HOPE Credit Union Affordable Housing Program

HOPE Credit Union Affordable Housing Program is a first mortgage for homebuyers in Mississippi, administered by Hope Credit Union (HOPE / Hope Federal Credit Union). HOPE Credit Union's Affordable Housing Program is a special mortgage option for low- to moderate-income borrowers across the Deep South (including Mississippi), offering up to 100% financing, no PMI, flexible credit standards, and assistance toward down payment and closing costs. HOPE is a CDFI credit union. 100% financing on homes up to $350,000 and 97% financing up to $425,000; no private mortgage insurance; competitive fixed rates; nontraditional/alternative credit accepted; assistance toward down payment and closing costs; qualified borrowers may be eligible for down payment assistance based on availability and location.

HOPE Credit Union Affordable Housing Program is a first mortgage and is repaid under the terms set by Hope Credit Union (HOPE / Hope Federal Credit Union). The assistance is recorded in first position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

HOPE Credit Union Affordable Housing Program is open to homebuyers who will live in the home as their primary residence. The program lists a minimum credit score of 580. A homebuyer education course is required. Must be a HOPE Credit Union member. Down payment assistance availability depends on funding and property location. Alternative credit requires at least 3 lines of verified credit over 12 months. Specific DPA dollar amount/terms not published; confirm with a HOPE mortgage lender.

HOPE Credit Union Affordable Housing Program limits household income to 120% of the area median income, which varies by county and household size. No income limits in designated target areas; up to 120% of area median income (AMI) allowed in non-target areas. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

HOPE Credit Union Affordable Housing Program caps the purchase price at $425,000.

HOPE Credit Union Affordable Housing Program serves homebuyers purchasing anywhere in Mississippi. The program targets specific areas: Income limits are waived in designated target areas.

Applications for HOPE Credit Union Affordable Housing Program go through Hope Credit Union (HOPE / Hope Federal Credit Union), 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.