Assistance program · Mississippi
Smart7 Mortgage Program
Mississippi state corporation 30-year mortgage with $7,000 for the down payment or closing costs as a 0% second mortgage, repaid when you sell, refinance, stop living in the home or pay off the mortgage; no first-time buyer requirement
At a glance
- Most it gives, per the source
- $7,000
- What its page says; your amount depends on the price and the loan.
- Kind of help
- Deferred
- Second loan with no payments until you sell or refinance
- First-time buyer?
- No
- No first-time requirement
- Checked
- November 5, 2026
- Against the program's official page.
Type of help
What it is
- Second loan with no payments until you sell or refinance
What it gives
$7,000
Source text
$7,000 downpayment and/or closing cost at 0% interest. … Payable back to MHC at Due-On-Sale, Refinance, Non-Owner Occupied, or 1st Mortgage Paid in Full A summary of what the program publishes; not a loan offer or advice. Amounts, limits and funding change without notice.
At a glance
Who qualifies
Each answer comes from the program's page. "Not stated — ask" means its page doesn't make it clear: ask before you apply.
Source text
No first-time homebuyer requirements … Purchase price cannot exceed $398,310 … Household annual income cannot exceed $132,770 … Credit score is based on servicer guidelines … Smart7 is offered through our participating lenders. - First-time buyers only No
- Homebuyer course required Not stated — ask
- Minimum credit score Not stated — ask
- Income limit A flat cap; see the source
- Price limit $398,310
- Mortgages it works with Not stated — ask
- Immigration requirement Legal residence in the U.S., per the source
- Accepts ITIN? Not stated — ask
- Spanish materials Not stated — ask
- Program status The source does not say whether it is open — ask
- Where it applies All of Mississippi
What its page says about being open
Its page does not say whether the program is open or has funds. Ask the lender or the agency before counting on it. Read on the official page on November 5, 2026.
Your area in numbers
What buying costs in Mississippi
The program covers all of Mississippi. The first column is Mississippi's figure; the second runs from the lowest to the highest among its counties. Limits change by county: check yours.
The program's maximum price, $398,310, is 135% above the typical home value in Mississippi ($169,800).
The typical home value ($169,800) fits within Mississippi's FHA limit ($541,287).
The program publishes an income cap of $132,770 for the household. For reference, HUD's low-income limit for 4 people in Mississippi is $57,600.
| Figure | Mississippi | Lowest to highest | Source |
|---|---|---|---|
| Typical home value | $169,800 | $69,600 (Quitman County) to $315,400 (Lafayette County) | U.S. Census Bureau |
| FHA limit (one-unit home) | $541,287 | $541,287 in all 82 counties | HUD |
| Conforming limit (one-unit home) | $832,750 | $832,750 in all 82 counties | FHFA |
| HUD low income (80%), household of 4 | $57,600 | $57,600 (Adams County) to $78,500 (Lafayette County) | HUD |
Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024) · FHA mortgage limits (HUD) (2026 data) · Conforming loan limits (FHFA) (2026 data) · Income Limits (HUD) (Fiscal year 2026)
Step by step
How to use it, step by step
Each step comes from what the program's page says. What its page leaves out is further down, in the questions.
Find a participating lender-
Ask first whether it is open
Its page does not say whether it is open or still has funds. That is the first thing to ask.
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Your income cannot go above $132,770
According to its page, the cap counts the whole household's income.
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The home cannot cost more than $398,310
That is the maximum price the program publishes. Compare it with your area's typical home value in the table above.
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Find a participating lender: state programs do not take applications directly; the lender reserves the assistance while processing your mortgage.
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Compare the total cost before you sign
Ask about the total cost. The mortgage with assistance may carry a higher rate than without it, and some programs charge for the course or a fee.
Before you call
What to ask
Its page leaves 6 points unclear. Write them down for when you talk to Mississippi Home Corporation.
What its page does not say
- Is it open now, and does it still have funds?
- Do you require a homebuyer course? Which ones do you accept, and what do they cost?
- What minimum credit score do you require?
- Which mortgage types does it work with: FHA, VA, USDA or conventional?
- Do you accept an ITIN?
- Do you have materials or staff in Spanish?
Worth asking for this kind of help
- When is the second loan repaid: when I sell, refinance or pay off the mortgage?
Against the others
How it compares with Mississippi's other programs
The 3 programs we checked in Mississippi, with the same fields from their official pages. "Doesn't say" means its page does not make it clear.
It is the only one of Mississippi's 3 programs that says you do not need to be a first-time buyer. It is one of 3 out of 3 that publish an amount with the figure in their own wording. One other program in the state also gives "deferred" help: Easy8.
Swipe the table to see every column.
| Program | Kind of help | Published amount | First-time buyers only | Course required | Accepts ITIN | Where it applies |
|---|---|---|---|---|---|---|
| Smart7 Mortgage Programthis program | Deferred | $7,000 | No | Doesn't say | Doesn't say | Statewide |
| Easy8 | Deferred | $8,000 | Yes | Yes | Doesn't say | Statewide |
| Home4All | Grant | Up to $25,000 | Yes | Yes | Doesn't say | Statewide |
Sources
How we checked this program
We read the program's official pages on November 5, 2026 and copied their text as it appears on them. We add no amounts or requirements those pages do not state, and a program is listed as open or closed only when its page says so.
We check every program again. If more than 180 days pass without a check, the page says so.
Get free help applying
A HUD-approved housing counselor explains the program's requirements, goes over your numbers and tells you what to ask the lender. They do not sell loans.
Find a counselor (HUD)Read before you apply
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Help and programs
Down payment assistance: how it works
What down payment assistance is, the types that exist (grant, forgivable or deferred second loan, tax credit), who qualifies and where to find it.
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Help and programs
HUD housing counselors: what they do and what they cost
What a HUD-approved housing counselor does, what they help with (buying, renting, missed payments, credit), what they may charge and how to find one.
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Help and programs
Public charge and housing: what the rules say
Public charge: which housing help DHS may consider, who is exempt, how HUD prorates assistance for mixed-status families and where to get free advice.
Your county
Price and income limits depend on the county. Your county page has the typical value, the FHA limit and the counseling agencies that can walk you through the application.