First-Time Home Buyer Guide
Step-by-step guidance for your first home purchase in Missouri, including exclusive state-level Down Payment Assistance details.
Your Journey Starts Here
Buying your first home in Missouri is an exciting milestone, but the process can feel overwhelming. At Mortgage Store LLC, we specialize in helping first-time buyers navigate the complex world of real estate financing.
We'll help you understand how much you can afford, what to expect during the loan process, and how to take advantage of state-specific programs designed just for you.
- Personalized mortgage planning
- Access to exclusive Missouri DPA programs
- Clear communication at every step
- Stress-free closing process
The First-Time Buyer Advantage
Lower Down Payments
Programs like FHA and Conventional 97 allow down payments as low as 3% to 3.5%.
State Assistance
Missouri offers specific grants and forgivable loans to help cover upfront costs.
Tax Benefits
Potential access to Mortgage Credit Certificates (MCC) for annual tax savings.
Missouri State-Level DPA Programs
We are approved lenders for the Missouri Housing Development Commission (MHDC), offering these exclusive first-time buyer benefits.
First Place Program
MHDC's First Place program is specifically for first-time homebuyers and eligible veterans. It provides below-market interest rates and can be paired with cash assistance.
- Below-market interest rates
- Available for FHA, VA, USDA, and Conventional
- Must meet income and purchase price limits
Cash Assistance Loan (CAL)
Often combined with the First Place Program, CAL provides 4% of the loan amount to be used for down payment and closing costs, structured as a forgivable second mortgage.
- Provides 4% of the loan amount
- Forgiven after 10 years in the home
- Reduces out-of-pocket closing costs
The First-Time Buyer Process
Six simple steps to owning your first home.
Get Pre-Approved
Before house hunting, get pre-approved to know exactly how much you can afford and show sellers you are a serious buyer.
Find a Real Estate Agent
Partner with a local Missouri real estate agent who understands your needs and the local market.
House Hunting & Offer
Find your dream home and make a competitive offer with the help of your agent.
Home Inspection
Once your offer is accepted, get a professional home inspection to ensure the property is in good condition.
Loan Processing & Appraisal
We'll finalize your loan details and order an appraisal to verify the home's value.
Closing Day
Sign the final paperwork, pay any remaining closing costs, and get the keys to your new home!
Frequently Asked Questions
Common questions from first-time buyers.
Ready to Buy Your First Home?
Choose the option below that works best for you.
Talk With Yvonne
Thinking about buying, refinancing, or just exploring your options? Pick a time that works for you and Yvonne will personally reach out to discuss your goals and answer your questions—no obligation.
Apply Here
Ready to see exactly what you qualify for? Start your secure application online.
Start Application