Every Missouri loan program Mike runs
One branch manager, the full Missouri menu. MHDC First Place and Next Step down payment help, the MHDC tax credit, FHA, conventional, VA, USDA, jumbo, self-employed, and investor financing. Find the situation that matches yours, then send your scenario. Mike maps the numbers to your county and your credit profile.
The Missouri menu at a glance
Mike does not sell one loan. He fits the first mortgage to your file, then layers assistance where it earns its keep. Here is the shortlist so you can find your situation fast.
| Program | Who it fits | Down payment | Key Missouri detail |
|---|---|---|---|
| MHDC First Place | First-time buyers who need cash help | Assistance covers it | 4% forgivable second, gone by year 10, 640 FICO |
| MHDC Next Step | Higher earners and repeat buyers | Assistance covers part | Same 4% forgivable second, higher income and price limits |
| MHDC MCC | Buyers wanting a yearly tax credit | n/a | 25% to 45% of mortgage interest, up to $2,000 a year |
| FHA | Lower credit, slim savings | 3.5% | 2026 MO floor $541,287 |
| Conventional 97 | Mid-600s and up | 3% | PMI cancels at 20% equity |
| VA | Eligible veterans | $0 | No monthly mortgage insurance |
| USDA | Rural and small-town Missouri | $0 | Income capped near $122,800, address-specific |
| Jumbo | Above the county limit | Varies | All-baseline $832,750, no high-cost county |
| Bank-statement / 1099 | Self-employed | Varies | Qualify on deposits, not net tax income |
| DSCR | Investors | Varies | Qualify on the property's rent |
MHDC down payment assistance: First Place and Next Step
Missouri runs its down payment help through MHDC, the Missouri Housing Development Commission. First Place and Next Step both attach a 4% forgivable second loan, set at 4% of your first mortgage amount. It is not a grant. Forgiveness begins at year five and the balance melts a bit each month until it hits zero at year ten. Stay in the home and you owe nothing. First Place is the first-time-buyer path under the three-year rule, with qualified veterans exempt. Next Step lifts the income and price ceilings and its first mortgage serves repeat buyers. The Missouri down payment assistance page lays out both side by side.
MHDC Mortgage Credit Certificate (MCC)
The MHDC Mortgage Credit Certificate is a federal tax credit you claim every year you hold the loan, not a one-time perk at closing. It converts a slice of your mortgage interest into a dollar-for-dollar credit on your federal return, capped at $2,000 a year. The credit runs 25% on a stand-alone certificate, 35% paired with a Next Step CAL loan, and 45% with a Next Step non-CAL loan. It goes to first-time buyers and qualified veterans with a 640 score, and MHDC issues certificates first-come each year, so ask Mike whether the current allocation is still open.
FHA loans in Missouri
FHA is the common landing spot when credit sits lower or savings are thin. It allows 3.5% down and treats a past credit stumble more gently than conventional financing does. The 2026 FHA floor in Missouri is $541,287 on a single-family home, and because Missouri holds no high-cost county, that floor covers the market across Springfield, Columbia, St. Joseph, and most of the state. An MHDC assistance loan can ride on top of an FHA first mortgage, so the low down payment and the help stack together.
Conventional 97
Once your score clears the mid-600s, conventional financing often beats FHA because the private mortgage insurance cancels at 20% equity instead of running the life of the loan. Conventional 97 allows 3% down, and it pairs cleanly with an MHDC assistance loan for a buyer who has decent credit but little cash. In a market like Lee's Summit or the St. Charles suburbs, where prices run above the state median, that early exit from mortgage insurance adds up over the first few years.
VA loans for Missouri veterans
Eligible veterans, active-duty service members, and surviving spouses can buy with zero down and no monthly mortgage insurance. Missouri holds a deep veteran community, from Fort Leonard Wood in the central Ozarks to Whiteman Air Force Base near Knob Noster and the VA hospitals in Kansas City and St. Louis. A VA loan also waives MHDC's first-time rule for qualified veterans, so a service member can layer First Place assistance and keep that exemption. Mike handles Certificate of Eligibility questions and entitlement restoration when you use the benefit a second time.
USDA loans in rural Missouri
Step outside the Kansas City and St. Louis metro cores and a large share of Missouri qualifies for a zero-down USDA loan, including the Ozarks, the Bootheel, and the farm counties across the northern and southern halves of the state. USDA caps household income near $122,800 for one to four people as of 2026, and the figure is tied to the exact address rather than the county. Confirm your address at USDA's eligibility tool before you count on it, since a home a mile outside a town line can qualify while the one inside does not.
Jumbo loans in Missouri
A loan above your county's conforming limit is a jumbo. In Missouri that line is the same everywhere: $832,750 for 2026 across all 115 counties, because the state carries no high-cost designation. So a jumbo in Kansas City and a jumbo in a rural county start at the identical number, which is unusual and worth knowing when you shop above the median. Jumbo underwriting wants stronger reserves and cleaner documentation. Mike runs full-doc, alt-doc, and self-employed jumbo paths for the higher-end pockets of Clayton, Ladue, and the Country Club district.
Self-employed and bank-statement loans
Tax returns understate what many business owners really earn, because legal deductions shrink the net figure underwriters read. Bank-statement loans fix that by qualifying you on 12 or 24 months of deposits with an expense-factor adjustment. There are also 1099 loans for contractors and agents, and asset-qualifier loans that build income from liquid accounts. These are Non-QM programs, so they sit outside standard agency rules and price on their own terms. Missouri has a wide base of self-employed buyers, from Columbia consultants to Springfield tradespeople, and this is often the path that gets them a yes.
Investor and DSCR loans
DSCR loans qualify on the rental income a property produces, not your personal tax return. That keeps investors moving without stacking personal debt-to-income limits. Mike runs standard rental and short-term-rental DSCR options, cash-out refinances for pulling equity into the next deal, and portfolio structures for buyers scaling past a few doors. Missouri rental demand holds up well in the Kansas City metro, the St. Louis inner ring, and the college market around Columbia, where the University of Missouri keeps tenant turnover steady.
Bridge financing to buy before you sell
Move-up buyers in tight Missouri markets often need to buy the next house before the current one sells. A bridge structure lets you write a clean, non-contingent offer, which reads far stronger to a seller than one hinging on your sale closing first. That matters in fast pockets like the Kansas City suburbs and West County St. Louis. Mike underwrites the bridge against your existing equity plus the new purchase, then coordinates the two closings so you are not carrying two mortgages any longer than you must.
Missouri loan program FAQ
What down payment assistance does MHDC offer in Missouri?
The Missouri Housing Development Commission runs two paths, First Place and Next Step. Both attach a down payment loan worth 4% of your first mortgage as a forgivable second. Forgiveness begins at year five and drops to zero by year ten, so a buyer who stays put owes nothing. Sell, refinance, or move sooner and you repay the unforgiven share. Both want a 640 middle score, and 660 on a manufactured home.
What is the 2026 conforming loan limit in Missouri?
$832,750 on a one-unit home in every Missouri county for 2026. Missouri is an all-baseline state, so all 115 counties share that same figure with no high-cost exception, from Jackson and St. Louis counties to the smallest Ozark county. A loan above $832,750 is a jumbo, which asks for stronger reserves and cleaner documentation. Confirm the current figure at the FHFA county file.
Can self-employed buyers qualify in Missouri without tax returns?
Yes. Bank-statement loans qualify you on 12 or 24 months of deposits with an expense-factor adjustment, not the thin net figure that shows after your deductions. There are also 1099 loans for contractors and asset-qualifier loans that build income from liquid accounts. These are Non-QM programs, so they sit outside standard agency rules. Mike matches the method to how a Kansas City or Springfield business owner actually gets paid.
What credit score does an MHDC First Place or Next Step loan require?
MHDC sets a 640 minimum middle credit score on both First Place and Next Step, and 660 on a manufactured home. That is lower than the 660 or 680 some buyers assume. First Place is for first-time buyers under the three-year rule, with qualified veterans exempt. Next Step raises the income and price ceilings and its first mortgage serves repeat buyers. Confirm current Next Step assistance eligibility at mhdc.com.
Which Missouri areas qualify for a zero-down USDA loan?
Most of rural Missouri outside the Kansas City and St. Louis metro cores qualifies, including the Ozarks and the farm counties across northern and southern Missouri. USDA asks for no down payment and caps household income near $122,800 for one to four people as of 2026. Eligibility is tied to the exact address, not the county, so confirm the property at USDA's eligibility tool before you write an offer.