Mississippi Mortgage Rates
April 30, 2017 04:58 AM Eastern
Getting a Great Deal on Mississippi Mortgage Rates
If you've fallen in love with the warm summers and mild winters of the beautiful state of Mississippi, you're in luck. The state offers many homebuyer programs that can help you find a permanent living situation there, and current Mississippi mortgage rates are at an all-time low. Almost three million people already call the Magnolia State home, and you can too.
Each year, the federal government makes money available to Mississippi residents for down payment assistance grants which are offered through non-profit state partners and participating lenders. Grants can be used to buy abandoned and foreclosed properties, which helps to stabilize neighborhoods, particularly those in the process of re-growth after being devastated by Hurricane Katrina. Coupled with low MS mortgage interest rates, these grants can be a great help to homebuyers in the state.
Current MS Mortgage Rates and Home Buying Assistance Grants
Current MS mortgage rates are low, and a lot of assistance is available for people who want to purchase houses. Whether you want to live in the capital city of Jackson or you're looking for something down on the Gulf Coast, Mississippi has something for everyone.
Qualifying borrowers can secure a great Mississippi mortgage interest rate, and up to a maximum amount in home buying assistance from the Mississippi Home Corporation. The loan does not have to be repaid if you live in your home for a specified amount of time. For information on current limits and MS interest rates, please visit: http://www.mshc.com/hba/.
Learning about MS Mortgage Rates and Terms: Homebuyer Education Classes
Mississippi offers four-session home buyer education classes for all residents—regardless of credit history, income level or occupation—who are interested in investing in a home.
The purpose of this program is to help homebuyers in the state learn about the best current MS mortgage rates, how to shop for a lender, and how to apply for a loan. The courses focus on budgeting, preparing for homeownership and the home shopping process. Run by MHC-funded counseling agencies, courses are available statewide and can give buyers a great advantage, particularly when shopping for low MS mortgage interest rates.
The HAT Program and Mississippi Mortgage Rates for Educators
Mississippi's HAT (Housing Assistance for Teachers) program has been designed to attract qualified educators to rural areas of the state by offering them financial incentives to purchase a home.
Qualified participants can receive a limited amount of funds to assist with closing costs and mortgage insurance, which can be converted into an interest free grant if the participant agrees to employment term of at least three years. Other incentives include low down payment rates and assistance with finding low MI mortgage interest rates.