Every Mississippi Down Payment Assistance Program
Program and regulatory figures verified October 6, 2026. Details change; confirm your scenario with us.
Five programs, and each one is the right answer for a different buyer. Sorting them by dollar amount is how people end up on the wrong one.
The full Mississippi list
Every figure below comes from MHC's own program pages, verified 2026-10-06.
| Program | Amount | Structure | Monthly payment | Best for |
|---|---|---|---|---|
| Smart7 | $7,000 | 0% second, deferred | None | Previous owners; income over the county limit; the default |
| Easy8 | $8,000 | 0% second, deferred | None | Comfortably under the county limit |
| Trusty10 | $10,000 | 2% interest rate, 15-year | Yes | A real cash gap at closing |
| Trusty10 Plus 2 | $12,000 | Trusty10 + $2,000 | Yes | Larger cash gap; agent-represented; funding confirmed |
| JustRate | None | Lowest MRB rate | None | Down payment already covered |
| HAT | Up to $6,000 | Forgivable grant | None | Teachers in critical-shortage districts |
Which should I look at first?
Three questions get almost everyone to the right program.
Do you teach in a critical-shortage district? Start with HAT. It is the only forgivable money in Mississippi, it has no income limit of its own, and it can pair with an MHC product. Check your district.
Is your down payment already covered? Look at JustRate. A lower rate beats assistance you were not going to spend.
Everyone else: start at Smart7 and only move off it for a reason. The comparison that explains why.
What do all the MHC products share?
More than people expect:
- 30-year fixed first mortgages, on FHA, VA, Rural Development, Fannie Mae or Freddie Mac financing. HAT allows 25-year as well.
- No liquid asset limit on any of the four MHC products.
- Owner-occupancy. The home has to be your primary residence.
- Homebuyer education on every MHC product, with proof of completion before the file proceeds.
- An approved MHC participating lender. Only one can take your application.
What is not on this list?
MHC also runs a development and rental side, including Housing Tax Credit and federal HOME programs. Those fund apartment construction and rental compliance, not homebuyers, so they are not down payment assistance and they are not something we deliver.
If a page offers you "MHC assistance" that turns out to be a tax credit allocation to a developer, you are reading about a different part of the agency.
Can programs be combined?
The four MHC products are alternatives, since each one includes its own first mortgage. HAT is the exception: MHC allows it alongside JustRate, Smart7, Easy8 or Trusty10.
The cost of pairing is specific. HAT alone has no income limit. Paired, the MHC product's limit applies to the file. For a teacher earning above their county figure, that single rule is the difference between HAT-plus-Smart7 and HAT-plus-Easy8. The pairing table.
Frequently asked questions
How many down payment assistance programs does Mississippi have?
Five relevant to homebuyers: four Mississippi Home Corporation mortgage products, being Smart7 at $7,000, Easy8 at $8,000, Trusty10 at $10,000 or $12,000 with Plus 2, and JustRate which trades assistance for a lower rate, plus Housing Assistance for Teachers, a forgivable grant of up to $6,000 funded by the Mississippi Department of Education. Verified against MHC 2026-10-06.Which Mississippi down payment assistance program is a grant?
Only Housing Assistance for Teachers. It provides up to $6,000 of Mississippi Department of Education money that is forgiven once the licensed teacher completes three years in a district designated critical-shortage. The four MHC products are all mortgages: Smart7 and Easy8 are 0% deferred seconds and Trusty10 amortises at a 2% rate over fifteen years. Verified against MHC 2026-10-06.Can I combine Mississippi down payment assistance programs?
The four MHC mortgage products are alternatives, because each includes its own first mortgage. Housing Assistance for Teachers can be combined with JustRate, Smart7, Easy8 or Trusty10. Doing so imports that product's income limit onto the file, where HAT on its own carries no income limit. Verified against MHC 2026-10-06.Who can originate MHC loans in Mississippi?
Only an approved MHC participating lender can pre-qualify you or take an application for an MHC product. MHC maintains the list of participating lenders. Cornerstone First Mortgage originates in Mississippi, and Mike Certo, NMLS #260555, can be reached at (480) 296-6513.Mike Certo · NMLS #260555 · Cornerstone First Mortgage NMLS #173855 · Equal Housing Lender. Educational content about financing, not a loan commitment and not tax or legal guidance. MHC program terms, income limits and purchase price limits are set by the Mississippi Home Corporation and change; figures here carry the date we verified them against MHC's published pages and its Homebuyer Guide. Smart7 and Easy8 are 0% second mortgages with no monthly payment, deferred until sale, refinance, loss of owner-occupancy or payoff of the first mortgage. Trusty10 is a 15-year second at a 2% rate set by MHC and does carry a monthly payment. Housing Assistance for Teachers is Mississippi Department of Education grant money forgiven on completion of three years' service in a district the Department designates as critical-shortage. Loans are subject to borrower and property qualification.