Last week, the Missouri Housing and Development Commission announced a new program for first-time homebuyers.  This will allow the new home buyer to to take advantage of the federal first-time homebuyer tax credit.  Commission will provide the value of the tax credit at the time of closing to help with down payment and closing costs.  The new program provides the buyer with a short-term, advanced loan up to six percent of the home’s purchase price or a maximum of $6,750.  The homebuyer then files for the federal tax credit and uses it to pay back the Housing Development Commission for the loan and service fee.

The Housing Develpment Commission hopes this new program will start a positive ripple effect, starting the housing market on an upward climb. That is great news for the Branson Tri-Lakes area.