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MHDC further postpones annual meeting, raises mortgage interest rates

  

JEFFERSON CITY, Mo. – The Missouri Housing Development Commission annual commission meeting scheduled for November 6 has been rescheduled for November 17. The meeting was originally scheduled for October 10.

They also announced that they would be raising mortgage interest rates for first-time homebuyers. As of November 1, 2017, rates for the First Place Program will increase. The Cash Assistance loan on the governmental level will be 4.5 percent and 4.95 percent for the conventional program. For the Non-Cash Assistance Loan, the government rate will be 3.75 percent and 4.2 percent for the conventional program.

PHOTO/THE MISSOURI TIMES – MICHAEL LAYER

At the previous annual commission meeting, Director of Finance Marilyn Lappin discussed the previous year’s financial report, the budget for the current fiscal year, and the operating fund budget variance report.

In September, the MHDC met to approve the Qualified Action plan with the stipulation that construction workers on new-low income housing would not be paid the federal prevailing wage. Request for Proposals were additionally amended so that they must notify the MHDC if they had been investigated by any state or federal agency in the past five years.

The MHDC is expected to hold a webinar for application training for the Missouri Housing Innovation Program (MoHIP) on November 7.

Their Annual Commission meeting on November 17 is scheduled for 9 a.m. at the Holiday Inn in Columbia.