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-12-06-2024
Mortgage Rate Borrower Assistance Type of Loan Income Restrictions
Government Loans
6.750% 0.00% FHA, VA, USDA ≤ $121,520
7.250% 2.00% FHA, VA, USDA ≤ $121,250
7.625% 3.00% FHA, VA, USDA ≤ $121,520
7.750% 4.00% FHA, VA, USDA ≤ $121,520
Conventional Loans
6.875% 0.00% Fannie Mae OR Freddie Mac ≤ $69,440
7.250% 2.00% Fannie Mae OR Freddie Mac ≤ $69,440
7.375% 3.00% Fannie Mae OR Freddie Mac ≤ $69,440
7.750% 4.00% Fannie Mae OR Freddie Mac ≤ $69,440
7.250% 0.00% Fannie Mae ≤ $121,520
7.375% 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!