See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated March 27, 2026
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.
State Programs in Mississippi
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| 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:
- 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
Federal Programs
| 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 → |
| 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 → |
- 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:
- 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
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| 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 → |
- 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
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
Frequently Asked Questions
What down payment assistance programs are available in Olive Branch?+−
What are the typical closing costs in Olive Branch?+−
Do I have to be a first-time homebuyer to get help in Olive Branch?+−
Does Southern Bancorp have a location in Olive Branch?+−
What is the median home price in Olive Branch?+−
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