Mississippi has a little-known program called the Veterans Home Purchase Board, which offers home loans to Mississippi veterans, current active-duty members, Reservists, or Mississippi National Guardsmen.
Here are some quick facts:
· You must have a VA certificate.
· You must have over 6 years of service.
· You must be a Mississippi resident.
· The property being purchased must be a single-family residence in the state of Mississippi.
· The loan-to-value ratio is 100%.
· All loans are serviced and will remain with the Purchase Board.
It may sound too good to be true, but it isn't. According to their website, "The Mississippi Legislature established the Veterans' Home Purchase Board (VHPB) in 1936 as a state agency for the purpose of rehabilitating and rewarding the state's veterans by making mortgage loan money available to them, often at a rate lower than the rate charged by private sector mortgage companies. Because of the constitutional prohibition against the state's loaning its credit in aid of any person (MISS. CONST. of 1890, art 14, Section 258), the VHPB purchases the property from the seller and then resells the property on credit to the veteran purchaser. In all other respects, the agency operates as a traditional mortgage company.
The Veterans' Home Purchase Board provides money in the form of a VA guaranteed home purchase loan to the veterans of Mississippi as thanks for their sacrifice and service to our country and this state. This benefit to the veteran costs the state nothing."
I actually used this service myself for the home I currently reside in!
Full link to board <here>
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Kaitlyn “k8” McLaughlin
Realtor
Dunn Deal Properties
228-348-1473
This is great information for our gulf coast veterans, thank you Kait.
Thank you for sharing this valuable information.