There's good news for Missourians looking to purchase their first home.
Missouri has signed into law a new first-time homebuyer savings account program supporting first-time homebuyers. With the Missouri First-Time Homebuyer Savings Account, you're one step closer to owning your first home!
Who?
Missourians who have never owned a home of any kind, or as a result of the individual’s dissolution of marriage, has not been listed on a property title for at least three consecutive years.
What?
A savings account that can be used towards the down payment of your first home in Missouri. Annual contributions can be up to $3200 for married couples filing a joint return and $1600 for all other filers. Tax deductions are capped at up to $1600 for married couples and $800 for all other filers.
When?
You can open a Missouri First-Time Homebuyer Savings Account TODAY and start saving NOW!
Where?
The account can be opened right here at FMB for the purchase of a first home in Missouri.
How?
Speak to one of our Real Estate Lenders to help you understand all of the benefits associated with homeownership - and to help ensure you’re getting the most out of the Missouri First-Time Homebuyers Savings Account program.
A Personal Banker will help you open the account.
Why?
When you are ready to buy a home, you will have a good start toward the savings you need. Plus, you’ll have made a great investment in yourself and your community, putting you on the path to financial independence.