ST. LOUIS COUNTY, Mo. – More funding is coming for a St. Louis County program intended to help first-time homebuyers bridge the gap of certain costs in home ownership.
St. Louis County is preparing to increase funding for St. Louis County HOME Consortium, a down-payment assistance and home improvement program coordinated through the county’s Office of Community Development.
The program provides down payment assistance loans to income-eligible first-time homebuyers to help with the down payments and various closing costs associated with buying a home. According to a news release from the county, funding will increase to provide additional assistance to homebuyers amid recent housing market spikes.
“We recognize that the cost to buy a home or make repairs has gone up and we want to make sure our programs continue to ease the burden for low and moderate-income families,” said County Executive Dr. Sam Page. “This investment in our community ensures that residents have access to safe, suitable housing.”
The St. Louis County HOME Consortium program consists of various parts of St. Louis County and the City of Florissant. Down payment assistance loans will double from $3,000 to $6,000 for eligible homeowners in St. Louis County and increase from $3,000 to $5,000 in Florissant.
For more information on the program, contact the Housing Programs Manager at 314-615-4555.