MHC Housing Assistance for Teachers (HAT)
Funding status: Active
How much assistance
Up to $6,000 (Forgivable Loan)
Forgivable if the teacher meets the 3-year service requirement and residency conditions. Converts to a repayable loan if the service requirement is not met.
Eligibility
- Income limits: Must meet credit eligibility requirements of FHA, VA, RD Guaranteed, Fannie Mae, or Freddie Mac.
- First-time buyer required: No
- Geographic restrictions: Property must be in the county where the teacher is employed, and the county must be designated as a critical shortage district by the Mississippi Department of Education.
- Homebuyer education required: No
How to Apply for MHC Housing Assistance for Teachers (HAT)
Step 1: Contact the Mississippi Home Corporation at (601) 718-4642 for application materials. Must be a full-time licensed teacher assigned to at least 3 instructional periods per day in a critical shortage district. Agree to teach in the district for 3 years starting at the beginning of the school year.
Notes
Funds cover closing costs associated with home purchase. Teacher must be assigned to an instructional area of work as defined by MDE. Program availability depends on annual funding allocation.