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Homebuyers
Who 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 county.
- Your income does not exceed the program’s 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 education.
What does MHC have to offer me?
How do I get assistance?
- 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!
Where do 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 lenders.
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.