can qualify for MHC assistance?
- You've never owned a home,
or have not owned a home in the past three (3) years.
- You currently own
a home, but want to buy a home, for your primary residence, in a targeted
- Your income does
not exceed the programís income limits.
- The home you want to build
or buy falls within MHC's purchase price limits.
- You are a teacher
who agrees to teach in a critical shortage school district for at least
3 years, and participate in pre- and post-purchase delinquency counseling.
- You must be able
to credit qualify with a participating
lender. If you can't qualify right now, you can get help through
credit counseling and/or homebuyer
does MHC have to offer me?
How do I
- Contact one of
Mississippi Home Corporation's Participating
Lenders to get pre-qualified for your loan. Getting pre-qualified
is the first step in the loan process and tell you the maximum amount
the Lender will loan you for your home purchase.
- Contact your seller/real
estate professional, and let them know your pre-qualification status.
This will then allow your seller/real estate professional to obtain
a sales contract for you, which your Lender must have, before MHC can
reserve money for your loan.
- Return to your Lender, and
complete the loan process. This will include the Lender reviewing your
complete credit history, verifying your income and other necessary items.
Your Lender will then contact MHC for you and reserve money.
- Loan closes then, move into
your new home!
I go from here?
Now you have the
information you need to get your homebuying process going! Take the
first step, and pay a visit to one of MHC's participating
Please don't make
the mistake of trying to judge your credit yourself (it ay not be as
bad as you think), and don't be discouraged if you are turned down for
your loan the first time you apply.
MHC works with a
network of nonprofit
housing partners that are both qualified and eager to assist you.
These nonprofits specialize in helping people with credit problems,
and this service is often free of charge.