Unlocking dreams

SLDC’s HomeSTL program paves the way to homeownership

Unlocking dreams

Do you dream of owning a home but wonder how you’ll ever save enough? The St. Louis Development Corporation (SLDC) has introduced a groundbreaking home ownership program called HomeSTL. It’s fueled by $3.8 million in funding from the American Rescue Plan.

HomeSTL is a First-Time Home Buyer Assistance Program designed to provide eligible homebuyers with financial support, potentially up to $50,000.

The HomeSTL program is a forgivable 5-year loan with a 0% interest rate, helping homeowners navigate the first crucial years of homeownership. The base loan size is set at $40,000, and for those purchasing homes in 2023 HUD Qualified Census Tracts (QCTs), an additional $10,000 may be granted, expanding the potential benefit.

The applicant’s income limit must be less than 80% of the Area Median Income (AMI) for the City of St. Louis. Income levels play a pivotal role in determining the amount of assistance, making this program an inclusive opportunity for a diverse range of aspiring homeowners.

The program operates on a first-come, first-served basis, with availability extended until funds are exhausted or until December 31, 2024.

For more information and to begin your journey to homeownership, visit developstlouis.org/HomeSTL. Your dream home may be closer than you think.

Frequently asked questions

What is ARPA?

The American Rescue Plan Act (ARPA) is a $1.9 trillion federal aid package passed by Congress in March, 2021 to provide financial aid to families, governments, businesses, schools, nonprofits and others impacted by the pandemic.

How much funding is there for the City of St. Louis?

The City of Saint Louis was awarded $498 million in recovery funds from the American Rescue Plan Act. These funds represent a lifeline for thousands of families in our city who have been deeply impacted by the pandemic and resulting economic crisis. You can see how ARPA dollars are being distributed on the ARPA Funding Tracker.

How do I get ARPA funds for myself or my family?

Visit our American Rescue Plan Resource Guide. This is a one-stop shop where you’ll find all the programs currently available to you and your family. It includes instructions on how to apply.

How do I get ARPA funds for my business or non-profit?

Learn how to receive ARPA funding to power up your business or non-profit on our For My Business page.

Who has benefitted from ARPA so far?

Tens of thousands of families have benefitted from programs including direct cash payments, job training, health resources and free transportation. Explore available programs for you and your family.

When do ARPA funds expire?

All funds must be obligated by the end of 2024 and spent by the end of 2026.

Where can I find an example RFP?

Here is a list of our current and past RFPs.