Renaissance Community Loan Fund
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Grow Homeownership Mississippi

A Down Payment Assistance Program

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Who can participate in the Program?
  • An individual who is not a current homeowner & will occupy the home as his/her primary residence.
  • An individual whose total household income is either of the below:
    • 80% and below Area Median Income (AMI) OR
    • 81-100% AMI and either an African American household or property is located in a qualified census tract.

All potential applicants must first receive mortgage pre-approval from an approved lender and submit required documentation to have total household income calculated to determine the household’s AMI. Program funds are limited and subject to availability. Applicants are processed on a first come, first serve basis. Other restrictions apply.

Approved Lenders:
  • Renaissance Community Loan Fund
  • Gum Tree Mortgage

What is the process an applicant will encounter? 
  • Applicant meets with an approved lender to prequalify and submits all required documentation.
  • Lender submits the household income package to Renaissance for review.
  • Renaissance calculates household income and advises the lender of the applicant’s eligibility.
  • If eligible to proceed, applicant proceeds with lender towards home purchase.
  • Applicant attends a homebuyer education class prior to closing.
  • Lender processes required compliance package for funding approval with Renaissance.
  • Applicant closes on new home.

What are the financial benefits to the applicant?
The program offers $10,000 in down payment assistance. The funds are secured as a subordinate lien on the home which is deferred for the life of ownership. The total loan is called due upon sale, refinance of the first mortgage or when the borrower no longer occupies the home as his/her primary residence.
 
What type of real estate properties can be purchased through the Program?
  • Home must be located in the state of Mississippi. 
  • Home must be the applicant’s primary residence and owner occupied for the life of the ownership.
  • Flood insurance is required for all properties located in a flood zone.
Check Census Track
80% Area Median Income Limits
100% Area Median Income Limits
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Affiliates & Partners

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NMLS #303219
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Locations


8917 Lorraine Road
Gulfport, MS 39503


439B Katherine Drive
Flowood, MS 39232​


431 W. Main Street, Suite 400
​Tupelo, MS 38804


301 Buschman Street
Hattiesburg, MS 39401

(Satellite Office: By Appt. Only)

Hours


Monday - Thursday
8:00AM to 5:00PM
​
Friday
​8:00AM to 4:30PM

Saturday - Sunday
​CLOSED

Phone


Gulfport Office: (228) 896-3386
Hattiesburg Office: 601-203-3252​
Jackson Office: 601-519-4999
Tupelo Office: (662) 269-8999

Fax


(228) 896-3326

Email


info@rclfms.com

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Privacy Policy 
  • Home
  • About
    • The Renaissance Team
    • Board of Directors
    • 2020 Annual Report
    • Milestones
    • Committees
    • Partners
    • Riverside
  • Borrow
    • Home Mortgage
    • Grow Homeownership Mississippi
    • Home Improvement
    • Home Refinance
    • Business Lending
    • MS Development Fund
    • New Markets Tax Credit
    • Renaissance Builder & Developer Guild
    • AMI Limits
    • Mortgage Calculator
  • Classes
  • Community Impact
    • News & Blog
    • Past Newsletters
  • Support Us
    • Contribute
    • Invest
  • Contact Us
    • Locations
    • Email Sign Up
    • Employment
  • Loan Servicing