NMRLS is beginning the HOME4ALL project sponsored by Mississippi Home Corporation.
The next scheduled class is March 8, 2025 between the hours of 9:00 am 4:00 pm at the Administrative Office located at 493 Ryland Drive, Oxford, MS. However, NMRLS will be scheduling other classes across North Mississippi. Please share with persons within your circle that may benefit from this. There is no charge for the classes.
Registration for this class can be made by calling 6622348731 ext 2109 or extension 2110. If you have any questions, feel free to contact Ruby at the telephone number below.
Homebuyer Flow Chart
1. Intake with a Housing Counseling Agency
2. Homebuyer Education Training
3. Eligibility Review for Grant
4. Pre-Approval with the Lender
5. Shop for a Home, Contract, Home Inspection, Environmental Clearance, Get a Mortgage Loan
6. Closing with Homebuyer Assistance
Homebuyer Tips
• Don't incur more debt
• Do keep an eye of your credit report.
• Don't make any career changes
• Do save cash reserves.
• Do attend a Homebuyer Workshop.
• Submit documents promptly.
• Don't start looking for a house before you are pre-approved
• Must be a first-time homebuyer
• Homebuyer Assistance includes:
• Down payment Assistance
• Closing Cost Assistance
• Mortgage Interest Buydowns
• Principal Reduction
• An executed written agreement is required.
• Affordability period: (5 years or 10 years - determined by the grant award amount).
• Recapture Provision: the sale of the property will require HOME funds recaptured at a pro-rata amount. MHC will provide a payoff amount that will be due within 30 days of request