Jefferson Parish has just announded its first Bond Issue of 2010. The rates are very reasonable. You can use these funds to pay for closing costs and pre-paids. Now is the time to check to see if this is for you.
| Jefferson Parish has just come out with the details of the latest Bond issue for Jan 2010. Seem like a great deal if you need some assistance. It can be used with FHA, Conventional Loan, Va for homes or condos. This can be used with the $8000 tax credit, you can get both. Need not be a first time buyer to qualify for Jefferson Parish Bond Money.
Why think about this? Need help with closing then you may want to think about it. On a two hundred thousand dollar loan its $6000 of you closing paid for you. Then get the $8000 credit on your taxes. The amount of money is limited so think early. Need an accepted contract to lock in your rates. Best deal in several years.
With the Jefferson Parish bond money you are able to use the 4% as part of your down payment. Using FHA along with sellers concessions you are in with little money down.
Not all lenders will be offering this. Give yourself another week when using bond money as it will need an additional approval.
5.35% Interest Rate for 30 years
4% Assistance for closing costs and or prepaids
Family of 2 or less $71,760
Family of 3 or more $83,720
$316,177 Single family only
Julie Baudier is the Standard Mortgage person who I use for my clients. She knows all about the bond money. She works for Standard Mortgage and can be reached at 504-583-1793.