Homebuyer Programs in Olive Branch, MS (2026)
Olive Branch is one of the fastest-growing cities in Mississippi, located in DeSoto County just south of Memphis, Tennessee. With a population of approximately 48,000 and a median home price around $320,000, it is one of the higher-priced markets in the state. While Olive Branch does not currently offer a city-funded down payment assistance program, buyers here can take advantage of several state and nonprofit options. Mississippi Home Corporation provides statewide programs including Smart6 ($6,000), Easy8 ($8,000), and Trusty10 ($10,000) in down payment help. Southern Bancorp, which has a branch in Olive Branch, offers the Wealth Builders program with up to $12,000 in forgivable assistance. Arcadia-DeSoto Habitat for Humanity serves DeSoto County with affordable homeownership opportunities. With closing costs typically ranging from $6,500 to $9,500, stacking state programs with the Southern Bancorp Wealth Builders grant can help offset a significant portion of upfront costs.
Top Homebuyer Programs in Olive Branch
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
| Arcadia-DeSoto County Habitat for Humanity Homeownership | Zero-Interest Loan | Affordable home with below-market financing | No | View → |
| Southern Bancorp Wealth Builders DPA Program | Forgivable Loan | Up to $12,000 | No | View → |
| MHC Easy8 Program | Deferred Loan | Up to $8,000 | Yes | View → |
| MHC Housing Assistance for Teachers (HAT) | Forgivable Loan | Up to $6,000 | No | View → |
| MHC Smart6 Program | Deferred Loan | Up to $6,000 | No | View → |
| MHC Trusty10 Program | Zero-Interest Loan | Up to $10,000 | No | View → |
| Mississippi Mortgage Credit Certificate (MCC) | Grant | Up to $2,000 per year (tax credit) | Yes | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Affordable home with below-market financing
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $12,000
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to $8,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $6,000
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to $6,000
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Up to $10,000
- First-time only:
- No
- Type:
- Grant
- Amount:
- Up to $2,000 per year (tax credit)
- First-time only:
- Yes
How to Apply
- Step 1:
Check your eligibility for Mississippi Home Corporation statewide programs including Smart6, Easy8, Trusty10, and the Housing Assistance for Teachers program at mshomecorp.com
- Step 2:
Contact Southern Bancorp at their Olive Branch location at (662) 895-8955 to learn about the Wealth Builders down payment assistance program offering up to $12,000 in forgivable assistance
- Step 3:
Complete a homebuyer education course through a HUD-approved counseling agency, which is required for most programs
- Step 4:
If you are interested in a Habitat for Humanity home in DeSoto County, contact Arcadia-DeSoto Habitat for Humanity to learn about their application process
- Step 5:
Get pre-approved for a mortgage through a Mississippi Home Corporation approved lender to access state DPA programs
- Step 6:
Work with your lender to combine the programs you qualify for and submit your mortgage application with assistance funds applied at closing