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Missouri Linked Deposit Program for Multi-Family Housing
The Missouri Linked Deposit Program partners with lending institutions to provide
low-interest-rate loans to help create and retain Missouri jobs, expand the economy
and strengthen communities statewide.
IMPORTANT NOTICE
Effective April 21, 2011, Treasurer Clint Zweifel
has adopted the HELP system – the Harmed-area Emergency Loan Priority system – to expedite
Missouri Linked Deposit Program loan approvals. Borrowers in counties determined to have been
impacted by disasters will receive 24-hour approval of completed applications.
Visit the
HELP system page to learn more.
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The Missouri Linked Deposit Program for Multi-Family Housing provides low-interest-rate loans to help positively impact neighborhoods by improving existing multi-family housing units or developing affordable housing in areas where it is needed.
NOTICE for lenders and borrowers – as of April 18, 2011, funding for this program is severely limited. Please contact us at (573) 751-2372 to check available funds.
Eligibility
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An eligible residential property owner is a person, firm or corporation that purchases and develops or rehabilitates a multi-family residential structure. Projects with two or more units will qualify as multi-family residential structures. Deposit funds may be used in connection with loans for the purchase and rehabilitation, construction, renovation and land development of multi-family residential structures.
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An eligible residential property developer is an individual who purchases and develops a residential structure of either two or four units. The individual must agree to continue to use, for at least the next five years, one of the units as his principle residence. If not, the developer's principle residence must be located within one-half mile of the developed structure and he/she must agree to maintain the principle residence within one-half mile of the developed structure for at least the next five years.
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Projects eligible for funding are apartment building renovations, housing for the homeless and other affordable housing initiatives.
Additional Resources
Businesses looking for additional funding should also visit the Missouri Housing Development Commission.
The Commission is dedicated to strengthening communities and the lives of Missourians through the
financing, development and preservation of affordable housing.
Download a Multi-Family Housing Loan Application to be completed with your lender.
Multi-Family Housing Loan Application
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