Mississippi First-Time Home Buyer Programs and Assistance
Mississippi Home Corporation (MHC) currently lists 6 programs for Mississippi buyers, with down payment help up to $10,000 through Trusty10. Figures below were read from the agency's own pages on September 11, 2026.
Mississippi first-time buyer programs open now
Mississippi Home Corporation (MHC) is the state's housing finance agency (homebuyer programs page). It runs 5 down payment or closing-cost assistance programs alongside 1 below-market first mortgage. Has not owned or had an interest in a principal residence in the last 3 years;
| Program | Type | Amount | First-time only | Min. credit | Income limit |
|---|---|---|---|---|---|
| Smart7 source | Second mortgage | $7,000 second mortgage at 0% interest | No | n/a | Household annual income cannot exceed $137,870 (statewide flat limit for this product) |
| Easy8 source | Second mortgage | $8,000 second mortgage at 0% interest | Yes | n/a | $81,100 to $137,340 depending on county, target-area status, and household size (2 or fewer / 3 or more) |
| Trusty10 source | Second mortgage | $10,000 second mortgage at 2% interest | Yes | n/a | $81,100 to $137,340 depending on county, target-area status, and household size (2 or fewer / 3 or more) |
| JustRate source | First mortgage | No down payment assistance; competitive-rate 30-year fixed first mortgage only | Yes | n/a | $81,100 to $137,340 depending on county, target-area status, and household size (2 or fewer / 3 or more) |
| Housing Assistance for Teachers (HAT) source | Grant (no repayment) | Grant funds up to $6,000 | Check | n/a | See program page |
| Home4All source | Program | Up to $25,000 in homebuyer assistance | Yes | n/a | Household income must be below 80% of area median income, adjusted for family size |
- Smart7. Terms: 0% interest, principal due upon property sale, refinance, non-owner-occupied status, or 1st mortgage loan payoff; paired with a 30-year fixed-rate first mortgage Purchase price limit: Purchase price cannot exceed $413,610 Must pair with: MHC Smart7 30-year fixed first mortgage Program page
- Easy8. Terms: 0% interest, principal due upon property sale, refinance, non-owner-occupied status, or loan maturity; paired with a 30-year fixed-rate first mortgage Purchase price limit: $316,373 (non-target areas) / $382,590 (target areas) Must pair with: MHC Easy8 30-year fixed first mortgage Program page
- Trusty10. Terms: 2% interest, principal and interest payable over 15 years; paired with a 30-year fixed-rate first mortgage Purchase price limit: $316,373 (non-target areas) / $382,590 (target areas) Must pair with: MHC Trusty10 30-year fixed first mortgage Program page
- JustRate. Terms: 30-year fixed-rate mortgage with a competitive rate, no second mortgage Purchase price limit: $316,373 (non-target areas) / $382,590 (target areas) Program page
- Housing Assistance for Teachers (HAT). Terms: Grant to assist with mortgages; funding availability announced for the 2026-2027 program year Where: Select areas of the state only (not statewide) Program page
- Home4All. Terms: Down payment assistance cannot exceed 50% of the purchase price; grant amount based on need, subject to an affordability period Purchase price limit: Purchase price limits vary by county (see MHC's Home4All acquisition limits page) Must pair with: FHA, VA, USDA Rural Development Direct/Guaranteed, or approved Fannie Mae/Freddie Mac 30-year conventional loan with PMI Homebuyer education: required Where: Must be in an eligible area (federal HOME-funded program; not confirmed to be fully statewide) Program page
City and county programs in Mississippi
Local governments run their own down payment funds on top of the state programs. These can be combined with a state loan in most cases; each has its own income limit and area.
- City of Jackson: City of Jackson Homebuyer Assistance Program. Down payment assistance sized to family need; exact dollar cap not published on the program page. Program. Income limit: Household income at or below 80% of area median income (AMI). Official page
How little you can put down
You do not need 20% down. Conventional loans go as low as 3% (through programs like Fannie Mae HomeReady and Freddie Mac Home Possible), FHA loans start at 3.5%, and VA and USDA loans can require nothing down. On Mississippi's median-priced home (about $265,200), 3% down is roughly $7,956. Putting 20% down lets you skip private mortgage insurance, but most first-time buyers put down far less.
Who counts as a first-time buyer
For most programs, a first-time buyer is anyone who has not owned a primary residence in the last three years, so many repeat buyers qualify again. Mississippi programs often add income and purchase-price limits, which is another reason to confirm the details with Mississippi Home Corporation.
Other ways to save in Mississippi
Buyer commission rebates are not available to most buyers in Mississippi, so beyond Mississippi Home Corporation assistance, your best levers are comparing lenders on rate and fees, shopping title and settlement services, and asking the seller for a closing-cost concession. See our Mississippi closing-costs guide for the full picture.
Frequently asked questions
What first-time home buyer programs are available in Mississippi?
Mississippi Home Corporation (MHC) lists 6 programs: Smart7, Easy8, Trusty10, JustRate, Housing Assistance for Teachers (HAT), Home4All. Down payment help runs up to $10,000. City of Jackson also run local down payment programs.
How much down payment assistance can you get in Mississippi?
Up to $10,000 through Trusty10 (second mortgage). Other Mississippi programs offer different amounts; see the table on this page for each one.
Do you have to be a first-time buyer to qualify in Mississippi?
Not for every program. 1 of 6 Mississippi programs are open to repeat buyers. Has not owned or had an interest in a principal residence in the last 3 years; waived in counties/areas marked as federally targeted (shown with an asterisk on MHC's income limits page) and for the Smart7 product, which has no first-time-homebuyer requirement
How much down payment do you need in Mississippi?
As little as 3% on a conventional loan, 3.5% on an FHA loan, and 0% on VA or USDA loans. On Mississippi's median-priced home (about $265,200), 3% is roughly $7,956. You do not need 20% down, though 20% lets you avoid mortgage insurance.
Who counts as a first-time home buyer?
For most programs, a first-time buyer is anyone who has not owned a primary residence in the last three years. Some Mississippi programs also have income and purchase-price limits, so check with Mississippi Home Corporation.
Can I combine assistance with a buyer rebate in Mississippi?
Mississippi does not permit buyer commission rebates, so first-time buyers here should focus on Mississippi Home Corporation assistance programs and negotiating the buyer's-agent commission instead.
Official sources
- Mississippi Home Corporation (MHC)
- Smart7, Mississippi Home Corporation
- Mississippi Home Corporation SF Income Limits page (MRB programs table); program terms from MHC Mortgage Products page
- Home4All, Mississippi Home Corporation
- City of Jackson Homebuyer Assistance Program
- Consumer Financial Protection Bureau: down payment options and how to prepare
Mississippi program details last verified against Mississippi Home Corporation on September 11, 2026.
Read the full guide to the cash you need to buy →
This is general information, not financial advice. Program details, limits, and loan terms change; confirm the current rules with Mississippi Home Corporation and your lender before you rely on them.
See first-time buyer programs in all states