save you money every month, of course. A very low interest rate can provide you with more home buying power! A low interest rate will help you to qualify for more home! A low interest could make it possible to purchase more home AND have a lower house payment! Ask me what a lower interest rate can do for you!

How Do You Get A Low Interest Rate?

The State of Missouri through the Missouri Housing Development Commission, MHDC, provides both a Down Payment Assistance Program or a Low Interest Rate Program to new qualified home buyers. 

The MHDC down payment assistance or low interest rates are made available to you through the mortgage loan officer that is working with you. Your Loan Officer will help you get approved for a mortgage and a MHDC low interest rate or down payment help.

Not all lenders and loan officers are eligible to help you with MHDC, not all lenders want to help with MHDC. I have been helping home buyers secure MHDC low interest rates or down payment assistance for over 25 years. I would welcome the opportunity to help you too!

Click LOW INTEREST RATE to complete the low interest rate quiz or read through and click on the quiz at the end. Within 12 to 48 hours I will provide you with a complete explanation of what would be available to you. The quiz will ask if you want a low interest or down payment help, I can help with both.

After your quiz, I would appreciate becoming your mortgage loan officer. I will help you get pre-approved for a mortgage, set up the MHDC program, and work for you until you close on your new home and beyond that!


How Low Of a Rate?

A lot lower!  The MHDC interest rates will range from a .500% to 1.000% lower than the ordinary market rate, depending on the mortgage program you use, where you live, and whether you qualify for the MHDC First Place or Next Step programs. 

Did you know that a 1/2 percent better interest rate on a loan amount of $200,000 would lower your principal and interest payment by $53.93 a month. A full 1 percent lower interest rate on a $200,000 loan amount would save you $105.92 a month. Money in your pocket is far better than in your lenders pockets!

The State of Missouri posts their interest rates daily but they do not move up or down as much as regular mortgage interest rates. Would you like to see where MHDC interest rates are at today? Here is the link to the current posted interest rates: MHDC RATES


The State of Missouri offers an interest rate to qualified home buyers that is generally always far lower than the current market rate for FHA, VA, USDA, and Conventional home loans. To qualify for these low interest rates you must purchase a new home in Missouri and all borrowers require a middle credit score of at least 640. Your debt to income ratio can not exceed 45% unless your credit score is above 680 and then your debt ratio can be as high as 50%.

There are income restrictions depending on where your new home will be located in Missouri and by the number of people who will be living in the home. The income restrictions are designed for low to moderate income home buyers, but you may be surprised! As high as $121,240 annual income for a family of 3!

You do not have to be a First Time Home Buyer to Qualify!

You do have to provide your own down payment. If you can provide at least a minimum down payment or more you are eligible for the MHDC low interest rates. The minimum down payment for FHA is 3.5% of the sales price, for several conventional mortgages the minimum down payment is 3.0%, and for USDA and VA mortgages there are no minimum down payment.

What if you want to put down more than a minimum down payment? Great! 5%, 10%, 20% whatever you want to use as your down payment as long as the down payment on your new home meets the minimum down payment or more.

Purchase mortgages only

30 year Fixed Rate Mortgage only

There are Purchase Price Limits that range from $311,979 to $488,215 depending on where in Missouri

Single family homes, 2 Unit properties, Condos, Townhomes, and Manufactured Homes, are acceptable.

MHDC dictates to mortgage lenders and title companies what can be charged in closing costs. There are no fluctuations, no junk fees, no add ons.


MHDC First Place Program for first time home buyers only and lower income limits

MHDC Next Step Program for all home buyers and a higher income limit

Down Payment Help

If you are having a difficult time coming up with the down payment MHDC and I may be able to help you. I have access to the MHDC down payment assistance program and several other down payment assistance programs. There are multiple local down payment assistance programs throughout the State of Missouri, I can help you with these local programs too.

If you have at least a 620 credit score and can qualify for a mortgage you may be eligible for down payment help ranging from 3.5% to 5% of the sales price. If you are interested in learning what down payment assistance programs are available visit my Down Payment Assistance Finder page.

I Want To Be Your Mortgage Loan Officer

My name is Bob Rutledge and I am a mortgage loan officer with New American Funding in St. Louis MO. I work with home buyers throughout the State of Missouri. I have been a mortgage loan officer since 1995 and specialize in down payment assistance, first time home buyers, renovation mortgages, and helping home buyers get the best possible mortgage. I developed the Zero Home Buying Program a home buying plan to help home buyers purchase their new home with little to no money out of pocket. Want to know more? 

The MO ZERO Program

When I work for you I will provide you with my cell number and how to contact my team, we will rarely be more than a phone call, a text, or email away from answering your questions and concerns. I encourage you to look for my reviews on Google and Social Survey.

Take The Low Interest Rate Quiz

The quiz takes 2 minutes

In 2 days or less

you will have a reply from me personally!


Bob Rutledge Mortgage

Loan Officer NMLS#: 297044

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