Housing Choice Voucher Homeownership Program

The Housing Choice Voucher Homeownership program was created by the Department of Housing and Urban Development (HUD) to help qualified participants on the Voucher Program to become homeowners. The family's participation in the program is completely voluntary. The ultimate goal is to provide opportunities for families to become first time homebuyers and remain stable homeowners in their community.

Qualifications for Program Eligibility
The family must be a current Housing Choice Voucher Participant with MRHA IV for at least one year and must be in good standing.

The family must be a first time homebuyer.

*The family must meet the minimum income requirement of $14,500 to ensure the families will have enough income to pay homeownership and other family expenses.

*Full-time employment for at least one year prior to application (30 hrs per week).

Welfare assistance may be used for elderly and disabled families only.

*Elderly Heads of household and Disabled Heads of Household income are exempt from employment and mimimum income requirement

Minimum Down Payment
HUD requires a minimum down payment requirement of 3% or more of the purchase price with at least 1% of the purchase price coming from the family's own personal resources.


Eligible Units 

The units must be under construction or already existing.

The unit must be either a single family home, or a NEW mobile home.

The home must be inspected and passed a Housing Quality Standards (HQS) inspection. In addition, an independent inspector, chosen and paid for by the family, must inspect the unit and pass it.

The seller of the home must not be a person or entity debarred, suspended, or subject to a limited denial of participation.

Family Obligations 

The family must complete First Time Home Buyers counseling sessions.

The family must comply with the mortgage terms.

The family must notify the Mississippi Regional Housing Authority IV of any changes, such as: selling the home, refinancing the home, change in income and family composition, or any other circumstances that would affect the family's ability to maintain the home.

Maximum Term of Assistance 

The maximum terms of assistance are as follows:

15 years for mortgages of 20 years or more

10 years for all other mortgages

There are no term limitation for elderly or disabled families

Termination of Assistance 
Termination of assistance may occur because of mortgage default, failure to comply with family obligations, and any other program violations.



For more information, please contact Robert Herd, Director of Special Programs (662) 327-4121 ext. 8031 or email.