Down Payment Help
Options to get help with your down payment and closing costs
Saving for a down payment can be one of the biggest obstacles to making your dream of home ownership come true.
Explore available options to support your down payment and closing costs, allowing you to maximize the potential of your savings. If you qualify for multiple programs, we can assist in finding the ideal combination tailored to your needs. Let us help you discover what works best for you.
Down Payment and Closing Cost Assistance Options:
Up to $20,000
In Down Payment &/or Closing Costs Assistance
The Homebuyer Equity Leverage Partnership (HELP) Down Payment Assistance Grant assists income-qualified, first-time home buyers with up to $20,000 down payment and/or closing costs assistance. These funds are provided in partnership with the Federal Home Loan Bank in Dallas. HELP funds are available until the funds are exhausted or until December 31, 2024. whichever comes first. Income and other restrictions apply.
Up to $10,000
In Down Payment & Closing Costs Assistance
Available through the MS Home Corporation, several loan and down payment assistance programs are available to purchase a home within the state of Mississippi. These programs range from $6,000 to $10,000. Income, property, and other restrictions may apply.
Home Loans With 100% Financing
VA
This is a fixed-rate loan designed for qualified military veterans to buy a home with no down payment. VA loans offer competitive low interest rates, limited closing costs and no need for private mortgage insurance (PMI) which helps you save money every month.
USDA
Contact Shakita Lofton to See How These Programs May Work for You!
Financial Guidance
Have questions? Learn the basics about buying a home.
Making a Down Payment
All About Escrow Accounts
Benefits for Veterans
See separate disclosures for each loan listed here for more details. Loans may require escrow of taxes, insurance, and other assessments. All loans are subject to credit approval. Rates & underwriting guidelines are subject to change without notice. Income and location restrictions may apply to some loan programs. Contact a Grand.bank home lender for current details.
Important Information About Procedures for Opening a New Account or Establishing a New Customer Relationship:
The USA PATRIOT Act is a federal law that helps the government fight the funding of terrorism and money laundering activities. Federal law requires all U.S. financial institutions to obtain, verify and record information that identifies each person who opens an account or establishes a customer relationship with Grand Bank for Savings, FSB. What this means for you: When you open a bank account, we will ask you for your name, address, date of birth, and other information that will allow us to reasonably identify you. We may also ask to see your driver’s license or other identifying documents at any time.