Smart Solution Second Program
Smart Solution Second Program This Mississippi down payment program is for low and moderate income first time home buyers can get Mississippi down payment help for their first mortgages (FHA, VA or RD Mississippi borrowers only) via a second mortgage:10 year, fixed rate at 7 percent with no prepayment penalty. The maximum Mississippi down payment assistance is 3 percent of the loan amount, and the money can be used for Mississippi down payment and closing costs but no pre paid fees. To be eligible, income cannot exceed county limits, and Mississippi borrowers must meet credit requirements. Mississippi borrowers cannot have more than $4,500 in liquid assets.