Downpayment Assistance

Down Payment and Closing Cost Assistance Program

Our down payment assistance program can help you reach your goal of homeownership.

Funds available

Funds are limited and released annually on a first-come, first-serve basis. Funds are only reserved upon receipt of a fully executed sales contract.

Zero percent interest and 5 year forgivable loans:
$5,000: Jefferson County
$5,000: St. Charles County
(which includes Cottleville, Dardenne Prairie, Lake St. Louis, St. Paul, St. Peters, Weldon Spring, Wentzville and all of unincorporated St. Charles County)
$5,000: City of St. Charles
$5,000: City of O'Fallon
Zero percent interest and deferred (due upon sale) loans:
$3,000: St. Louis County
$3,000: is available for those purchasing a Certified 24:1 CLT Home

*Please Note: Anyone interested in obtaining down payment assistance must have completed the Home Buyer’s Training and one-on-one counseling session. Course completion does NOT guarantee assistance.

Steps

  • Complete Home Buyers Training (classroom or on-line). Learn More
  • Complete one-on-one counseling session.
  • Contact your lender and realtor to forward file items. File Checklist
  • Work with the Beyond Housing Lending team to receive your approval letter, process your file and close on your client's home!

*Please Note: Anyone interested in obtaining down payment assistance must have completed the Home Buyer’s Training and one-on-one counseling session. Course completion does NOT guarantee assistance.

  • Must be a first time homeowner. (See definitions section below)
  • Must complete homebuyer education and one-on-one counseling with “Homeownership Ready” status. Register
  • Buyers must spend at least $1000 of their own funds in the home purchase.
  • Gross household income from all household members and all income sources (including child support, disability, retirement, etc.) must not exceed 80% median income. (See definitions section below)
  • Must have secured a fixed rate mortgage on the purchased home.
SEE DPA Program Information Booklet FOR FURTHER DETAILS.

HOW DO YOU DEFINE A “FIRST-TIME HOMEBUYER”?

First-Time Homebuyer: having not owned a home in the past three years or having lost a home due to divorce and have custody of children from the divorce. (Unincorporated St. Charles County does NOT have this restriction).

HOW DO YOU DEFINE “MEDIAN INCOME LIMITS”?

FY 2016 Income Limits for 80% of HUD Area Median Income

 1 Person   $41,750 5 persons $64,400
 2 Persons $47,700 6 Persons $69,150
 3 Persons $53,650 7 Persons $73,950
 4 Persons $59,600 8 Persons $78,700

Purchase price must NOT exceed sales price limits as follows:

FY 2017 HOME Homeownership Sales Price Limits

  Existing Home Limit

New Construction
Home Limit

St. Louis County $147,000 $224,000
St. Charles County $162,000 $224,000
Jefferson County $143,000 $224,000


St. Louis County reserves the right to determine eligibility of each home. Properties within the cities of Bellerive & Florissant are not eligible.  St. Louis County will determine eligibility prior to acceptance into program.

HOW DOES THE PROGRAM WORK?
  • Our program is designed to educate, counsel, advocate, and assist home buyers with the home buying process. We do this by providing home buyer education that covers the benefits of homeownership, credit, lending practices, home inspections, and more. Our counselors assist with credit building, budgeting, and savings plans. Our lending department is there to facilitate down payment and closing cost assistance and be an advocate for our clients throughout the home buying process.
HOW DO I QUALIFY?
  • A representative from our lending department will determine whether or not you qualify for assistance. The first step is to complete our educational and counseling requirements and forward the items listed below to spreston@beyondhousing.org.
  • Complete Beyond Housing’s home buyer education and one-on-one counseling session
  • Approval from your counselor that you are “Homeownership Ready”
  • A Good Faith Estimate with the subject property listed
  • A recent Credit Report
  • A Residential Sales Contract with all addenda
  • Income information including:
    • most recent consecutive pay stubs showing at least three months worth of income, and
    • proof of other income from self employment, social security, disability, etc. for all household members 18 years old and older. All proof of income should be dated within 6 weeks of closing.

    Note: Married individuals that are legally separated must provide a legal separation agreement. In the absence of such an agreement, all sources of income from both spouses will be included in the household income calculation.

  • Previous year’s W-2’s
  • Last two years tax returns

Without these items, Beyond Housing will be unable to qualify clients for down payment and closing cost assistance funding.

WHAT IS A FIRST TIME HOME BUYER?
  • A first time home buyer is someone who has not owned a home in the past three years or has lost a home due to divorce and has legal custody of minor children. Most, but not all programs and jurisdictions, have this requirement.

Note: Married individuals that are legally separated must provide a legal separation agreement. In the absence of such an agreement, both spouses must qualify as a first time home buyer.

HOW DO I KNOW I AM HOMEOWNERSHIP READY?
  • This is determined in your one-on-one counseling session. Your status can be verified with your counselor.
HOW DO I KNOW IF FUNDS ARE AVAILABLE IN THE AREA I AM BUYING?
CAN I USE DOWN PAYMENT ASSISTANCE WITH MISSOURI HOUSING DEVELOPMENT COMMISSION (MHDC)?
  • Yes, our lending department can provide you with more detailed information.
HOW MUCH DOWN PAYMENT AND CLOSING COST ASSISTANCE CAN I QUALIFY FOR?
ARE THERE CERTAIN LENDERS AND REALTORS THAT I MUST WORK WITH?
  • We work with all lenders and realtors and offer monthly training sessions to assist in understanding how the program works and what is required.
  • Lenders and realtors interested in our training session should email Stacey Preston at spreston@beyondhousing.org.

Title companies are welcome to have certified title agents join our team. Agents must be trained in order to become a certified title agent with Beyond Housing. Please email Stacey Preston at spreston@beyondhousing.org for more information.