Louisiana State Bond Money for Home Buyers
Good news for homebuyers in the metro area – there is now Louisiana state bond money available to assist with home purchases anywhere in the state.
From our friends at Standard Mortgage:
STATE BOND PROGRAM
PRICING: Based on current market rate, 0% origination fees, 0% discount fees
ASSISTANCE: 3% (based on loan amount)
INCOME LIMITS: $69,345 (Orleans, Jefferson and St. Tammany Parishes)
PURCHASE PRICE LIMITS:
- FHA (Orleans and Jefferson) $287,500
- FHA (St Tammany) $271,050
- VA (All parishes) $417,000
- RD (All parishes) No limit
THE RULES FOR QUALIFYING:
- Credit score of 640 or above
- Limited to FHA, VA or RD loans
- Single family homes only
- Do not need to be a first time home buyer
- Assistance is a grant and does not need to be repaid
- Must occupy the home as your primary residence within 60 days of closing
If you are interested in applying for the state bond program, don’t delay – when the money is gone, it’s gone!
Call us at (504) 327-5303 and we will get you in touch with an experienced lender right away.