After Hurricane Zeta repairs wrapped up, Biloxi’s housing stock is tighter than at any point since 2006—only 1.9 months of inventory versus the state average of 2.8. Gulf-view condos along Beach Boulevard are trading $30-40 k above list when they hit Airbnb’s top 5 % revenue tier, a trend our appraisers now factor into comparable sales. Single-family construction permits are concentrated in North Biloxi off Popp’s Ferry Road where half-acre lots still sell for $55 k, making new-builds priced under $300 k realistic for USDA zero-down buyers. Investors should note the city’s short-term rental ordinance caps occupancy at 12 guests and requires a $200 annual permit; NMHL’s Debt-Service-Coverage-Ratio loans qualify the projected rental income at 75 % to keep your DTI healthy.

• Median DOM for sub-$250 k homes: 18 days
• Share of cash buyers: 27 % (lowest on the Coast)
• Typical appraisal variance: +2.3 %, rarely low

If you crave walkability to casinos yet need affordability, look at the small pockets between Lamey Bridge Road and the Back Bay where 1950s brick ranches sit on 0.15-acre lots. Prices hover $175-190 k, and NMHL’s FHA 203(k) can roll a $25 k renovation into one loan. Young professionals stationed at Keesler often buy in Cedar Lake where HOA dues are only $15 a month and the elementary school rates 8/10. For acreage, head north of I-10 to the Sunkist area; $225 k buys 1.2 acres zoned for horses and the commute to downtown casinos is still 17 minutes. Our first-time buyer map layers USDA-eligible zones so you can see exactly where zero-down is possible.

Historic Ocean Springs borders Biloxi on the west; prices jump roughly 12 % once you cross the bridge, so staying inside Biloxi proper stretches your approval amount.

Harrison County assesses at 15 % of true value, so a $235 k home has an assessed value of $35,250. Apply the 104.93 millage rate and you get $3,697 gross tax; homestead exemption shaves off $300 and an additional $7.20 per $100 k if you’re over 65. Veterans rated 100 % disabled are completely exempt, a benefit NMHL automatically flags at pre-approval. Wind & hail deductibles on coastal properties are typically 2 % of dwelling coverage rather than the flat $1,000 you see inland. We require insurance quotes up-front so your debt-to-income calculations stay accurate.

Beyond the statewide SmartGrow program, the City of Biloxi revived its Community Development Block Grant for 2024, offering $10 k at 0 % interest, forgiven after 10 years of owner-occupancy. Eligibility caps at 100 % HUD median ($68,900 for a family of four) and the funds pair with VA, FHA, USDA, or conventional loans. Because NMHL is an approved sub-recipient, we handle the subordination paperwork so your closing isn’t delayed. Teachers, firefighters, police, and nurses can stack the $10 k with Mississippi’s Extra Credit Program for another $7,500, bringing total assistance to $17,500—enough to cover down payment plus a chunk of closing costs on a $225 k purchase.

Self-employed borrowers using our Bank-Statement Advantage program can still receive DPA; the grant is income-based, not loan-program-based.

With Keesler Air Force Base employing 12,000 active-duty, Reserve, and tech-school students, Biloxi functions like a military town. NMHL’s VA specialists understand how flight-school BAH fluctuates by pay grade; we qualify you using the higher off-base rate even if you’re currently in dorm status. Surviving spouses with entitlement can access zero-down up to $766,550 without the funding-fee waiver hassle. Our Biloxi branch maintains a 24-hour PCS hotline—get pre-approved while still at Aviano or Lackland and we’ll lock your rate 90 days out.

Local vendors offer military discounts worth real money: Biloxi Title & Abstract chops $150 off closing costs; Gulf Coast Inspections knocks 10 % off the inspection package. We compile these into a Military Buyer Bundle that shaves roughly $800 off your cash-to-close.

Mississippi Gulf Coast casinos employ thousands of tipped workers whose income reports unevenly, leading to credit hiccups. NMHL’s Fresh-Start Portfolio accepts 550 FICO with 20 % down or 12 months of on-time rent history and 5 % gift funds. We ignore medical collections under $3,500 and count authorized-user tradelines, a lifeline for Biloxi millennials carrying parental cards. After a Chapter 7, you’re eligible one day out with 25 % equity; Chapter 13 requires 12 months of trustee payments plus court approval. Each file is manually underwritten by our Gulfport team—no algorithmic black box.

• Max debt-to-income: 50 %
• Max loan amount: $1 million
• Fixed periods: 5/1 ARM, 30-yr fixed