Jefferson Parish FA Program Highlights

Jefferson Parish FA, Comfort of Home | At-A-Glance

Jefferson Parish FA, Comfort of Home | At-A-Glance

AVAILABLE PROGRAMS Comfort of Home
ELLIGIBLE AREA Jefferson, St. Tammany, St. Charles, St. Bernard and Plaquemines Parishes
ELIGIBLE BORROWER(S) No first-time buyer requirement
RATES See Chart
DPA AVAILABLE See Chart
LOAN TYPE See Chart
INCOME LIMITS Income Limits
PURCHASE LIMITS There are no purchase price limits in this program. Follow Agency (FHA, USDA-RD, VA and Freddie Mac) guidelines for maximum loan limits.
TIMELINE REQUIREMENTS 70 days from Reservation to Loan Purchase. Underwriter Certification any time prior to closing.
HOMEBUYER EDUCATION Homebuyer Education
CO-SIGNORS Co-Signer and Non-Occupant Co-Borrowers are permitted by the program subject to the Lender following all applicable loan agency and US Bank guidelines.
PROGRAM GUIDELINES Guidelines
PARTICIPATING LENDERS Participating Lenders

Today’s Rates & Offerings [ Business Days 9:00am – 7:00pm CT ]

Jefferson Parish FA, Comfort of Home | Rates & Offerings

GOVERNMENT

Jefferson Parish Finance Authority Comfort of Home Program


FHA, VA, USDA-RD


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income Limits
  • No Purchase price limits (Use Agency loan limits)
  • 70 calendar days from loan reservation to loan purchase (Underwriter Certification 15 calendar days)
  • 1003 Credit qualifying income
  • Assistance offered as 0% Interest, 15-year deferred Second Mortgage (never forgiven)
  • Assistance is a percentage of the total (include MIP) Note amount
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for FHA and VA 660
  • Eligible area: Jefferson, St. Tammany, St. Charles, St. Bernard and Plaquemines Parishes

Offering FICO DPA Lock Rate
FHA, VA, USDA 660 0% 6.750%
2% 7.125%
3% 7.625%
4% 8.125%
5% n/a
Conventional – 80% AMI (Fannie and Freddie)

Jefferson Parish Finance Authority Comfort of Home Program


Fannie Mae HFA Preferred and Freddie Mac HFA Advantage


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income Limits may not exceed 80% AMI (determined by Fannie Mae and Freddie Mac) in order to receive reduced mortgage insurance
  • No Purchase price limits (Use Agency loan limits)
  • 70 calendar days from loan reservation to loan purchase (Underwriter Certification 15 calendar days)
  • 1003 Credit qualifying income
  • Assistance offered as 0% Interest, 15-year deferred Second Mortgage (never forgiven)
  • Assistance is a percentage of the total (include MIP) Note amount
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for FHA and VA 660
  • Minimum FICO for Fannie Mae and Freddie Mac 640
  • Eligible area: Jefferson, St. Tammany, St. Charles, St. Bernard and Plaquemines Parishes

Offering FICO DPA Lock Rate
Fannie Mae 80% AMI
Freddie Mac 80% AMI 		640 0% 7.000%
2% 7.375%
3% 8.000%
4% n/a
Conventional – Over 80% AMI (Fannie)

Jefferson Parish Finance Authority Comfort of Home Program


Fannie Mae HFA Advantage


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income Limits (borrowers will receive standard mortgage insurance)
  • No Purchase price limits (Use Agency loan limits)
  • 70 calendar days from loan reservation to loan purchase (Underwriter Certification 15 calendar days)
  • 1003 Credit qualifying income
  • Assistance offered as 0% Interest, 15-year deferred Second Mortgage (never forgiven)
  • Assistance is a percentage of the total (include MIP) Note amount
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for FHA and VA 660
  • Minimum FICO for Fannie Mae and Freddie Mac 640
  • Eligible area: Jefferson, St. Tammany, St. Charles, St. Bernard and Plaquemines Parishes

Offering FICO DPA Lock Rate
Fannie Mae OVER 80% AMI 640 0% 7.250%
2% 8.000%
3% n/a