Mississippi Down Payment Assistance
Mississippi Down Payment Assistance Programs
A guide to current down payment assistance options in Mississippi, including the state Housing Finance Agency, well-known city and county programs, and live DPA mortgage pricing for Mississippi homebuyers.
Mississippi Housing Finance Agency
Mississippi Home Corporation (MHC)
MHC administers the primary DPA programs for Mississippi. Program details below are current as of April 23, 2026 - confirm current terms directly with MHC before applying.
Statewide DPA Programs in Mississippi
Smart Solution Second
Mississippi Home Corporation
Up to 3% of the purchase price as down payment and closing cost assistance, structured as a 10-year second mortgage with an interest rate equal to the first mortgage.
Paired with: Conventional, FHA, VA, RD
- Primary residence only
- Minimum FICO: 640
- Income: Household income up to $95,000.
- Homebuyer education required
Property must be located in Mississippi and used as the primary residence. Single-family, townhouse, condo, duplex, or FHA-eligible manufactured home.
Source: www.mshomecorp.com
Smart6
Mississippi Home Corporation
30-year fixed-rate first mortgage at a competitive rate with reduced mortgage-insurance pricing. Can be paired with Smart Solution DPA.
Paired with: Conventional, FHA, VA, RD
- Primary residence only
- Income: Household income up to $110,000.
- Homebuyer education required
Available to first-time and repeat homebuyers. Single-family, condo, townhome, or duplex.
Source: www.mshomecorp.com
Mortgage Credit Certificate (MCC)
Mississippi Home Corporation
Federal income tax credit equal to a portion of annual mortgage interest paid, which can increase qualifying income.
- First-time homebuyer: Required
- Primary residence only
- Homebuyer education required
First-time homebuyer requirement is waived for qualified veterans and in targeted areas. Household income and purchase price limits apply.
Source: www.mshomecorp.com
2026 Loan Limits in Mississippi
Conforming (Conventional)
$806,500 baseline
FHA
$524,225 floor
Most Mississippi counties use the FHA floor limit.
Live DPA Pricing for Mississippi
Pricing below is sourced live from hundreds of wholesale lenders for a Mississippi scenario. Edit the inputs to match your situation.
FHA Down Payment Assistance
Up to 5% assistance; repayable second at first rate + 2% over 10 years
▸Program details
- ✓Minimum credit score: 580
- ✓Non-traditional credit also possible
- ✓Assistance up to 2.5%, 3.5%, or 5% of the lesser of purchase price or appraised value
- ✓Assistance can be used for down payment, closing costs, or both
- ✓Second lien: 10-year fixed, repayable
- ✓Second lien rate is 2% higher than the first mortgage rate
- ✓No first-time homebuyer requirement
- ✓No income cap
- ✓Purchase of primary residence only
- ✓Eligible properties: 1-unit residences, PUD, 2-4 units, FHA-approved condos, manufactured (single/double-wide)
- ✓DTI per AUS and FHA manual underwriting guidelines
- ✓First lien: FHA 30-year fixed
Assistance amount
Compare DPA options for Mississippi with live pricing
Rate Direct pairs down payment assistance with live first-lien pricing so you see the combined monthly payment up front.