Buying a home costs a lot of money upfront, and the Mississippi Home Corporation offers financial help with a down payment and closing costs in order to give first-time home buyers a boost.

The Mississippi Home Corporation defines a first-time home buyer as someone who has not owned a home in the past three years, although exceptions are sometimes made for veterans and people buying in federally designated target areas where incomes are typically low.

Buyers may also take advantage of national loan programs with low credit score or down payment requirements. Explore all the options for buying your first home in the Magnolia State.

National first-time home buyer programs

These loan programs are available in all states. They allow qualified home buyers to purchase homes with a small down payment — or even with no down payment at all. Loans that require lower down payments are important to many first-time buyers.

Mississippi first-time home buyer programs

Mississippi Home Corporation helps home buyers with down payments and closing costs. The programs target first-time buyers as well as veterans, residents of low-income areas and rural teachers.

MHC highlights and eligibility requirements


  • Available to first-time home buyers.
  • Some programs are available for repeat buyers.
  • Assistance is in the form of grants and forgivable loans.
  • Mortgage interest tax credit is available.


  • Home must be in Mississippi and owner-occupied.
  • Borrower must meet minimum credit score requirements, which vary by loan program and down payment percentage.
  • Property must be a single-family home, town house, condominium or qualified manufactured home.
  • Home buyer course required for all programs.
  • Other program-specific requirements may apply.

» MORE: Tips for first-time home buyers

Your next step

Visit Mississippi Home Corporation’s homeownership programs page for information on how to get started and find out which program is right for you. MHC doesn’t lend money or take loan applications itself. To apply, follow the link to the program you’re interested in; you should see another link to a list of participating lenders.

» MORE: Best low-down-payment mortgage lenders

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