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Did you know the Missouri state legislature is considering the Missouri First-Time Homebuyer Initiative – a new idea to help prospective homebuyers start saving for their first home?

If adopted, the Missouri First-Time Homebuyer Initiative would function as a dedicated, tax-free savings account program that would allow Missourians to:

  • Deposit up to $16,000 ($32,000 for couples) of after-tax dollars annually.
  • Parents and grandparents can set up an account for their children or grandchildren and even contribute money to the account.
  • Receive a state income tax deduction on the principal investment up to 50% of the maximum deposit.

Tell your legislator to support the Missouri First-Time Homebuyer Initiative to help the next generation of Missourians save for their first home. It’s a new idea to encourage personal saving so that prospective homebuyers can overcome the financial barriers to owning a home.

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Be An Informed Homeowner

Learn more about the Coronavirus Aid, Relief, & Economic Security Act, which includes several programs designed specifically for homeowners who may need help paying their mortgage or other bills.

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