HERNANDO HOMEBUYER ASSISTANCE PROGRAM

The City of Hernando has received State grant funds from the Mississippi Development Authority to assist low and moderate income persons who would like to purchase a home.  The program provides a grant of $30,000.00 per applicant that can be used toward a down payment on a home, help with closing costs, or help with reducing a home's price so that the buyer can afford it.

Income Eligibility:

Family Size 1 = $32,400, 2 = $37,000, 3 = $41,650, 4 = $46,250,      5 = $49,950, 6 = $53,650, 7 = $57,350 and 8 = $61,050

Other Eligibility Criteria:

• There are only 9 grants available.  Applications are approved on a first-come, first-served basis.
• No first-time home buyer requirement.  Applicants must not currently own a home and must secure a mortgage through a financial institution at a fixed interest rate.
• Property must be located within the city limits of Hernando.
• Primary residence only.
• The home must be kept for 15 years, or teh $30,000 or a portion must be repaid.
• Homebuyer education is required through Sacred Heart

For more information on this program, please call DOUG CAPPS at (662) 429-5100 Ext. 105.

Fairway Independent Mortgage Corporation, 224 West Commerce St, Hernando, MS 38632 is a "MS and TN Licensed Mortgage Company."  An Equal Housing Lender.  All loans are subject to credit approval and compliance with investor guidelines.

Know your mortgage options!