Mississippi Regional Housing Authority IV HCV Homeownership Program

What is Mississippi Regional Housing Authority IV HCV Homeownership Program?

Mississippi Regional Housing Authority IV HCV Homeownership Program is down payment assistance for homebuyers in Columbus, Mississippi, administered by Mississippi Regional Housing Authority IV (MRHA IV).

• MRHA IV converts existing Housing Choice Vouchers into monthly homeownership subsidies for qualifying first-time homebuyers. Participant must have held HCV with MRHA IV for at least one year and be in good standing. Participation is voluntary. Minimum income $14,500 (elderly and disabled heads of household exempt from income/employment minimums). Requires full-time employment (30+ hrs/week) for at least one year prior to application (welfare assistance may substitute for elderly/disabled). 2026 Income Limits posted on MRHA IV website.
• Monthly mortgage subsidy via HCV conversion; program is voluntary; elderly/disabled heads of household exempt from employment and minimum income requirements.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from HUD Housing Choice Voucher program (24 CFR Part 982 Subpart M).

Do you have to pay it back?

Mississippi Regional Housing Authority IV HCV Homeownership Program is down payment assistance and is repaid under the terms set by Mississippi Regional Housing Authority IV (MRHA IV).

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Mississippi Regional Housing Authority IV HCV Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Mississippi Regional Housing Authority IV HCV Homeownership Program sets its income limit as follows: Minimum gross income of $14,500 required; elderly/disabled heads of household exempt from minimum income requirement; income eligibility already established via HCV enrollment.

• 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?

Mississippi Regional Housing Authority IV HCV Homeownership Program caps the purchase price as follows: Not published; unit must pass HQS inspection and independent inspection.

• Eligible property types include single_family and manufactured_home.
• New construction is eligible.
• Manufactured homes are eligible.

Where does it apply?

Mississippi Regional Housing Authority IV HCV Homeownership Program is a federal program, so it is not limited to Mississippi.

How do you apply?

Applications for Mississippi Regional Housing Authority IV HCV Homeownership Program go through Mississippi Regional Housing Authority IV (MRHA IV), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved First-Time Home Buyers counseling sessions (required per HUD regulations).

2. 2

   Contact Mississippi Regional Housing Authority IV (MRHA IV) to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 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.