State Buyer Guide
Down payment assistance, Mississippi housing programs, closing cost estimates, and what to know before buying — including from FSBO sellers.
FSBO sellers take pre-approved buyers seriously. LendingTree lets you compare rates from 200+ lenders in minutes — for free.
Affiliate link — we earn a commission at no cost to you. Disclosure
The Mississippi Home Corporation (MHC) is your primary source for below-market mortgage rates and down payment assistance in Mississippi. Programs are available through approved lenders — not directly through the HFA.
30-year fixed-rate mortgages with forgivable DPA for first-time buyers.
Bond-funded program with below-market rate mortgages.
Personalized mortgage rates in 3 minutes
See real rates from multiple lenders with one soft credit pull. Credible pays up to $240 per funded loan — which means they have every reason to find you the best rate.
Compare Mortgage Rates →On a $175,000 home: approximately $4,200
Mississippi does not charge a real estate transfer tax on residential sales, which helps keep closing costs lower for first-time buyers.
Mississippi is an attorney-closing state. A licensed Mississippi attorney must conduct the closing. Budget $500–$800.
Find licensed home inspectors near you
HomeAdvisor instantly matches you with licensed, background-checked home inspectors in your area. Read real reviews, compare quotes, and book online.
Find an Inspector →As an attorney-closing state, Mississippi requires a licensed real estate attorney to conduct your closing. You'll also want one to review your purchase agreement.
Nolo has been the go-to legal resource for DIY buyers since 1971. Their real estate guides explain purchase agreements, contingencies, and closing in language anyone can understand.
Browse Legal Guides →Get a real estate attorney to review your purchase agreement or help you draft an offer letter — often for a fraction of traditional legal fees.
Get Legal Help →Download state-specific purchase agreements, addenda, and disclosure forms — written by attorneys, ready to use in your state.
Browse Real Estate Forms →Mississippi first-time buyers can access programs through the Mississippi Home Corporation (MHC) (https://www.mshomecorp.com/), including the MHC Smart6 Program (6% of purchase price in forgivable DPA — forgiven after 10 years) and the MHC Mortgage Revenue Bond Program (Below-market interest rates on 30-year fixed mortgages). Federal programs like FHA loans (3.5% down) and USDA loans (0% down in eligible areas) are also available.
Closing costs in Mississippi typically run 2.4% of the purchase price. Transfer tax: None for primary residences. Mississippi does not charge a real estate transfer tax on residential sales, which helps keep closing costs lower for first-time buyers.
Mississippi is an attorney-closing state. A licensed Mississippi attorney must conduct the closing. Budget $500–$800.
The median home price in Mississippi is approximately $175,000. Property taxes average 0.64% of assessed value annually.
Ready to start the process?