House buying help available for Lafayette County teachers

The Housing Assistance for Teachers program in Mississippi helps teachers buy homes in areas with critical teacher shortages.

The program is currently available locally for teachers in the Lafayette County School District as it was one of the districts recognizes as having a teacher shortage.

Eligible teachers must commit to three years of service in designated districts. The program offers forgivable grants up to $6,000 for closing costs and down payments. Applicants must meet specific credit requirements and provide a 1% down payment.

Properties must be in the teacher’s employment district. There are no income limits unless combined with other Mississippi Home Corporation loan products.

There are no income limits unless combined with other Mississippi Home Corporation loan products.

This grant is forgiven if the applicant remains employed for three years in one of the 71 school districts in Mississippi where a critical shortage of teachers exists.

Additionally, this grant must be used in conjunction with a 25- or 30-year fixed loan, FHA, VA, USDA, Fannie Mae, or Freddie Mac product. The funds available are dispersed on a first-come, first-served basis, and the grant program is funded on a yearly basis.

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