Jackson Housing Authority HCV Homeownership Program

Jackson Housing Authority HCV Homeownership Program is down payment assistance for homebuyers in Jackson, Mississippi, administered by Jackson Housing Authority. JHA converts existing Housing Choice Vouchers into monthly homeownership subsidies for qualifying first-time homebuyers. The voucher subsidy covers a portion of the monthly mortgage payment for up to 15 years (shorter for elderly/disabled). Applicants must be current HCV participants, first-time homebuyers, meet minimum income/employment requirements, and complete pre- and post-purchase homebuyer education counseling. JHA is the only HUD-approved Local Housing Counseling Agency (LHCA) in Mississippi and has operated the homeownership program for 11+ years. Separate FHLB down payment assistance grant also available — see Federal Home Loan Bank Checklist on website. Monthly mortgage payment subsidized up to 15 years via voucher conversion; FHLB down payment assistance grant available separately; JHA is HUD-approved housing counseling agency.

Jackson Housing Authority HCV Homeownership Program is down payment assistance and is repaid under the terms set by Jackson Housing Authority. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Jackson Housing Authority HCV Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Must meet lender credit guidelines; no JHA-specific minimum published. A homebuyer education course is required, through Mississippi Housing Partnership (601-969-1895); JHA-approved HUD counseling agencies. Must be current HCV participant with JHA. Must be first-time homebuyer. Must meet minimum income and full-time employment requirements (exceptions may apply). Must attend pre- and post-purchase homebuyer education counseling through Mississippi Housing Partnership (601-969-1895). Must meet lender credit guidelines. HQS inspection required on purchased unit. 3% minimum down payment (at least 1% from family's own funds per HUD rules).

Jackson Housing Authority HCV Homeownership Program sets its income limit as follows: Must be current HCV participant; income eligibility already established via voucher program (typically 50% AMI or below). 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.

Jackson Housing Authority HCV Homeownership Program caps the purchase price as follows: Not published; must be appraised and HQS-inspected unit. Eligible property types include single_family and manufactured_home. New construction is eligible. Manufactured homes are eligible.

Jackson Housing Authority HCV Homeownership Program serves homebuyers purchasing in Jackson, Mississippi.

Applications for Jackson Housing Authority HCV Homeownership Program go through Jackson Housing Authority, 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.