News from City Hall
City Communications Office
City of Kansas City, Mo.
FOR IMMEDIATE RELEASE: Aug. 23, 2013
New program helps homebuyers in the urban core
The City of Kansas City, Mo., announces a new program to help residents buy homes in the urban core and other target areas. Called MORE (for Missouri Reinvesting in Neighborhoods), the program is being carried out through a partnership with the Missouri Housing Development Commission and Kansas City Maintenance Reserve Corporation.
The MORE Program offers a 30-year fixed mortgage rate of 4.5* percent for qualified first-time and repeat homebuyers with low to moderate incomes. Homebuyers must purchase a home for sale in certain targeted areas by a non-profit community organization or a governmental agency.
Some first-time homebuyers may be able to combine the MORE Program with the department’s KC Dream Home program for additional mortgage assistance.
Household incomes for MORE Program applicants must not exceed the following:
One to two people $85,440
Three people $99,680
The sale price of the home must not exceed the following:
• One-family $305,800
• Two-family $391,486
Borrowers must be prequalified through an approved lender. Find lenders and other home buyer program information at www.kcmo.org/more.
*This mortgage rate is subject to change based on the market.