REACH Mississippi is part of the Gulf Coast Renaissance Corporation’s comprehensive framework to address impediments to the rebuilding process by providing gap financing directly to individuals or families that make up the workforce of South Mississippi. REACH is patterned after a model employer-assisted housing program in Illinois.
Renaissance assists employers in setting up Employer Assisted Housing (EAH) programs and designated community partners guide employees step-by-step through the application and home buying processes.
Through participating employers’ programs, qualified workers will be offered contributions to help purchase homes. These funds will be a second mortgage on the home - typically forgivable over a period of employment.
Under REACH, employees earning less than 120 percent of the area median income may then qualify for matching funds to further offset the costs of homeownership. This third interest-free mortgage will be silent (no monthly payments), coming due only when the home is sold or refinanced.
*The availability of State and Renaissance funds to qualified home buyers is limited and subject to availability at the time the request is received.
Click Here to see if you could qualify for REACH matching funds with our Income Calculator
Prepare for homeownership with step-by-step guidance from trained counselors
Partnership At Its Best
Gulf Coast Renaissance Corporation is the program sponsor - helping employers develop EAH programs, providing training and support for REACH partner organizations, tracking outcomes and recycling funds back through the program. Renaissance will provide matching funds to REACH-qualified applicants. Community Partners educate and guide employees step-by-step through the process.
Employers establish internal EAH programs and work with Community Partners to ensure employees get the required counseling.
Income Limits
To qualify for REACH funds, employees must earn less than 120 percent of the area median income for the area in which they wish to purchase a home.
2009 maximum qualifying incomes (120% AMI) based on household size:
COUNTY
MEDIAN INCOME
1 PERSON
2 PEOPLE
3 PEOPLE
4 PEOPLE
5 PEOPLE
6 PEOPLE
7 PEOPLE
8 PEOPLE
Hancock, Harrison, and Stone
$51,800
$43,500
$49,750
$55,950
$62,150
$67,150
$72,100
$77,100
$82,050
Jackson and George
$55,000
$46,200
$52,800
$59,400
$66,000
$71,300
$76,550
$81,850
$87,100
Pearl River
$45,500
$38,200
$43,700
$49,150
$54,600
$59,000
$63,350
$67,700
$72,050
How To Qualify
Employees can check with their human resources department to see if their company has an EAH program. Program requirements and contribution amounts may vary from company to company, but the requirements for REACH matching funds will remain the same: the employee must meet income requirements, purchase a home in George, Hancock, Harrison, Jackson, Pearl River or Stone County and meet other defined program requirements.
Workers who meet other requirements, but do not have an EAH program can contact Renaissance for more information on how to qualify for REACH.
Equal Housing Opportunity Statement:
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
