Utilizing its public-private collaboration as a catalyst for change, MHP quickly recognized that a major barrier to improved housing was the city’s relatively low homeownership rate.

Welcome to Mississippi Housing Partnership

The Mississippi Housing Partnership (formerly Jackson Metro Housing Partnership) is a private, 501(c)3 non-profit housing corporation founded in November 1991 with a mission to provide safe, decent and affordable housing for low and moderate income residents of the city of Jackson, Mississippi. A public-private partnership between city government, local financial institutions, two public utilities and community-based groups, MHP’s original mission also included serving as an umbrella organization for coordinating the efforts of all non-profit housing entities operating within the capitol city.

As a result, a financing mechanism was created which allowed for increased homeownership among lower income families and consequently aided in the stabilization of various communities while strengthening the city’s weakening tax base. This was carried out via MHP’s First-Time Homebuyer Program where approximately 430 families have realized the dream of homeownership.

The program, which remains in operation today, permits MHP to leverage public dollars allocated by the city of Jackson to provide low-interest, second mortgage financing with first mortgage loans offered by a local bank. This concept makes the combined loans more affordable since MHP provides 30% of the overall financing at a 2% interest rate for a 25-year term. The participating bank does 70% of the financing and thus is the reasoning behind their first mortgage position. In some cases, purchasers are also eligible for up to $4,000.00 in down payment and closing costs assistance via Federal Home Loan Bank funds.