The Mississippi Home Corporation offers financial assistance to fund part of the down payment and closing costs through grants and forgivable loans. This assistance is available for first-time buyers, veterans, low-income borrowers and teachers in rural areas. There are some programs available for repeat buyers as well. Mortgage interest tax credits are also available.
To qualify, borrowers must meet minimum credit score requirements. The property must be a single-family home, town house, condominium or manufactured home situated in the State of Mississippi, which will be occupied by the borrower after closing of the transaction.