Homebuyers with low to moderate income can get help with their down payment on a home with this program. The loan is a zero-interest second mortgage which will only be due when the home is sold, refinanced, transferred, or paid off. Purchase price limits also apply.

We are approved by the U. S. Department of Housing and Urban Development (HUD) to provide counseling, education and advice in housing issues to new and existing homeowners.

Recent college graduates who are able to qualify for a conventional mortgage may be able to use this program to purchase their first home with lower interest rates. Income and purchase price limits apply.

The HomeChoice program is specifically for homebuyers with disabilities or for homebuyers with disabled family members in the household. Loans are available for up to $12,000 depending on need, and may be used for the up-front costs of purchasing their new home. HomeChoice loans feature zero interest, no monthly payments, and deferment until the sale, transfer, or refinance of the home. Income and purchase price limits apply.

For certain homebuyers who have already qualified for a first mortgage, this program provides additional financing for vacant properties in pre-foreclosure or in an area which has been seriously affected by foreclosures. Income limits apply. Homes must not be in mortgageable condition at the time of HOP application.

MSHDA non-profit agencies who buy and fix abandoned or foreclosed properties can sell them to eligible borrowers who can use this program to secure 100 percent financing. The first mortgage will be for 80 percent of the purchase price, while a second mortgage will finance the 20 percent down payment required in lieu of mortgage insurance.

Down payment assistance is available to homebuyers who purchase an abandoned or foreclosed property. Help is given in the form of a zero-percent, gradually forgiveable second mortgage for up to $10,000 for properties which are intact, and up to $25,000 for homes in need of repairs.