Down Payment Assistance: You Have Options!
Complete the Down Payment Assistance Finder and I will email you DPA programs you qualify for and more. Fill Out The DPA Finder, Then Read and Learn More About What Can Be Available to You

Down Payment Assistance Programs

When it comes to down payment assistance there are plenty of options available to you if you are purchasing a new home in the State of Missouri. There are local programs scattered throughout the State of Missouri, I have multiple in-house DPA options, and the State of Missouri offers DPA as well.

State of Missouri

The State of Missouri MHDC program has down payment assistance programs for both First Time Home Buyers and Move Up Home Buyers. The MHDC program will provide 4% of the loan amount to be used for down payment and/or closing costs.

Both FHA and Conventional Mortgage Programs available. 

Minimum Middle Credit Score of 620 or higher for all borrowers
(if you are a near miss on the required middle credit score ask me about the Credit Score Rescue Program)

Program Income Restrictions apply depending on the location of the purchased home. Income is based on the median income (and higher) for the area depending on family structure.

Bonus Down Payment funds for lower income borrowers, up to $2500 extra. Must qualify for the Conventional Freddie Mac 3% down payment mortgage program

First Time Home Buyers is not required

Maximum 45% debt to income ratio

No Lender Junk Fees Allowed

Single Family and 2 Family Residences only

Primary Residences Only

Non-Cash Assistance Available in the form of subsidized lower interest rates

Available Through MHDC Approved Lenders Only

No Required Home Buyer Education

The Down Payment Funds are forgiven if the borrower stays in the house/loan for 10 years. Starting in year 5 the DPA funds provided will diminish/forgiven by 1/60 every month until year 10 when the entire amount will have been forgiven. 

 Down Payment Assistance:

There are multiple local down payment assistance programs that are available in local counties and/or cities. St. Louis City, St. Louis County, Jefferson County, St. Charles County and Kansas City areas all offer some form of down payment assistance.

Many other cities have down payment assistance programs, St. Charles City, St. Peters, O'Fallon, Wentzville, Dardenne Prairie, St. Paul, Cottleville, Springfield, Florissant, Columbia, St. Josephs, Joplin, Blue Springs, Ozark, Independence, and Jefferson City are all programs I have utilized with home buyers recently or in the past.

All local DPA programs are for lower income families, generally much lower maximum income requirement than MHDC. These programs can provide funds from $3,000 up to $10,000 depending on the local DPA program. 

These programs will have their own guidelines and are generally stricter than MHDC, most will require a lower debt to income ratio generally around 41%. 

All Mortgage Programs Are Available

Some Programs will require some investment by the borrowers, generally $1000

620 or Higher Middle Credit Score is typical

Each program may require repayment of down payment assistance funds with some providing forgivable funds, forgiveness comes generally after 5 years residency in the home and mortgage. 

Most will require participation in a home buyer education class/course


I am a mortgage loan officer with New American Funding we are a national mortgage lender/bank with offices in 38 states and licensed in 48 states. New American Funding provides multiple in-house down payment assistance programs.  The New American Funding Down Payment Assistance Programs help home buyers when they just don't quite qualify for the MHDC State of Missouri programs or any of the local DPA programs.

FHA and Conventional Programs Available

Available to First Time Home Buyers, Move Up Buyers, and Re-Entry Home Buyers

Minimum Credit Score of 620 Middle Credit Score or Higher

Up to a 50% Debt to Income Ratio Allowed

Home Buyer Education Required For Home Buyers With Credit Scores Between 620 - 639

No Mortgage Insurance Option Available

Maximum Income Restrictions Up To 140% of the Median Income of the Area 

Minimum Required Down Payment Assistance Depending on Mortgage Program. FHA Mortgage 3.5% of the Sales Price and Conventional 3% of the Sales Price

Repayment of Down Payment Assistance Funds is dependent on DPA Program, multiple options available

Single Family Residences (1 unit only), Condos, Townhouses, Modular Homes but not Manufactured

Primary Residences Only

I will help you, I know Down Payment Assistance very well, better than most. Down Payment Assistance in not available with all lenders, many will not or cannot offer down payment assistance. I recommend down payment and closing cost help to most First Time Home Buyers as it can provide a great mortgage program as well as financial security at the start of owning your new home.

Purchasing your next home with little to nothing out of pocket is very possible when you utilize down payment assistance. The secret to purchasing a home with zero out of pocket are the available grants. subsidies, and/or concessions available.

When I go to work for you as your mortgage loan officer we will determine the best down payment assistance program for you. Once the DPA program is determine then we will determine the best grants, subsidies, concession options to have your closing costs paid for you.

Having your down payment provided for you and your closing costs paid for you, you are now purchasing your next new home with nothing out of pocket!
I work with home buyers every month that utilize this ZERO PROGRAM, even when they may have saved money for a home purchase. 

Visit ZERO PROGRAM and Learn More


For qualified First Time Home Buyers, commonly referred to as a MCC is a state issued mortgage credit certificate. The MCC is used by the new home owner to claim a non-refundable FEDERAL TAX CREDIT.

The MCC is designed to help first time home buyers qualify for a home by reducing federal tax liability, offsetting a portion of their mortgage interest.

The MCC will decrease how much you owe the IRS each year you stay in your first home and it can provide you more money to your paycheck!

Zero Down Payment Mortgage Programs

There are two mortgage programs

Are you a Veteran? Show me your DD214 and your Certificate of Eligibility and it may be possible that you are eligible for a VA Mortgage. The VA Mortgages has no down payment requirement and is the #1 Best Mortgage Program in my opinion. 


What is the #2 Best Mortgage Program in my opinion? The USDA Rural Development Mortgage Program! Are you thinking about buying your next new home in a rural area or outside of the major cities in the State of Missouri? If you answered YES or you are not quite sure then you need to look into a USDA RD Mortgage.


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. 

Take the Quiz!
Know if you are qualified for down payment!



Bob Rutledge Mortgage

Loan Officer NMLS#: 297044

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