[StBernard] St. Bernard Parish Home Mortgage Authority Soft Second Mortgage Program

[Westley Annis]

St. Bernard Parish Home Mortgage Authority Soft Second Mortgage Program

The Pathway to Homeownership is closer than you think

 

The St. Bernard Parish Home Mortgage Authority is taking applications for a
CDBG Soft Second Mortgage Program that offers Homebuyer's a soft second loan
of 20 percent of the purchase price up to $30,000 and 0% interest rate and
no monthly payments a grant of up to $5,000 for closing costs and down
payment assistance on a need basis.

 

The soft second mortgage will be forgiven after the Homeowner has met the
requirements of the Program and has lived in the home for five (5) years.

 

Maximum Purchase Price - $200,000.00

 

Minimum Required Homebuyer Investment

1% of Purchase Price or $1,000, whichever is greater

 

Eligible Borrowers

 

.         First time homebuyers with annual household incomes at or below
120% area median income (per Metropolitan Statistical Area data) who are
purchasing a principal residence in St. Bernard Parish.

.         An individual who has had no ownership in a principal residence
during the 3-year period ending on the date of purchase of the property.
This includes a spouse (if either meets the above test, they are considered
first-time homebuyers).

.         A single parent who has only owned with a former spouse while
married.

.         An individual who is a displaced homemaker and has only owned with
a spouse

 

Homebuyer Education Required

 

Applications being accepted at

 

Gulf Coast Bank & Trust Company

Pam Mc Laurin (504) 561-1307

Shawn M. Rogers (504) 599-5746

Dana Hock Blondiau (504) 599-5742

 

First NBC Bank

Bernadette Johnson (504) 671-3452

Patty Daigle (504) 671-3466

 

FBT Mortgage, LLC

Connye M. Bauer (504) 579-2363