Mississipi Home Corporation
NOLA Lending offers a variety of programs with competitive interest rates and down payment/closing cost assistance to first-time homebuyers1 or low-to-moderate income homebuyers2 for properties located in Mississippi.
$7,000 deferred 10-year second mortgage with 0% interest is applied to the borrower’s portion of allowable closing costs. Ask your lender for details.
The Housing Assistance for Teachers Program (HAT) was designed to assist with funding to help teachers buy homes. Forgivable grant assistance if requirements are satisfied. Applicants who agree to render service as a teacher in the district for three years starting with the beginning of the school year.
The Smart6 program offers assistance in the amount of $6,000 for down payment or closing costs. Repayment will be required at sale, refinance, non-owner occupied, or 1st mortgage paid in full.
1. Individual program requirements vary. First Time Homebuyer generally means that the borrower has not had an ownership interest (sole or joint) in a residential property during the 3 year period prior to application. 2. Income varies per county, family and target area. Homeowner education may be required via an approved HUD counselor/vendor to qualify for specific programs, additional fees may apply.
HELP Grant Program
NEW! HELP Grant Program
The purpose of the Homebuyer Equity Leverage Partnership (HELP) Program is to provide down payment and closing cost assistance for qualified, first-time homebuyers.
Some Requirements Include:
- Must be a first-time homebuyer
- Household income must not exceed 80% of the area median income (AMI)
- Must contribute at least $500
- Homebuyer may not receive cash back at closing
- Must complete Homebuyer Counseling Course
For more requirements or to see if you qualify contact your NOLA Lending Loan Officer today.
The HELP Grant is offered by Federal Home Loan Bank of Dallas (FHLB) to assist low-income, first-time homebuyers in Louisiana, Arkansas, Mississippi, New Mexico and Texas with down payment and closing cost assistance. Eligible borrowers can receive up to $11,000.00 in assistance on a first-come, first-served basis. HELP funds are available until the funds are exhausted or until December 31st, whichever comes first; new rounds of funds open every January. Available funds as of June 24, 2022 is $772,786.00. For greater utilization, FHLB allows Help Grant funds to be combined with LHC products.