The Jefferson County 1st HOME program is an effort by the County to provide zero-interest down payment loans to income-eligible first time homebuyers in Jefferson County. Under this initiative, Jefferson County will purchase subordinated second mortgage loans which finance, in conjunction with the origination of the primary loans by the Mortgage Lender, the down payment and eligible closing costs associated with acquiring qualified owner-occupied residences.
The Second Mortgage Loans are at zero percent interest, forgivable after 5 years and will be originated and sold to Jefferson County by approved not-for-profit housing counseling agencies. Jefferson County will provide each housing counseling agency with a program manual that will provide detailed Program Procedures, and will coordinate a training and review session with participating agencies.
note that Jefferson County DOES NOT subordinate any down payment
assistance loans. In lieu of a subordination request, please contact the St.
Louis County Office of Community Development to receive a payoff statement.
FY 2016 Income Limit Category
Low (80%) Income Limits