One of the biggest barriers people tell me stops them from buying is the down payment. Many believe you need 15 or 20 percent. That myth keeps a lot of folks renting longer than necessary.
Here’s the reality. NAR’s 2025 data shows that down payments vary widely. The median down payment across all buyers is 23 percent — but that’s skewed by repeat buyers paying cash or large down payments. First-time and lower-income buyers often put down much less. National Association of Realtors+1
And if you live in Mississippi, you have statewide help available. The Mississippi Home Corporation (MHC) offers programs like Smart6 and Trusty10 — which give you $6,000 to $10,000 in down payment and closing cost assistance through a second mortgage. It can work with FHA, VA, USDA or conventional loans. Bankrate+2New American Funding+2
Smart6 does not require monthly payments — you repay only when you refinance, sell or pay off the first mortgage. For many buyers, that can make the difference between renting another year and owning now. LendingTree+1
Here’s how I help buyers with limited cash:
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We start by looking at what you actually have saved.
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We pair that with first-mortgage programs and MHC assistance to reduce upfront costs.
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We build a budget that includes down payment, closing costs, and an emergency cushion so you’re not house-poor.
You don’t have to have 20 percent. You just need a plan that fits your finances and goals.
Want to talk through what you might qualify for in Mississippi? Message me on the site and I’ll help walk you through your options.
