Hope Missouri 1250 and 500 incentive good for first time buyers and re purchases

There is alot of confusion on how this program works and what the guidelines are. I am here to answer all your questions.Missouri has allocated 15million dollars in funds for both theup to 1250 in mo taxes and and additional 500 for buying engery star appliances and others. Also below are some questions buyer and realtors alike have asked.
When is a buyer eligable for the incentive?
purchase a home between Jan 1 2010 and be closed by December 31 2010 as long as fund are still available.
What is the method to pay approved applicants?
the preffered method is direct deposit into your bank account or by check can take 6-8 weeks. However has taken less time
What are the repayment conditions of this program?
you only have to repay this amount if you don't stay in your home for  1 year.
Are repeat buyers eligible?
both first time a repeat buyers are eligible.
Are there income and purchase limits for this program?
Purchase price limits are
Single family $258,690 for non target area 316,177 for target area
Duplexs/town homes 291,280 non target area and 355,000 for target area

for more information on target and non-target area please feel free to contact me to look up this information it goes by address.

The income limits for st.louis, franklin, jefferson, lincoln, st. charles, st. louis city, st. louis county, and warren counties are
1-2 person household = non target area= 67,900
3+ person household= non target area= 78,085

1-2 person household= target area= 81,480
3+ person household= target area= 95,060

this is projected 12 months income from date of application.

for other counties please contact me to assist i will look it up for you.

Hope this helps please let me know if you have more questions.

  • March 22 2010 - O Fallon
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