Smart Solution

Mississippi Home Corporation’s Smart Solution Mortgage can give you the funds you need to purchase your first home or move up to your next one. Our new program offers competitive interest rates with down payment assistance as cash advance or a second mortgage. Smart Solution is offered through our participating lenders at a 30 year fixed rate.

Buyer Eligibility:

  • Must serve as your primary residence
  • Household annual income cannot exceed $95,000
  • Must be a legal resident of the United States
  • Must have a minimum credit score of 620 for FHA, USDA or VA loans and Freddie Mac loans

Property Eligibility:

  • New or existing home located in the state of Mississippi
  • Single family home, townhouse, condominium, or duplex
  • Manufactured homes using FHA financing

Benefits to Homebuyers:

  • 97% Loan (Freddie Mac Only)
  • Lower mortgage insurance premiums
  • Competitive interest rates quoted daily
  • First-time homebuyers may be eligible for more savings by combining a Mortgage Credit Certificate (MCC) with MHC’s Smart Solution Mortgage. Qualifying homebuyer may claim 40% of their mortgage interest (up to $2000 per year) as credit on federal income taxes, while still claiming the remaining 60% of interest as a deduction
  • Smart Solution and the MCC are both available statewide through participating lenders. Contact a participating lender below to find out if you quality for MHC's Smart Solution mortgage program!
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SMART SOLUTION SECOND

  • 3.5% downpayment as 2nd mortgage
  • Second mortgage with same rate as the first
  • 10 year loan
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