Big Picture — Down Payment Assistance in St. Louis & St. Charles

Down Payment Help in St. Louis & St. Charles: What You Need to Know  |  Week 1 / Part 1

Last year, I worked with a buyer who completely changed the way I talk about down payment assistance. She was in her 50s, had never owned a home before, and honestly believed homeownership was something that had passed her by. 

When we first connected, she told me flat out: “I’ll never be able to buy. I just don’t have the savings.” She’d been renting for decades, watching prices climb, and assumed she’d be stuck as a tenant for the rest of her life. 

But I encouraged her not to write herself off. I told her it was worth at least having a conversation with my lending partner, Aaron Emerson. Aaron took the time to listen, ran through her numbers, and then connected her with Beyond Housing. The result? She qualified for $7,000 in down payment assistance. That was the missing piece. With that help, she was able to finally purchase her very first home — something she thought would never happen. 

I’ll be honest: it was one of the coolest moments I’ve had in this business. Watching someone step into homeownership for the first time in their 50s, knowing they’d just secured stability and equity after years of renting, was powerful. And it reminded me of something I think every buyer in St. Louis and St. Charles counties needs to hear: there are programs out there to help, and you don’t have to do this alone.

 The Down Payment Myth

When most people think about buying a house, the first roadblock they hit is the down payment. If you’ve Googled it, you’ve probably seen that intimidating “20% down” number. On a $250,000 house, that’s $50,000 cash. For most people, that feels like climbing a mountain with no ropes. 

Here’s the truth: you don’t need 20% down. In fact, right here in St. Louis and St. Charles counties, there are programs designed specifically to help buyers overcome that hurdle. And the two biggest players are: 

• Beyond Housing — a local nonprofit that provides up to $10,000 in forgivable down payment assistance.
• MHDC (Missouri Housing Development Commission) — the statewide program that offers up to 4% of your loan amount in assistance.

How Beyond Housing Works

Beyond Housing is a nonprofit with a long track record in our community. Their mission is about more than just homeownership — but their down payment assistance program is one of the most impactful things they offer. 

Here’s what makes it special: 

• The Amount: Up to $7,000 in St. Louis County and up to $10,000 in St. Charles County.
• The Terms: It’s structured as a 0% interest forgivable loan. No monthly payments. Live in the home for five years, and it’s forgiven entirely.
• The Education: Buyers take a homeownership education course. It’s not just a box to check — it’s practical coaching on budgeting, mortgages, inspections, and long-term financial health.
• The Requirements: Income limits apply (usually around 80% of the area median income, which still covers a lot of working families). The home must meet certain guidelines (no flood zones, must pass inspection, price caps apply). 
  
  This is exactly what helped my client. She didn’t suddenly become wealthy overnight. She simply took advantage of a program that was sitting there, waiting for buyers like her.

 How MHDC Works

On the other hand, MHDC (the Missouri Housing Development Commission) runs programs across the entire state. Instead of working directly with buyers, MHDC works through approved lenders. That means when you get a mortgage with one of those lenders, they can also add MHDC assistance into the deal. 

They run two main programs: 

• First Place: For first-time buyers and veterans. Offers up to **4% of your loan amount** toward down payment and closing costs.
• Next Step:** For buyers who aren’t first-time. Same percentage-based assistance, with slightly different income limits.

What’s powerful about MHDC is the scalability. On a $200,000 loan, 4% means $8,000 in assistance. On a $300,000 loan, that’s $12,000. 

Why These Programs Matter

Down payment assistance is more than just free money. It changes the psychology of homeownership. 

• It turns *“I can’t save fast enough”* into *“I can buy now.”*
• It prevents buyers from draining their emergency funds just to scrape together a down payment.
• It opens the door for buyers who thought ownership wasn’t for them — like my client in her 50s.

These programs are also underutilized. The funds are there. The systems are in place. But too many buyers never apply because they don’t know, or they assume they won’t qualify. 


What Buyers Need to Know

If you’re considering buying in St. Louis or St. Charles County: 

• Check Beyond Housing first.** If you’re in their service area, their flat $7,000–$10,000 can make all the difference.
• Ask your lender about MHDC.** If you’re buying anywhere in Missouri, or you’re not a first-time buyer, MHDC may give you even more.
• Don’t assume you don’t qualify.** Income limits are higher than most people think. A two-income family can often qualify.
• Be ready for education.** Both programs require you to learn — but that’s a good thing. The knowledge you gain will save you money and headaches later.

Your Next Step

If you’ve been sitting on the sidelines waiting until you’ve saved “enough,” it’s time to rethink the plan. Assistance is available now, and it could be the missing piece between renting another year and owning your home. 

And here’s the good news: you don’t have to figure it out on your own. 

Our team at Midwest Horizon has already helped clients walk this exact path — including my buyer who went from doubting she’d ever own a home to holding the keys in her hand. We know the programs, we know the lenders, and we know how to coach you through the process. If you’re eligible for up to $10,000 in down payment help, let us guide you to the closing table.