• Conventional 95% to 97% LTV
• Federal Housing Administration (FHA)
• United States Department of Veterans Affairs (VA)
• Rural Development (RD)

This is a 30-year fixed-rate conventional loan available to low-to-moderate income borrowers who meet the MSHDA sales price and income limit eligibility guidelines. Many loan products are available and are outlined below. If the borrower has had ownership interest in a primary residence in the last three (3) years, they are not eligible for the program unless they are purchasing in a targeted area (where there are no prior homeownership restrictions). All adult members of the household must apply jointly for the loan. Non-occupant co-borrowers and co-signers are not permitted.

• Step Rates and/or Buydown options are available to eligible borrowers on certain loan types.
• Down Payment Assistance available to qualified borrowers using 97 percent LTV.
• Interested party contributions allowed for closing costs and certain prepaid settlement costs at either three, six, or nine percent (depending on LTV) of the lesser of the sales price or appraised value.
• Non-traditional credit allowed.
• Homebuyer education from an approved Counseling Agency is required if the LTV is 97 percent or higher, or if MSHDA down Payment Assistance is used.

If you are a participating MSHDA lender that would like to learn more about this MSHDA loan product, please visit the Product Specs. for the Conventional 95-97 percent.

This is a 30-year fixed-rate FHA loan available to low-to-moderate income borrowers who meet the MSHDA sales price and income limit eligibility guidelines. If the borrower has had ownership interest in a primary residence in the last three (3) years, they are not eligible for the program unless they are purchasing in a targeted area (where there are no prior home ownership restrictions). All adult members of the household must apply jointly for the loan. Non-occupant co-borrowers and co-signers are not permitted.

• Step and/or Buydown options available.
• Down Payment Assistance is available for eligible borrowers.
• Interested party contributions allowed up to 6% of the lesser of the sales price or appraised value.
• Non-traditional credit allowed.
• Homebuyer education from an approved Counseling Agency is required if Down Payment Assistance is used.

If you are a participating MSHDA lender that would like to learn more about this MSHDA loan product, please visit the Product Specs. for the FHA.

This is a 30-year fixed-rate VA loan available to low-to-moderate income borrowers who meet the MSHDA sales price and income limit eligibility guidelines. If the borrower has had ownership interest in a primary residence in the last three (3) years, they are not eligible for the program unless they are purchasing in a targeted area (where there are no prior home ownership restrictions). All adult members of the household must apply jointly for the loan. Non-occupant co-borrowers and co-signers are not permitted.

• Buydown option available.
• Non-traditional credit is allowed.

If you are a participating MSHDA lender that would like to learn more about this MSHDA loan product, please visit the Product Specs. for the VA.

This is a 30-year fixed-rate RD Guaranteed or Direct loan available to low-to-moderate income borrowers who meet the MSHDA sales price, income limit and first time homebuyer eligibility guidelines. The maximum mortgage amount can be the maximum amount guaranteed by Rural Development and include closing costs, prepaid/escrow items, and the RD guarantee fee. The maximum mortgage amount cannot include repairs and/or improvements to the property. If the borrower has had ownership interest in a primary residence in the last three (3) years, they are not eligible for the program unless they are purchasing in a targeted area (where there are no prior home ownership restrictions). All adult members of the household must apply jointly for the loan. Non-occupant co-borrowers and co-signers are not permitted. A down payment assistance feature is also available with the Rural Development Guaranteed loan program. Down payment assistance funds may be used to pay closing costs, prepaids/escrows and RD Guarantee Fee less the one percent cash investment from the borrower. The down payment assistance funds may not be used to buy down the principal amount of the mortgage to qualify the borrower.

• Maximum mortgage amount can be maximum guaranteed by RD including closing costs, prepaid/escrow items and the RD guarantee fee.
• Down Payment Assistance available for eligible borrowers.
• Interested party contributions allowed subject to RD approval.
• Non-traditional credit is allowed.

If you are a participating MSHDA lender that would like to learn more about this MSHDA loan product, please visit the Product Specs. for the RD Guaranteed, or the Product Specs. for the RD Direct.