Comfort of Home

The Comfort of Home program involves a 30-year, fixed rate first mortgage, as well as a forgivable second mortgage, with 0% interest, to provide downpayment and closing cost assistance. This program is appropriate for borrowers with a moderate-to-good credit score, a moderate debt-to-income ratio, and moderate-to-high household income.

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Program Highlights

30-year, fixed rate first mortgages

  • FHA, VA, USDA, Freddie Mac HFA Advantage, or Fannie Mae HFA Preferred
  • Limited 203(k) Mortgage (FHA)

Up to 4% down payment and closing cost assistance provided to borrower(s) in form of second mortgage

  • Assistance is in the form of a 0% interest, deferred second mortgage
  • Forgiven after 5 years

Servicer: US Bank

Program Administrator: eHousing

Rates

First mortgage rates are at fixed rates determined by the loan agreement, including FHA, VA, USDA, Freddie Mac HFA Advantage or Fannie Mae HFA Preferred, but will be a Limited 203(k) Mortgage (FHA).
JPFA-COH-Interest-Rate-Notice-05-24-2024
Mortgage Rate Borrower Assistance Type of Loan Income Restrictions
Government Loans
7.125% 0.00% FHA, VA, USDA ≤ $121,520
7.625% 2.00% FHA, VA, USDA ≤ $121,250
7.750% 3.00% FHA, VA, USDA ≤ $121,520
8.000% 4.00% FHA, VA, USDA ≤ $121,520
Conventional Loans
7.250% 0.00% Fannie Mae OR Freddie Mac ≤ $69,440
7.750% 2.00% Fannie Mae OR Freddie Mac ≤ $69,440
7.875% 3.00% Fannie Mae OR Freddie Mac ≤ $69,440
8.375% 4.00% Fannie Mae OR Freddie Mac ≤ $69,440
7.375% 0.00% Fannie Mae ≤ $121,520
7.875% 2.00% Fannie Mae ≤ $121,520

Requirements

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Credit Score

FHA, VA, and USDA Loans:
At least 640

Fannie Mae and Freddie Mac:
At least 640

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Income Limits

FHA, USDA_RHD, VA, and Fannie Mae HFA Preferred:
Less than $121,520

Income is calculated per Agency guidelines.

Fannie Mae HFA Preferred and Freddie Mac HFA Advantage:
Less than $69,440

Income is calculated per Agency guidelines.

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Location Requirements

Approved Locations:

  • Jefferson Parish
  • St. Charles Parish
  • St. Tammany Parish
  • St. Bernard Parish
  • Plaquemines Parish

Additional Information

Comfort of Home can apply to both home purchases and home refinances. Both first-time and repeat borrowers may qualify. The Comfort of Home program can be combined with the Heroes to Homeowners grant available in Jefferson Parish only.

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Borrowers: Contact a Lender To Apply

JPFA does not accept applications for the programs we offer. In order to apply for the Comfort of Home program, you need to go through a qualified lender.

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Lenders: Become a Qualified Lender for the Comfort of Home Program

Looking to become a qualified lender for the Comfort of Home program?

Our bond program is now open for reservations! Visit the program page to learn more and apply!

The Comfort of Home Program's second loan term has been reduced from 15 years to 5 years effective 3.25.24!

The JPFA office will be closed on Monday, May 27, 2024, in observance of Memorial Day.