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.
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
Comfort of Home may be combined with our Heroes to Homeowners and Welcome to Jefferson programs.
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
Credit Score
FHA, VA, and USDA Loans:
At least 640
Fannie Mae and Freddie Mac:
At least 640
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.
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.
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.
Lenders: Become a Qualified Lender for the Comfort of Home Program
Looking to become a qualified lender for the Comfort of Home program?