First-Time Home Buyer in St. Louis
A plain-English guide to buying your first home in the St. Louis area — what you actually need to qualify, the down-payment-assistance programs available here, and the local rules that catch first-timers off guard.
How much do you really need to put down?
You almost certainly need less than you think. Conventional loans go as low as 3% down, FHA loans 3.5%, and VA and USDA loans 0% for those who qualify. Putting less than 20% down adds private mortgage insurance (PMI) on a conventional loan, which drops off once you reach 20% equity. Want to see the trade-off in dollars? Run it in the down-payment calculator.
Down-payment assistance in Missouri
Missouri first-time buyers may qualify for help through the Missouri Housing Development Commission (MHDC), whose programs can pair a competitive loan with down-payment and closing-cost assistance. Eligibility depends on income, purchase price, and the program in effect when you apply — so the right move is to get pre-approved and ask which programs you fit. As a local broker, we can walk you through the current options.
What it takes to qualify
Lenders look at three things: your credit, your debt-to-income ratio, and your down payment plus reserves. You do not need perfect credit or a huge salary — you need a clear picture of your numbers. The fastest way to get that picture is a real pre-approval. Curious what your budget reaches across the metro first? Explore the affordability map.
Compare communities before you fall for one
Prices, property taxes, and even local occupancy-inspection rules change from one St. Louis suburb to the next. Our neighborhood guides lay out the real numbers for 26 communities so you can compare on facts, not guesswork.
Buying your first home in St. Louis?
Sean will walk you through the programs you qualify for, your down payment, and your real numbers — no pressure, no jargon.
