Homeownership Assistance Program – City of Columbia, Missouri | Missouri grant

Homeownership Assistance Program – City of Columbia, Missouri

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City of Columbia – Housing Programs DivisionMOFirst-Time Homeowner

Funding: Provides a zero interest 10 year forgivable loan up to 10000 dollars or 10 percent of the purchase price, whichever is less, that can be used for down payment and allowable closing costs or to reduce the principal on the first mortgage. Prepaid items such as taxes and insurance are not eligible, and buyers must contribute at least 500 dollars of their own funds.Zero interest 10 year forgivable second mortgage for down payment and closing costs funded with federal HOME and CDBG dollarsRollingDeadline: Scope: Localstate

Updated: Dec 6, 2025

Summary

Columbia’s Homeownership Assistance Program offers $10,000–$20,000 in zero-interest, forgivable loan assistance to help first-time buyers cover down payment and closing costs on a home within city limits. The program targets low- to moderate-income households and pairs HUD income limits, purchase price caps, and property inspections with required homebuyer counseling.

Benefits

down payment assistanceclosing cost assistanceforgivable loan

Who Can Apply

homebuyerfirst-time homebuyerdisplaced homemakerlow- to moderate-income homebuyer

Eligible Locations

Owner occupied homes within the Columbia, Missouri city limits that meet program purchase price caps, property standards, and inspection requirements.

Eligibility

Low- to moderate-income first-time homebuyers (with some exceptions such as displaced homemakers) purchasing an eligible home within Columbia city limits, who meet HUD income limits, maximum purchase price caps, credit score and asset limits, and complete HUD-approved homebuyer counseling.

Full Description

The City of Columbia’s Housing Programs Division operates the Homeownership Assistance Program to make home purchase more affordable for low- to moderate-income households. The program description states that assistance of $10,000–$20,000 is available as a 0% interest, 10-year forgivable loan that can be used for down payment and allowable closing costs or to reduce the principal amount of the buyer’s first mortgage. Buyers must contribute at least $500 of their own funds toward the purchase. To qualify, applicants must be first-time homebuyers (with limited exceptions like displaced homemakers), meet HUD income limits, and purchase a home within the Columbia city limits that is below the program’s maximum purchase price thresholds. The property must pass a city inspection and may require lead-based paint assessment and remediation for older homes; a small grant helps offset lead remediation costs. The program also imposes credit and asset limits, including a minimum combined credit score and a cap on readily available resources unless excess funds are invested into the home. Buyers are required to complete homeownership counseling with a HUD-certified agency before assistance is finalized, and they sign a deed of trust, promissory note and borrower agreement committing to a 10-year occupancy period; if the home is sold or rented within that period, assistance is repaid on a prorated basis. An online Neighborly Software portal link on the page directs buyers and lenders to start the application process.

Verification & Details

Status: Open

Source: como.gov

Official source → como.gov

Apply on official siteUpdated Dec 6, 2025

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