The HOME St. Charles program is an effort by the County to provide zero-interest down payment loans to income-eligible homebuyers within the participating jurisdictions of the St. Charles Urban County, Cottleville, Dardenne Prairie, Lake St. Louis, St. Paul, St. Peters, Weldon Spring, Wentzville, or the unincorporated area of St. Charles County. Under this initiative, the 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, due upon sale or transfer of title and will be originated and sold to the County by approved not-for-profit housing counseling agencies. The 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.
Low (80%) Income Limits