New MSHDA $3-5,000.00 first time home buyer program.

If you follow this link http://www.ncsl.org/issues-research/banking/national-mortgage-settlement-summary.aspx and scroll to the bottom of the page you will see a list of how many of the States have used the mortgage settlement funds.

Special Guest Lisa Whitman of Mortgage1 Introduces a new MSHDA Homebuyer Assistance program. $15 million has been allocated for the Homebuyer Assistance grant program that will assist first-time homebuyers purchasing a single-family/one-unit, owner occupied, principal residence. Eligible first-time homebuyers are defined as a person who has not owned a home as their principal residence for three years prior to the date of purchase. Non-military homebuyers are eligible for grants up to $3,000. Active military and veterans are eligible for grants up to $5,000. Neither grant can exceed 25% of the purchase price. Grant funds may be used with any first lien mortgage transaction and can be combined with MSHDA’s Down Payment Assistance. NOTE: Military is defined as a member of the U.S. Armed Forces or National Guard and Reserves.

Other websites with information for the NMS: http://nationalmortgagesettlement.com/ And https://www.mortgageoversight.com/

first time home buyer program

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