City of Jackson Homebuyer Assistance Program

City of Jackson Homebuyer Assistance Program is a deferred second loan for homebuyers in Jackson, Mississippi, administered by City of Jackson Office of Housing and Community Development (OHCD). The City of Jackson awards HOME Investment Partnerships funds to nonprofit partners to provide down payment assistance to low- and moderate-income households purchasing homes within Jackson city limits. Assistance amount is tailored to the family's need to ensure affordability. Down payment assistance amount set based on the needs of the family to ensure affordability. Funding comes from HUD HOME Investment Partnerships Program.

City of Jackson Homebuyer Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Jackson Homebuyer Assistance Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through Approved 8-hour homeownership education course. Residency requirement: Property must be located within the city limits of Jackson. Home must be within Jackson city limits and used as the applicant's primary residence for the affordability period. Applicant must complete an approved 8-hour homeownership education course. Administered through nonprofit subrecipients (e.g., Voice of Calvary Ministries). Specific assistance dollar amount, lien terms, and forgiveness/repayment terms not published.

City of Jackson Homebuyer Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Annual household income at or below 80% of area median income (AMI). The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Jackson Homebuyer Assistance Program caps the purchase price at $156,000.

City of Jackson Homebuyer Assistance Program serves homebuyers purchasing in Jackson, Mississippi.

Applications for City of Jackson Homebuyer Assistance Program go through City of Jackson Office of Housing and Community Development (OHCD), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.