HB 2400 -- Linked Deposit Loan Program

Sponsor:  Cunningham

This bill changes the laws regarding the Linked Deposit Loan
Program by allowing an eligible homeowner purchasing a
single-family dwelling to receive a linked deposit loan for the
down payment on the home in an amount of up to 10% of the
purchase price of the home, not to exceed $10,000.

The State Treasurer is authorized up to an additional $25 million
to be utilized for these loans.  Any eligible lending institution
making a home loan cannot sell the loan and will receive a tax
credit on any interest earned.  The homeowner must repay the loan
within five years.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:13 pm