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Easy8

Statewide, Mississippi

Last verified
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Income limit

$136,640

The household income limit the program publishes

Price cap

$380,640

Highest purchase price the program allows

Repayment

Deferred

No payments until the home is sold or refinanced

What is Easy8?

Easy8 is a deferred second loan for homebuyers in Statewide, Mississippi.

  • MHC bond DPA: 30-year fixed first + $8,000 deferred soft-second @ 0% (due-on-sale/refi/non-owner-occ/payoff). Statewide. FTHB required (waived in targeted areas/for vets).
  • Easy8 is Mississippi Home Corporation's bond-funded homebuyer program providing a 30-year fixed-rate first mortgage (FHA, VA, USDA-RD, Fannie Mae/Freddie Mac) plus $8,000 in down payment and closing-cost assistance. The DPA is structured as a 0% interest second mortgage with NO monthly payments and NO forgiveness schedule - the full $8,000 principal is due-on-sale, refinance, non-owner-occupancy, or first-mortgage payoff (deferred soft second). Funds may be used toward down payment, customary closing costs, or prepaid items. No liquid asset limit.
  • Funding comes from State and Bond.

Do you have to pay it back?

Easy8 is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Full $8,000 principal due upon sale, refinance, transfer, non-owner-occupancy, or payoff of the first mortgage. No monthly payments. Not forgivable.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Easy8 is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Federally designated targeted census tracts and honorably discharged veterans waive the first-time-homebuyer requirement.
  • The home is occupied as a primary residence
  • On credit: 640 minimum FICO per participating lender / servicer overlays.
  • A completed homebuyer education course, through MHC-approved homebuyer education provider (Framework, eHome America, or HUD-approved counseling agency).
  • Residency: Property must be located in Mississippi (statewide) and serve as the borrower's principal residence.
  • Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product overlays.
  • First-time homebuyer required (waived in federally targeted census tracts and for honorably discharged veterans). Property must be in Mississippi, owner-occupied principal residence. Income within MRB county/household-size table ($78,100 non-targeted 1-2p up to $136,640 targeted 3+p). Purchase price $314,760 non-targeted / $380,640 targeted. Homebuyer education required. Credit qualify with participating lender.

The program excludes

  • Purchases above the $380,640 price cap
  • Households above $136,640

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Easy8 limits household income to $136,640.

  • 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.

What kind of home can it be used for?

Easy8 caps the purchase price at $380,640.

  • Eligible property types include Single-family detached, condominium, townhouse, PUD and manufactured home on permanent foundation per servicer overlays.
  • New construction is eligible.
  • Manufactured homes are eligible.

Is there eligibility for specific groups?

Easy8 names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Easy8 serves buyers purchasing in Statewide, Mississippi.

  • The program targets specific areas: Federally designated targeted census tracts where MRB FTHB requirement is waived and higher income / purchase price limits apply.

How do you apply?

Applications for Easy8 go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through MHC-approved homebuyer education provider (Framework, eHome America, or HUD-approved counseling agency)..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Reserved through MHC's Lender Online portal at time of rate lock by approved participating lender., and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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