Series 2023 Single Family Mortgage Revenue Bond Program
The Series 2023 Single Family Mortgage Revenue Bond Program is for first-time homebuyers with a minimum credit score of 640 who meet the income limits in the Program Guidelines. It includes a 30-year, fixed rate mortgage, and a 5-year forgivable second mortgage, with 0% interest, to assist with down payment and closing costs. This program can be combined with the Heroes to Homeowners program for borrowers who qualify.
30-year, fixed rate first mortgages for First Time Homebuyers:
- FHA, VA, or USDA mortgage rate: 6.20%
- Freddie Mac or Fannie Mae mortgage rate: 6.42%
- 4% down payment assistance provided to borrower(s) in the form of a 0% interest, deferred second mortgage
- Forgiven after 5 years
- Please refer to Program Guidelines for income limits
Servicer: Standard Mortgage Corporation
Program Administrator: Jefferson Parish Finance Authority
Series 2023 Single Family Mortgage Revenue Bond Program may be combined with our Heroes to Homeowners program.
Requirements
Credit Score
Minimum for all loan types:
640
Income Limits
Variable:
Calculated per Program Guidelines
Income is calculated per Agency guidelines.
Location Requirements
Approved Locations:
Jefferson Parish
St. Tammany Parish
Additional Information
Program Guidelines and Exhibits for participating lenders are coming soon!
Borrowers: Contact a Lender To Apply
JPFA does not accept applications for the programs we offer. In order to apply for the Series 2023 Single Family Mortgage Revenue Bond program, you need to go through a qualified lender.
Lenders: Become a Qualified Lender for the Series 2023 Single Family Mortgage Revenue Bond Program
Looking to become a qualified lender for the Series 2023 Single Family Mortgage Revenue Bond program?