Mississippi First-Time Home Buyer Programs 2026
Mississippi Home Corporation runs six homebuyer programs, more than most state housing agencies offer. They range from a $7,000 second mortgage at zero interest to a $25,000 grant that never has to be repaid. This guide covers what each one pays, the income and purchase price limits that apply, and how to work out which one fits your situation.
Smart7, Easy8 and Trusty10
Mississippi Home Corporation’s three core products all pair a 30-year fixed first mortgage with a second mortgage for down payment and closing costs. The difference is how much, and whether you ever pay it back with interest.
| Program | Second Mortgage | Interest | Repayment |
|---|---|---|---|
| Smart7 | $7,000 | 0% | Principal due at sale, loan payoff or maturity |
| Easy8 | $8,000 | 0% | Due at sale, refinance, non-owner-occupancy or maturity |
| Trusty10 | $10,000 | 2% | Principal and interest repaid over 15 years |
Smart7 does not require you to be a first-time buyer. If you have owned before and are buying again in Mississippi, this is usually the program to ask about first.
Home4All — Up to $25,000
Home4All is the largest assistance available in Mississippi and it is structured as a grant rather than a loan, so there is no interest and no repayment schedule.
| Feature | Home4All |
|---|---|
| Maximum assistance | Up to $25,000 |
| Structure | Grant — no interest, no repayment, subject to an affordability period |
| Amount awarded | Based on demonstrated need; cannot exceed 50% of the purchase price |
| Income limit | Below 80% of area median income, adjusted for family size |
| First-time buyer | Required — no ownership of a principal residence in the past three years |
| Eligible first mortgages | FHA, VA, USDA Direct or Guaranteed, approved Fannie Mae or Freddie Mac conventional with PMI |
| Education | Required through a HUD-approved housing counselor |
Eligible property types include site-built single-family homes, condos, townhomes and manufactured homes that meet local housing quality standards and Section 8 Housing Quality Standards. Full terms at Mississippi Home Corporation.
JustRate and Teacher Assistance
Two more MHC products cover buyers who fall outside the standard assistance path.
| Program | What it offers | Who it is for |
|---|---|---|
| JustRate | 30-year fixed rate, no assistance attached | Buyers who have their own down payment but want an MHC rate |
| Housing Assistance for Teachers (HAT) | Grant up to $6,000 | Mississippi public school educators in designated regions |
HAT is region-specific. Confirm whether the district you teach in is designated before counting on it, and ask whether it can be layered with another MHC product.
Income and Purchase Price Limits
MHC applies two different limit structures depending on which product you use, and they are not interchangeable.
| Program | Income Limit | Purchase Price Limit |
|---|---|---|
| Smart7 | $137,870 | $413,610 |
| Easy8, Trusty10, JustRate | MRB limits by county and family size | $382,590 target areas · $316,373 non-target |
| Home4All | Below 80% of area median income | Varies by county |
MRB income limits run from $81,100 to $117,720 for one- and two-person households, and from $93,265 to $137,340 for three or more, depending on county and whether the area is designated target or non-target. Counties marked NT/T are split, so the specific address governs. Check your county on MHC’s income limits page.
MHC Eligibility Checklist
Which conditions apply depends on the product. The three that catch buyers out most often are the first-time requirement, the target-area split and the education requirement.
- First-time buyer status — Required for Home4All, meaning no ownership of a principal residence in the past three years. Not required for Smart7, and not required in target areas for several other products.
- Income — Home4All caps at 80% of area median. Smart7 allows up to $137,870, which is far more generous.
- Purchase price — $413,610 under Smart7, $382,590 or $316,373 under the others depending on target status.
- Citizenship — Home4All requires U.S. citizenship.
- Credit — MHC does not publish a program-wide minimum score; credit requirements follow the participating lender’s guidelines.
- Homebuyer education — Required for Home4All through a HUD-approved housing counselor.
- Occupancy — The home must be your primary residence.
Step by Step
- Work out which program fits — If you have owned a home before, start with Smart7. If your household income is below 80% of area median, price out Home4All first, because $25,000 dwarfs the other options.
- Check your county’s limits — MRB income limits and target-area status both vary by county, and a split county turns on the specific address.
- Find a participating lender — MHC works through a lender network, and each lender offers different first mortgage products. Ask specifically which MHC programs they originate.
- Complete homebuyer education — Required for Home4All, through a HUD-approved counselor. Start it early; it is a common source of closing delays.
- Get pre-approved on the first mortgage — The assistance layers on top of an FHA, VA, USDA or approved conventional loan, so the first mortgage has to stand on its own.
- Apply for the assistance through your lender — You do not apply to MHC directly; the lender submits it.
- Close and stay — Home4All carries an affordability period, and the Smart7 and Easy8 seconds come due if you sell, refinance or stop occupying the home.
