is no question that the need for affordable housing in Mississippi is
tremendous. The state of Mississippi is constantly working to increase
the quality and affordability of the housing stock available to low and
moderate income Mississippians. The Mississippi Home Corporation (MHC)
was created by the Mississippi Home Corporation act of 1989 to address
these housing needs. MHC plays a critical role in these efforts working
with the Governor, the Mississippi Legislature, the U.S. Congressional
delegation, and others in the affordable housing industry to develop private
and public partnerships throughout the state and nation to increase the
awareness of Mississippi’s desperate need for affordable housing.
mission is to enhance Mississippi 's long-term economic viability by financing safe, decent, affordable housing and helping working families build wealth. In keeping with its mission, MHC has developed
the following programs:
Revenue Bond Program
FHA, VA, Rural Development & Conventional Insured affordable housing
loan program offering the borrower 3% down payment assistance, and an
interest rate at or below the current market rate.
Credit Certificate Program
Provides for a reduction in the amount of Federal Income Tax to be paid
by a borrower. Therefore, improving the borrower's qualifying ratios.
Payment Assistance Program
Used in conjunction with any FHA mortgage loan to assist the borrower
by providing 3% downpayment (second mortgage) funds available to purchase
Loan Purchase Program
Provides a funding source for Mississippi-based affiliates of Habitat
for Humanity. MHC purchases loans at a 0 % interest rate and at full face
value of the remaining principal balance.
Home of Your Own (HOYO) Project
The goal of the project is to assist persons with disabilities and their
families in locating counseling, supports, and financial assistance which
may allow them to purchase and maintain their own homes.
Assistance for Teachers (HAT)
Provides up to $6000 in downpayment assistance for Mississisppi teachers
towards the purchase of a home in select areas of the state.
Find out what you can afford with our built-in calculators.
Tax Credit Program
A federal income tax credit incentive available to owners of residential
rental properties that are rented to low to moderate income tenants at
below market rents.
Affordable Housing Development Fund
Established by the State of Mississippi, a revolving loan fund providing
development, construction and rehabilitation loans for the creation and
improvement of affordable housing.
Construction Loan Fund
was established by the State of Mississippi in collaboration with Fannie
Mae (FNMA), the Mississippi Development Authority (MDA), and the Mississippi
Home Corporation (MHC), to provide financing for the construction of low-to-moderate
income Single-Family Eligible Residential Housing Units within the state
Housing Development Organizations (CHDOs)
Utilize HOME funds to provide technical assistance to CHDOs or potential
CHDOs that have, or intend to retain staff with the capacity to develop
affordable housing for the community it serves.
Buyer Education Program
Home Buyer Education is available to anyone interested in buying a home,
regardless of income or credit history.