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Mississippi Home Corporation Releases
its Fifth Bond Issue of the Year

Since the release of Mississippi Home Corporation’s fifth bond issue, 2007E, on August 28, over $15.5 million of the total $65 million available funds has been used. Mississippi homebuyers have already used $300 million in bond funds during 2007, a 24% increase over the first eight months of 2006.

These funds are available to qualified applicants through participating lenders under MHC’s Mortgage Revenue Bond Program. This MRB issue offers 30-year mortgages at a fixed rate of 6.62% statewide The interest rate is 6.47% for families purchasing homes in Jackson, Harrison, Hancock, Pearl River, Stone, and George counties, and families directly affected by Hurricane Katrina.. All MRB loans come with a cash advance of 3% of the loan amount to assist in down payment and closing costs.

“The first-time homebuyer requirement has been waived in the GO Zone counties since Hurricane Katrina, so any qualified applicant can use the program,” said Dianne Bolen, Executive Director of MHC.

Qualified homebuyers may contact any one of the participating lenders, a list of which can be found at www.mshc.com/homebuyers/pdf/lenders/MHC_Lender_List.pdf . Program details and qualifications are available at www.mshc.com/homebuyers/mortgage revenue bond.htm.

Parties interested in the Mortgage Revenue Bond program or who wish to learn more about the Mississippi Home Corporation should contact MHC directly at 601.718.INFO (4636) or at www.mshomecorp.com.

 

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