COLUMBIA, Mo. - Columbia city officials announced on Tuesday that a new partnership will provide down payment assistance and free financial education to help low and moderate income residents buy homes.
Columbia Community Land Trust, City of Columbia Community Development Department and Veterans United Homes Loans formed the partnership.
"This partnership will expand the CCLT and the city's capacity to increase access to homeownership for families that would not otherwise have that opportunity," CCLT Board President Jerry Dowell said.
City officials have previously provided homebuyer education and down payment assistance totaling nearly $5 million to more than 1,500 households over the past 10 years.
The program is federally funded.
To qualify participants must have an income that is 80% below the median income level, meet the minimum credit score requirements and satisfy underwriting requirements.
Fore more Homeownership Assistance Program requirements, click here.