1st HOME - Downpayment Loan Program
City of Florissant
The Florissant 1st HOME program is an effort by the City to provide zero-interest down payment loans to income-eligible homebuyers in Florissant. Under this initiative, the Florissant 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 Florissant by approved not-for-profit housing counseling agencies. Florissant 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.
HOUSING COUNSELING REQUIRED
Loan Amount
$3,500.00
Participating Lender/Counseling Agencies
Beyond Housing/NHS
4156 Manchester
St. Louis, MO 63110
(314) 533-0600 |
Northeast Community
Action Committee
3400 Meadow Pointe Dr
O'Fallon, MO 63366
(800) 748-7636 |
