Thursday, October 19, 2017
  1. Down Payment Assistance for First Time Homebuyers


    A major stumbling block for potential homeowners when trying to acquire a safe, decent, and affordable home is finding cash for downpayment and closing cost. For that reason, the goal for our affordable housing project is to provide support to first time home buyers in the low, very low and moderate income brackets, that need down payment and closing cost assistance. Because of income levels, typically there are no extra funds available for down payment assistance, therefore grant funding is usually the only way these families would be able to attain their dream of homeownership.

    Features of the Down Payment Assistance Program:

    • Mississippi Home Corporation sponsored Smart Solutions Premium. Provides a grant that is 4% of loan amount with NO repayment and NO deed restrictions.

    • Home Loan Plus - Mississippi Home Corporation sponsored grant that is competitive, $25,000 over a 5 year period (with a deed restriction) that is forgiven after 5 years.

    • Affordable housing program, grant amount is subject to change each year (has a 5 year deed restriction).

    • Home Equity Loan Program sponsored by the Federal Home Loan Bank of Dallas, pays up to $7,500 in down payment and closing cost assistance.

    Who is Eligible:

    • First-time homebuyers with low to moderate income not to exceed Area Median Income.

    • Acceptable credit score.

    • Applicant who has successfully completed an 8-hour Homebuyer Education Class.

    To submit your information to be reviewed for the down payment assistance program, please call the City of Vicksburg Housing Department at 601-634-4528 and ask for Gertrude Young (Housing Director) or Angela Turner (Housing Coordinator) or fill out the information in the form below.

  2. First Time Homebuyer Assistance Form


  3. (This information is kept private and confidential)
  4. Your Full Name(*)
    You must included your name
  5. email(*)
    You must enter a correct email address
  6. Street Address(*)
    You must included your street address
  7. City(*)
    You must included your city
  8. State(*)
    You must included your state
  9. Zip Code(*)
    Please enter a valid zip code
  10. Telephone Number(*)
    Invalid Input
  11. Number of People in the household(*)
    You must enter teh total number of people in the household

  12. List of Income and Amount: (Gross monthly ssi, disability, payroll, etc)
  13. Income Source 1
    Income Source 2 should be numeric
  14. Monthly Income From Source 1
    Income Amount 1 should be a number
  15. Income Source 2
    Invalid Input
  16. Monthly Income From Source 2
    Invalid Input
  17. Income Source 3
    Invalid Input
  18. Monthly Income from Source 3
    Income from Source 3 should be a number
  19. Comments
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  20. Security Code(*)
    Security Code
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