SLDC: HomeSTL program

St. Louis’s Development Corporation has relaunched the HomeSTL program, offering first‑time homebuyers a forgivable, no‑interest loan of up to $50,000 for eligible single‑family homes within the city.

The St. Louis Development Corporation’s HomeSTL program provides up to $50,000 for homebuyers “in the form of a no-interest, forgivable loan” for residences within city limits. Through $1 million in funds from the American Rescue Plan Act (ARPA), successful applicants have the potential for 10 years of no monthly payments, with 0% interest. To be qualified to receive the money, individuals must meet the following criteria:

• Live in the single-family home that they own

• Cannot have owned or co-owned a residence in the last three years

• Household cannot exceed the 80% area median income

• Must meet credit, income requirements

• Have to complete a homebuyer education course

• Obtain loans through an SLDC-approved mortgage lender

• Must live in City of St. Louis to receive $40,000; must live within certain areas of the city to qualify for $50,000

Those impacted by the May 16, 2025, tornado are encouraged to apply to the program. HomeSTL was reintroduced after being paused in 2024 due to popular demand.

For more information regarding the homebuyer assistance program, click here.

• What income requirements qualify for HomeSTL funding?

• How does HomeSTL address St. Louis housing affordability?

• What percentage of U.S. homes are mortgage-free?

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