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REALTORS® Lead the Way in Helping First Time Homebuyers in Missouri

May 25, 2018 in Missouri Advocacy

Buying a first home just got a little easier in Missouri
thanks to efforts by Missouri REALTORS®. The Missouri First-Time Homebuyers
Savings Account Act passed through the legislature in Jefferson City last week.

Missouri REALTORS® issued a Call for Action in late April to
all its REALTOR® members to support the First-Time Homebuyer Savings Account,
which will allow potential homeowners to set aside savings dedicated toward the
purchase of their first homes, similar to a 529 college savings plan. Up to
$20,000 could be put into the account by a married couple filing jointly to
assist first time homeowners with their down payments.

Missouri REALTORS® issued a Call for Action in late April to
all its REALTOR® members, and your grassroots support helped put this issue
over the finish line.

“Thank you to all who responded to the Calls for Action
and/or traveled up to Jefferson City to shed light on the importance of this
bill,” Missouri Lobbyists Sam Licklider and Adam Davis said in a statement. “It
wouldn’t have passed without you.”

After
final approval, work will begin with regulators and banks to implement
the program in early 2019.

For more information, visit missourifirsthome.com or read previous ResourceKC coverage of this Act’s journey through Missouri Congress.

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