Mississippi Housing Assistance for Teachers (HAT)

How do you pay back Mississippi Housing Assistance for Teachers (HAT)?

This loan is forgivable: after at least three years of teaching in a school district with critical shortages, it's written off.

Once you've held on to the home and kept the first mortgage for the number of years the program sets, the forgivable loan is canceled.

Mississippi Housing Assistance for Teachers (HAT): who can qualify?

• You must buy a home in that county and work in a critical shortage school district; only teachers qualify.
• Unless you combine it with another MHC loan product, there's no income limit.
• Being a first-time buyer isn't required.
• Your mortgage is an FHA, VA, RD Guaranteed, Fannie Mae or Freddie Mac loan with a fixed rate over 25 or 30 years.

Your county and household size set most of the limits. To see the median income where you live and how your household compares, use our HUD income limits search.

Applying for Mississippi Housing Assistance for Teachers (HAT)

1. You apply, together with your home loan, through one of the approved lenders that Mississippi Home Corporation uses to pay out this help.
2. After comparing the home, your credit and income with the program rules, the lender reserves the money for you.
3. At closing, the help is paid toward the down payment and the closing costs on your home.

Mississippi Home Corporation's page for Housing Assistance for Teachers (HAT) has the full rules and says whether applications are open.

More first-time buyer programs in Mississippi

• Mississippi Smart7:

  Deferred loan of up to $7,000.

• Mississippi Easy8:

  Deferred loan of up to $8,000.

• Mississippi Trusty10:

  Repayable loan of up to $10,000.

• Mississippi Home4All:

  A grant of up to $25,000.

See every Mississippi first-time home buyer program · Down payment help in every state