JEFFERSON PARISH FINANCE AUTHORITY INTRODUCES SINGLE FAMILY MORTGAGE REVENUE BOND PROGRAM TO FIRST-TIME HOMEBUYERS
JEFFERSON, LA, UNITED STATES, February 6, 2024 /EINPresswire.com/ -- The Jefferson Parish Finance Authority1 is pleased to announce the closing of its first bond program since 2009. The Series 2023 Single Family Mortgage Revenue Bond Program is now available to qualifying first-time homebuyers who want to purchase a home in Jefferson Parish and need assistance funding their down payment and closing costs.
“We are all very excited to be able to offer a great rate and some grant money to citizens of Jefferson Parish,” said Jefferson Parish Finance Authority Chairman Gregory Faia2. “It has been a long time since public bond issues have been available and we hope to welcome some new young families to our parish.”
Homebuyers can receive a fixed rate of 6.20% for FHA, VA, and USDA loans and a fixed rate of 6.42% for Fannie Mae and Freddie Mac loans on the first mortgage. The assistance is 4% of the final note amount and in the form a 0% interest soft second mortgage that is fully forgiven after 5 years. The Series 2023 Single Family Mortgage Revenue Bond Program can be combined with the Authority’s $2,500 Heroes to Homeowners grant that is available to education and healthcare employees, first responders, and active or former military members.
“Higher interest rates, the cost of homeowner’s insurance, and an increase in cost of living in general has been a concern for potential homebuyers,” said Finance Authority Executive Director Lauren Ruppel. “The Authority’s mission is to help make dreams of homeownership come true by offering a competitive program to aid in making a home purchase a reality for individuals and families in our community.”
To learn more about the Series 2023 Single Family Mortgage Revenue Bond Program or how to become a participating lender,
visit www.jpfinanceauthority.com or call (504) 726-6311.
For more information about Jefferson Parish, visit www.JeffParish.net. Residents can also receive regular updates by following the parish on social media (@JeffParishGov) or by texting JPALERT or JPNOTICIAS to 888-777.
###
“We are all very excited to be able to offer a great rate and some grant money to citizens of Jefferson Parish,” said Jefferson Parish Finance Authority Chairman Gregory Faia2. “It has been a long time since public bond issues have been available and we hope to welcome some new young families to our parish.”
Homebuyers can receive a fixed rate of 6.20% for FHA, VA, and USDA loans and a fixed rate of 6.42% for Fannie Mae and Freddie Mac loans on the first mortgage. The assistance is 4% of the final note amount and in the form a 0% interest soft second mortgage that is fully forgiven after 5 years. The Series 2023 Single Family Mortgage Revenue Bond Program can be combined with the Authority’s $2,500 Heroes to Homeowners grant that is available to education and healthcare employees, first responders, and active or former military members.
“Higher interest rates, the cost of homeowner’s insurance, and an increase in cost of living in general has been a concern for potential homebuyers,” said Finance Authority Executive Director Lauren Ruppel. “The Authority’s mission is to help make dreams of homeownership come true by offering a competitive program to aid in making a home purchase a reality for individuals and families in our community.”
To learn more about the Series 2023 Single Family Mortgage Revenue Bond Program or how to become a participating lender,
visit www.jpfinanceauthority.com or call (504) 726-6311.
For more information about Jefferson Parish, visit www.JeffParish.net. Residents can also receive regular updates by following the parish on social media (@JeffParishGov) or by texting JPALERT or JPNOTICIAS to 888-777.
###
Rachel Strassel
Jefferson Parish Government
+1 504-736-6410
email us here
Visit us on social media:
Facebook
Twitter
Instagram
1 http://jpfinanceauthority.com/
2 http://jpfinanceauthority.com/board/mr-gregory-g-faia/