Mississipi Home Corporation
30 year fixed rate mortgage with a $7,000 10-year deferred second mortgage. Available on single family home for 1st time homebuyers. Program can be used with Conventional and Government loan options.
30 year fixed rate mortgage with competitive interest rates and an additional add-on down payment assistance option of 3.5% of sales prices as a second mortgage at 0% Principal Payments paid monthly with 1st mortgage. Available on Single Family and Multi Family homes. 1st time homebuyer requirement is NOT required. Program can be used with Conventional and Government loans.
MCC operates as a federal income tax credit. MCC reduces the federal income taxes of eligible homebuyers purchasing qualified residences, thereby making more funds available for the house payments. Mortgage Tax Credit equal to 40% of the annual interest paid on the mortgage loan, therefore reducing the borrower’s federal tax liability. Available on single family homes for 1st time homebuyers. Program can be used with Conventional and Government loan options.