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Mississippi Lends You the Money Itself — Up to $400,000, One to Two Points Under Market

Mississippi runs its own mortgage lender for veterans. The Veterans' Home Purchase Board makes VA-backed loans up to $400,000 at a FIXED rate for the whole term, typically one to two points below market — 4.50% on terms of 5 to 15 years and 5.00% on 16 to 30 years as at 1 March 2026. The credit report fee is $68. The residency test has two doors: Mississippi residence immediately before entering service, OR two consecutive years of Mississippi residence before applying. Six years in the Guard or Reserve qualifies as well as active duty.

Verified August 27, 2026

What this benefit is

Mississippi runs its own mortgage lender for veterans. The Veterans' Home Purchase Board makes VA-backed loans up to $400,000 at a FIXED rate for the whole term, typically one to two points below market — 4.50% on terms of 5 to 15 years and 5.00% on 16 to 30 years as at 1 March 2026. The credit report fee is $68. The residency test has two doors: Mississippi residence immediately before entering service, OR two consecutive years of Mississippi residence before applying. Six years in the Guard or Reserve qualifies as well as active duty.

What it's worth: VA-backed loan up to $400,000, fixed at roughly 1–2 points below market

  • Maximum loan $400,000.
  • RATES AS AT 1 MARCH 2026: 4.50% for terms of 5 to 15 years; 5.00% for 16 to 30 years. Rates move — confirm with the board.
  • The rate is FIXED for the term, and typically 1–2 points below market.
  • Terms run 5 to 30 years.
  • $68 credit report fee.
  • A VA Certificate of Eligibility is required.
  • RESIDENCY HAS TWO DOORS: Mississippi residence immediately before entering military service, OR two consecutive years of Mississippi residence before applying.
  • Reserve and National Guard members with six or more years qualify, as do active-duty personnel and Guard or Reserve members on extended Title 10 duty.

Who is entitled to it

  • You are in one of the groups the board lends to.
  • Your discharge meets the board's test.
  • You are buying or refinancing a home.
  • The home is in Mississippi.

Not sure whether that describes you?

Answer a few questions about this benefit specifically — we only ask what this one actually depends on, and we stop as soon as we know.

How to claim it

  1. 1Get your VA Certificate of Eligibility first — the board will not proceed without it.
  2. 2Check which residency door you go through. Someone who left Mississippi to serve and returned still qualifies through the first one.
  3. 3Ask the board for the current rate sheet. Published rates change and the record here is dated.
  4. 4Compare against an ordinary VA loan from a bank. The board's rate is usually lower but the maximum is $400,000, which decides it in some markets.
  5. 5Guard and Reserve applicants: have the points statements showing six or more years.
Form
Loan application, Veterans' Home Purchase Board
File with
Mississippi Veterans' Home Purchase Board
Documents you will need
dd214
No renewal
Once granted it does not need renewing.
Worth knowingThe rates quoted here were current at 1 March 2026. Treat them as the shape of the offer and get the day's figure from the board.

Sources

This finder provides an informational match, not a government eligibility determination. The responsible agency decides your application.