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First-Time Buyer loans in Missouri

Quick answer

First-time buyers in Missouri can use FHA (3.5% down), conventional 97 (3% down), VA or USDA loans, plus programs from Missouri Housing Development Commission (MHDC). On a $215,600 home, 3% down is about $6,468.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

First-Time Buyer loan snapshot for Missouri

ItemEstimate
Minimum down payment0%–3.5%
Minimum credit score580–620
Typical MO home value$215,600
3.5% down on typical home$7,546
20% down on typical home$43,120
Avg. effective property tax0.88%/yr (~$157/mo)
Income for typical home (31% rule)$67,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Missouri programs pair with First-Time Buyer loans?

  • First Place Loan: A first mortgage for first-time buyers with optional cash assistance.
  • Next Step: A first mortgage with assistance for buyers who aren't first-time but meet income limits.

Details and current limits: Missouri Housing Development Commission (MHDC).

Compare first-time buyer loan options

LoanMin. downMin. creditMortgage insurance
FHA3.5%5801.75% upfront + annual MIP
Conventional 97 / HomeReady / Home Possible3%620PMI, removable
VA0%Lender-set (~580–620)None (funding fee)
USDA0%~6401% upfront + 0.35% annual

Who counts as a first-time home buyer?

Under HUD and most agency definitions, you're a first-time buyer if you haven't owned a principal residence in the last three years. Single parents and displaced homemakers who only owned with a former spouse may also qualify.

First-Time Buyer loans in Missouri cities

First-Time Buyer in Kansas CityFirst-Time Buyer in St. LouisFirst-Time Buyer in SpringfieldFirst-Time Buyer in ColumbiaFirst-Time Buyer in IndependenceFirst-Time Buyer in Lee's SummitFirst-Time Buyer in O'FallonFirst-Time Buyer in St. JosephFirst-Time Buyer in St. CharlesFirst-Time Buyer in Blue SpringsFirst-Time Buyer in St. PetersFirst-Time Buyer in JoplinFirst-Time Buyer in FlorissantFirst-Time Buyer in ChesterfieldFirst-Time Buyer in WentzvilleFirst-Time Buyer in Jefferson CityFirst-Time Buyer in Cape GirardeauFirst-Time Buyer in WildwoodFirst-Time Buyer in OakvilleFirst-Time Buyer in University CityFirst-Time Buyer in BallwinFirst-Time Buyer in LibertyFirst-Time Buyer in RaytownFirst-Time Buyer in KirkwoodFirst-Time Buyer in MehlvilleFirst-Time Buyer in Maryland HeightsFirst-Time Buyer in GladstoneFirst-Time Buyer in GrandviewFirst-Time Buyer in HazelwoodFirst-Time Buyer in BeltonFirst-Time Buyer in NixaFirst-Time Buyer in RaymoreFirst-Time Buyer in Webster GrovesFirst-Time Buyer in OzarkFirst-Time Buyer in SedaliaFirst-Time Buyer in Old JamestownFirst-Time Buyer in ArnoldFirst-Time Buyer in RollaFirst-Time Buyer in AfftonFirst-Time Buyer in WarrensburgFirst-Time Buyer in RepublicFirst-Time Buyer in Creve CoeurFirst-Time Buyer in FergusonFirst-Time Buyer in ManchesterFirst-Time Buyer in Spanish LakeFirst-Time Buyer in ConcordFirst-Time Buyer in FarmingtonFirst-Time Buyer in Lake St. LouisFirst-Time Buyer in KirksvilleFirst-Time Buyer in ClaytonFirst-Time Buyer in HannibalFirst-Time Buyer in LemayFirst-Time Buyer in Poplar BluffFirst-Time Buyer in SikestonFirst-Time Buyer in Grain ValleyFirst-Time Buyer in OverlandFirst-Time Buyer in JacksonFirst-Time Buyer in CarthageFirst-Time Buyer in LebanonFirst-Time Buyer in Washington

Frequently asked questions

Yes. First-Time Buyer loans are available statewide in Missouri through approved lenders, subject to county loan limits where they apply.

Often yes. Missouri Housing Development Commission (MHDC) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

Answer a few questions on Purchase Mortgage Loan and we'll match you with lenders and loan officers in our network who serve Missouri.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.