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Fixed Rate Mortgage (Conforming)
Fixed rate mortgage terms range from less 10 years to 40 years. There are numerous products available to fit every need, from a zero down payment on a purchase to refinancing and taking equity out of your property.
Quick and Easy Stated Income
A program designed for self employed or salaried borrowers with excellent credit history, consistent income source, and an established savings pattern.
For this product, the borrower’s income is stated; however, a minimum two year employment history must be verified.
No Income, No Assets
A program designed for self employed or salaried borrowers with excellent credit history, consistent income source, and an established savings pattern.
For this product, the borrower’s income and assets are not shown on the application or stated anywhere in the file. A minimum two year employment history must be verified.
Flexible Mortgage (100% Loan or 97% Loan)
A flexible mortgage is designed for borrowers with limited down payment. The down payment and closing costs are allowed to come from flexible sources (grants, gifts, loans, etc.). Borrowers must make a minimum contribution of $500 of their own funds.
80/20 Mortgage
A program consisting of a first mortgage in the amount of 80% and a second mortgage for 20% of the purchase price. No PMI is required. Income and assets are verified.
Lender Paid PMI Mortgage
A mortgage, financing up to 100%, where the PMI is paid by the lender. Down payment and closing costs are allowed to come from flexible sources (grants, gifts, loans, etc.). Borrower's minimum contribution is $500 of their own funds.
Guaranteed Rural Housing Program -
USDA Rural Development
This product requires no down payment, no monthly mortgage insurance premiums, and no limit to seller contributions. There are income limits and there is a 2% non-refundable guarantee fee paid at closing. This program is designed for low to moderate income borrowers. Thermal paned windows are also required.
Housing Assistance for Teachers
A program for teachers living in the district where they teach. Down payment and closing cost assistance available through Mississippi Home Corporation.
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