GULFPORT, Miss. – Renaissance Community Loan Fund officials announced this week that the nonprofit, through a $2.4 million award from NeighborWorks America, will be administering a new down payment assistance program available throughout Mississippi.
The program, entitled Project Reinvest: Homeownership, is only available for a limited time. Individuals and families who currently do not own a home and have a household income of 100% or below the Area Median Income are eligible to participate in the program.
All potential applicants seeking to receive down payment assistance must first be pre-approved for a mortgage with Renaissance or an approved lending partner. The following are approved partner lenders in the program: Renaissance Community Loan Fund; Bancorp South; Community Bank; Charter Bank Mortgage; Gulf Coast Community Federal Credit Union; HOPE Credit Union; Keesler Federal Credit Union; and FBT Mortgage.
“We are excited to provide this opportunity to those individuals and families in Mississippi who are ready to take the step towards homeownership, but need assistance in providing the down payment portion of a mortgage,” said Kimberly LaRosa, president and CEO. “The program allows Renaissance another opportunity to continue its mission of creating affordable homeownership opportunities for residents and contributing to the economy in Mississippi.
Unlike Renaissance’s other mortgage programs, Project Reinvest: Homeownership funds are available for a limited time. Interested residents are encouraged to act now by calling or visiting one of the program’s approved lenders to get started. The most current list of lenders, along with detailed program requirements, is available at www.rclfms.com.