First-Time Home Buyer Programs in Missouri: What’s New in 2025?

🏡 First-Time Home Buyer Programs in Missouri: What’s New in 2025?

Buying your first home is exciting — but let’s be real, it can also feel overwhelming, especially in 2025’s market. The good news?
Missouri offers several first-time home buyer programs that can make purchasing your dream home in Springfield and surrounding areas a lot more affordable.

As your trusted real estate expert, I’m breaking down the latest programs, grants, and incentives available in Missouri this year. Whether you need help with your down payment or lower mortgage rates, these 2025 updates could help you buy sooner than you think!

✅ What Is a First-Time Home Buyer in Missouri?

Good news: you may qualify as a first-time buyer even if you’ve owned a home before!
✔️ In Missouri, you’re considered a first-time buyer if you haven’t owned a home in the past 3 years.

1️⃣ MHDC First Place Loan Program (2025 Update)

Offered through the Missouri Housing Development Commission (MHDC), this program is a go-to option for first-time buyers in Springfield.
✔️ Offers below-market interest rates on 30-year fixed loans
✔️ Can be combined with down payment assistance (see below!)
✔️ Income and purchase price limits apply (which vary by county)

🌟 2025 Update: Income limits have increased slightly, meaning more buyers qualify this year!

2️⃣ MHDC Cash Assistance Loan (CAL) — Down Payment Help

Struggling with the down payment? This is a game-changer.
✔️ Offers up to 4% of your loan amount to cover down payment and closing costs
✔️ It’s a forgivable second mortgage — if you stay in the home for 10 years, you don’t have to repay it!

🌟 Pro Tip: Combine this with the First Place Loan for maximum savings.

3️⃣ Next Step Program — For Repeat Buyers Too!

Not a first-time buyer but still need help? The MHDC Next Step Program is available to both first-time and repeat buyers.
✔️ Offers competitive rates and down payment assistance
✔️ Great option for buyers in Springfield upgrading or relocating

🌟 2025 Update: Available statewide with expanded income limits this year!

4️⃣ Federal First-Time Home Buyer Tax Credit (2025 Proposal)

The federal government has proposed reinstating a $15,000 first-time home buyer tax credit in 2025.
✔️ Would provide direct tax relief for qualifying buyers
✔️ Not yet finalized — stay tuned for updates later this year!

🌟 Pro Tip: I’ll keep my clients updated the moment this program goes live.

5️⃣ Local Springfield & Greene County Grants

Some local organizations and lenders offer special grants for buyers purchasing in Springfield and surrounding towns.
✔️ Programs change frequently — I help my clients tap into these hidden gems!

🎯 How to Qualify for Missouri First-Time Buyer Programs

While each program has its own rules, most require:
✔️ A credit score of at least 640
✔️ Stable income within program limits
✔️ Completion of a home buyer education course (I can help you find one!)

✅ Ready to Unlock These Benefits?

Buying your first home in Missouri is more achievable than ever in 2025 — especially if you take advantage of these programs.
As your real estate agent, I specialize in guiding first-time buyers step by step, from pre-approval to closing.

📞 Let’s connect and create your custom first-time buyer game plan today!