Are you a first-time homebuyer in Mississippi? This comprehensive guide is your invaluable resource, offering specialized assistance programs and valuable information exclusively tailored for residents of the Magnolia State. Explore a variety of programs, including down payment assistance and favorable mortgage options, designed to make homeownership more attainable. Navigate the dynamic real estate market of Mississippi with confidence and uncover the unique opportunities that await you in the historic towns, scenic landscapes, and close-knit communities.
State-Wide Programs
Program | Assistance Offered | Who Should Apply | Assistance Type |
---|---|---|---|
Housing Assistance for Teachers (HAT) | Up to $6,000 in down payment assistance and closing costs | For teachers buying and working within a critical shortage area | Grant |
MHC Mortgage Credit Certificate | Reduces up to $2,000 in mortgage interest that you pay into federal taxes for the life of your loan | First time homebuyers that can meet income requirements | Tax credit |
MHC Smart Solution | Up to 3.5% of home purchase price that can be used for down payment assistance | Any homebuyers that can meet income requirements | Second mortgage |
Mortgage Revenue Bond 7 (MRB7) | Up to $7,000 in down payment assistance and closing costs | For first time homebuyers that can meet income requirements | Second mortgage at 0% interest |
City Programs
City | Program | Assistance Offered | Who Should Apply | Assistance Type |
---|---|---|---|---|
Jackson | Homebuyer Assistance Program | Up to $15,000 in down payment assistance | First time homebuyers buying within the city limits of Jackson and can meet income requirements | Forgivable second mortgage |
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