With $10,000 of down payment assistance, LMCU's MSHDA program will allow a buyer to purchase a primary residence with as little as 1% down and receive assistance to help pay closing costs. This is a permanent program. In general, it is eligible to buyers who have not owned a home in the last three years; however homes located in designated "targeted" areas will allow for repeat purchasers to qualify.
MSHDA can be more affordable than renting! Since the $10,000 assistance will help with down payment and closing costs, you may be able to buy for less than a security deposit and first month's rent. Utilizing MSHDA will help build generational wealth that only homeownership can provide.
Review the "Benefits of Down Payment Assistance" total cost analysis to see how MSHDA can compare to renting or buying without down payment assistance.