Down payment assistance in Mississippi
Mississippi's primary statewide down payment assistance program, run by Mississippi Home Corporation. Numbers and eligibility reflect the program's published 2025 guidelines.
Smart6 (Smart Solution)
Second mortgage- Maximum assistance
- Up to $6,000 as a 10-year second lien
- Income limit
- No income limit on Smart6
- Home price limit
- Up to $375,000
- First-time buyer
- Not required
- Eligible loan types
- FHA, VA, USDA, Conventional
- •Smart6 second lien is at the same rate as the first, amortized over 10 years.
- •MHC also offers an MCC tax credit that can be paired.
How Mississippi DPA fits into your purchase
Down payment assistance reduces the cash you need at the closing table. Mississippi's Smart6 (Smart Solution) pairs with the standard FHA, VA, USDA, or conventional first mortgage from a participating lender; the DPA flows through the same closing.
Two things to budget for: most state DPA requires a homebuyer-education course (typically online, 6-8 hours, ~$75) and you usually have to use a lender on the agency's approved list. The agency keeps the list public on its website.
Common questions
Mississippi's primary statewide DPA is Smart6 (Smart Solution) from Mississippi Home Corporation. Up to $6,000 as a 10-year second lien. Many Mississippi cities and counties also run additional DPA layered on top.
No. The Smart6 (Smart Solution) is open to both first-time and repeat buyers, subject to income and home-price limits.
Yes. Smart6 (Smart Solution) works with these loan types: FHA, VA, USDA, Conventional. The DPA is layered behind your first mortgage as a separate lien (or grant), and both close together.
Yes. A second-mortgage DPA has a monthly payment, and that payment is included in your debt-to-income ratio when the lender qualifies you.
Deferred and second-mortgage DPAs are generally repaid in full when you sell, refinance, or pay off the first mortgage.