Home4All FAQ's

General
Property Standards
Eligibility
Environmental Review
Housing Counseling
Affordability Requirements
Property Eligibility
Recapture
Financing

General Questions

Home4All is a HOME-funded Homebuyer Assistance Program administered by Mississippi Home Corporation (MHC) that provides down payment assistance and closing cost assistance as a forgivable grant to eligible homebuyers.

Assistance may include:

  • Down payment assistance
  • Closing cost assistance
  • Principal reduction

No. Home4All assistance is provided as a forgivable grant subject to affordability requirements and recapture provisions.

The program is administered by Mississippi Home Corporation (MHC).

To expand sustainable homeownership opportunities for low-income Mississippi households while maintaining compliance with HUD HOME requirements.

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Eligibility

Applicants must:

  • Be income-eligible (80% AMI or below)
  • Be first-time homebuyers
  • Be approved for a fixed-rate mortgage
  • Occupy the home as their principal residence
  • Be a U.S. citizen or qualified registered alien

A person who has not owned a principal residence during the previous three years.

Yes. Home4All reserves funding for households that include members with disabilities.

Household income cannot exceed 80% of the Area Median Income (AMI) as defined by HUD's most recent income limits.

Income is calculated using HUD Part 5 Annual Income requirements.

Examples include:

  • Two months of pay stubs
  • Two months of bank statements
  • Tax transcripts
  • Social Security statements
  • Benefit award letters

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Housing Counseling

Yes. All adult household members listed on the deed must complete an 8-hour homebuyer education course.

Yes, if the course meets HUD requirements and is approved by MHC.

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Property Eligibility

Eligible properties include:

  • Single-family homes
  • Condominiums
  • Two-to-four-unit properties
  • Manufactured housing

Yes.

No.

Yes, if:

  • Installed on a permanent foundation
  • Connected to utilities
  • Meets HUD standards

Only if all deficiencies are corrected before closing, and there is a clear HUD inspection report.

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Financing

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Property Standards

Yes.

A licensed home inspector.

  • Local building code
  • HUD Housing Quality Standards (HQS)
  • Energy code requirements for new construction

Yes, for homes built before 1978.

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Environmental Review

Yes.

Mississippi Home Corporation (once a property address is provided)

No.

Properties must be reviewed for historic impacts through the Mississippi Department of Archives and History.

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Affordability Requirements

Yes.

The assistance may become subject to recapture.

Assistance Amount Affordability Period

  • Less than $15,000 - 5 Years
  • $15,000-$40,000 - 10 Years

Annual principal residency certifications and supporting documentation.

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Recapture

Recapture is the repayment of HOME assistance when the property is sold or transferred during the affordability period.

Not always. Repayment is based on the affordability schedule and available net proceeds.

Sales price minus:

  • Mortgage payoff
  • Closing costs
  • Other allowable deductions

No.

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For all other questions and concerns, please email home4all@mshc.com or call 601-718-4647.

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