The launch of the Project Home Ownership Opportunities Program (HOOP) was announced April 4, at Jackson State University’s College of Business. The program, a collaborative effort between Freddie Mac, Trustmark National Bank, The Jackson Metro Housing Partnership, The Voice of Calvary Ministries, West Jackson CDC, and the university will allow the 1,400 employees of the university to purchase newly renovated homes in the Washington Addition area. Some of these homebuyers will even qualify for a reduced interest rate.
Mayor Harvey Johnson, Jr. said it was important to have a home buying program like this because homeownership in the City of Jackson is not only below average in the nation, but in the state as well. He also stated that he was excited he had finally found an institution that was eligible for the program.
“This is the third time we have tried to make this program work in the city and I think we have finally found a perfect fit,” Johnson said. “This program will allow for down payment assistance, counseling, and housing education. We are thrilled to be a part of the Workforce Home Benefit initiative.” Johnson added that the program along with Jackson’s efforts to revitalize and increase the housing stock, particularly in West Jackson, will boost homeownership in Jackson.