Louisiana State Bond Money Now Available for New Orleans Home Buyers

Louisiana state bond money available for New Orleans home buyers

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.

Comments or Questions? Go!