The Florissant 1st HOME program is awesome. Why? This is an effort by the City to provide you zero-interest down payment loans to income-eligible first time 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
FY 2018 Income Limit Category
Low (80%) Income Limits
The Housing Partnership
336 E. Ripa Avenue
St. Louis, MO 63125