Jefferson Parish now offering Zero Percent down payment assistance
Published on 09/28/18 by Tara Theriot Landry
Across the nation, Housing Finance Authorities (HFA) like the Jefferson Parish Finance Authority offer down payment assistance programs and are now beginning to implement a zero (0%) percent down payment assistance option. With the zero (0%) option, borrowers forgo the usual 3% or 4% down payment assistance given in the form of a grant at the closing table and opt of a lower interest rate.
With this option, a borrower who may have the cash to get to the closing table, but perhaps lacks tip-top credit, could qualify for a mortgage interest rate lower than they could obtain at any other bank or lender. In addition to their preferred pricing, HFAs like the Jefferson Parish Finance Authority can also offer discounted mortgage insurance rates and additional subsidies, placing people in homes with the most affordable monthly note possible.
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