House bought with this specific program need to be during the Louisiana, and you may consumers need at least credit history from 640

Designed for basic-day homebuyers whose domestic money is 80 percent of one’s town median money (AMI) or quicker, the borrowed funds Cash Bond (MRB) Program offers advance payment and you can closing costs guidelines, together with lower rates. The latest downpayment and closing prices direction selections out of 5 percent so you can nine %, which is according to research by the loan dominant.

Home loan Funds Bond Aided Program

To not ever feel mistaken for the loan Revenue Bond System, the loan Revenue Bond Aided System will also help earliest-time homebuyers just who may not have sufficient money to possess a down commission otherwise closing costs. Although not, in place of the loan Funds Bond System, the interest rates in the Home loan Revenue Thread Aided System is actually just like industry rates, there is exclusions for the limitations of one’s program. Continue Reading