Bond Money Available to New Orleans Home Buyers

    New Orleans home buying

    Home buyers have a new choice in mortgage programs with the Louisiana State Bond Program. You don’t have to be a first time home buyer to take advantage of this program, but there are income and credit score limits.

    LOUISIANA 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 one of our lenders right away.

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    Our agents write often to give you the latest insights on owning a home or property in the Greater New Orleans area.