These are the Highlights of the MSHDA DPA Program:
Zero-interest, non-amortizing loan with no monthly payments.
Maximum assistance is $7,500.
Available with MSHDA's FHA or Rural Development first mortgage.
Funds may be used for down payment, closing costs, prepaid/escrow expenses and a home inspection performed by a licensed home inspector.
The loan is due upon sale or transfer of the property or if the first mortgage is refinanced or paid in full
I hope this answers your question. If I can be of any further assistance I'd be glad to help.