Grant Program to help home buyers - WDAM.COM - TV 7 - News, Weather and Sports

Grant Program to help home buyers

Posted: Updated:

By Colleen Donovan - bio | email | Twitter

HATTIESBURG, MS. (WDAM) - A new grant program for residents of Forrest and Lamar counties offers $25,000 for new homebuyers.

The Home Investment Partnership Grant is available for 20 residents in both Forrest and Lamar counties. The funds are for the down payment on a home, and the recipients of those funds must meet a variety of qualifications.

They must be a U.S. citizen, not currently own a home, and make less than 80 percent of an area's median income.  Also, if you get the grant, you must live in the home for 10 years.

In Forrest County, the median income is $27,420 for a single person and $35,791 for families. In Lamar County, the median income is $37,628 for singles and $44,611 for families.

Eighty percent of those incomes would be $21,936 and $28,632 in Forrest County - $30,102 and $35,688 in Lamar County.

Owen Munton works for Prime Mortgage in Hattiesburg and spoke about the grants.

"Well this is a great opportunity that is not always available. This money goes very quickly. There are no other programs that give out this much money that are currently available," said Munton.

Munton said the funds can also be used in conjunction with the $8,000 first-time home buyers tax credit. However, the deadline to qualify for that program is the end of November.

To find out more information about this program and whether you qualify, you can contact Prime Mortgage at 601-264-1626.

©2009 WDAM. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.