Congratulations! Investing in a home is a significant milestone in your life and likely to be your biggest financial commitment, as well as a commitment to your future and quality of life. Taking the steps toward home ownership can be overwhelming, but we’re here to help!

The Jefferson Parish Finance Authority has options for potential homebuyers that include up to 4% in down payment grant assistance, discounted mortgage insurance, and much more.

So, please, don’t let lack of down payment savings or intimidating totals for closing costs stop you from purchasing the home you’ve always wanted. JPFA has solutions for you.

Our programs and funding are immediately available for use. Take a look at our options and details listed below and to find out if you qualify, contact one of JPFA’s approved lenders listed here on our site.

 

Overview:

The JPFA is proud to offer a competitive 30-year fixed rate mortgage with a Down Payment Assistance (DPA) Grant equal to:

  1. 3% or 4% of the loan amount to qualifying homebuyers for FHA, VA, or RHS loans; or
  2. 3% of the loan amount to qualifying home buyers for a Freddie Mac HFA Advantage Loan

Program Rate:

The mortgage rates for our program are slightly above market rate depending on the choice for level of assistance. Our rates are published daily here:

3% Assisted FHA, VA, RHS

4% Assisted FHA, VA, RHS

3% Assisted Freddie Mac HFA Advantage Loan

Are you eligible?

Minimum Credit Score: 640

Income Limits:

FHA, VA, RHS

$72,795 (115% of HUD Median Income)

Freddie Mac HFA Advantage Loan

$99,000

Is the home of your choice eligible?

Home Purchase Price Limits:

FHA

$275,665

VA

$424,100

RHS

No Limit

Freddie Mac HFA Advantage Loan

$424,100

 

Residence Types Permitted

Residence Types Excluded

VA

$424,100

RHS

No Limit

Freddie Mac HFA Advantage Loan

$424,100

Please note that both new and existing construction is permitted, and the home must be occupied as the borrower(s) principal and permanent residence within 60 days of closing.

Homeownership Education

FHA, VA, RHS

Not Required

Freddie Mac HFA Advantage Loan

When all borrowers are first time homebuyers, at least one homebuyer is required to have completed a homeownership education program.

Participating lenders will oversee homeownership education as part of the qualification process.

Participating Lenders

For a listing of participating lenders, click here.