During a time when mortgage rates are continually hitting new record lows it is the ultimate time to buy a home. However for many the barriers to home ownership are usually the costs associated with the down payment and closing costs. That is why there is always such high interest in first time home buyer programs.
Jefferson Parish has just opened the 2020 First Time Homebuyer Assistance Program. This is an incredible opportunity for lower income individuals to make the leap into home ownership.
The program is part of the U.S. Department of Housing and Urban Development's "HOME Program" fund. It is a part of the federal funding designated for people looking to buy their first home in Jefferson Parish.
Qualified homebuyers can receive up to $50,000 to buy a home in Jefferson Parish, including the unincorporated Kenner, and up to $60,000 per applicant in the City of Kenner excluding the unincorporated Kenner.
To qualify, applicants must meet the low-income guidelines and attend two classes: "The First Time Homebuyer Training Class" and "Financial Fitness Class".
Depending on the amount of funds received the homebuyer will be expected to maintain primary residence in the purchased home for anywhere between 5 to 15 years in order to the funds provided in the assistance program recaptured.
To learn more about this incredible opportunity head on over to the Jefferson Parish website here and here.
Lender approved applicants can submit their application for funds here.