News

JP Finance Authority Launches Homeowner Grant for Teachers & Education Professionals

The Jefferson Parish Finance Authority (JPFA) celebrates National Homeownership Month this June by announcing the launch of Heroes to Homeowners, a new $2500 grant now available for all teachers, education professionals, and first responders, including but not limited to police and fire who wish to purchase a home in Jefferson Parish. The JPFA is proud to offer this grant to help those who provide safety, service and education to benefit our community and become the homeowners they have always dreamed to be.

This $2500 is a true grant, with no repayment required. The purchased property must be located in Jefferson Parish and at least one borrower on the loan must qualify as a teacher, educational professional and/or first responder. The JPFA’s down payment assistance programs must provide the financing; the $2500 is applied as additional down payment assistance.

The programs at the JPFA are available to first time and repeat homebuyers. The JPFA offers the Southern Mortgage Assistance Program, which features 30 year, fixed rate FHA, VA, and Rural Development loan options with a 3% or 4% down payment assistance levels. In addition, the JPFA also offers the Lagniappe Advantage Program.

The Lagniappe Advantage Program features a conventional loan option through Freddie Mac’s HFA Advantage Mortgage. This program offers a 0%, 3% or 4% down payment assistance option, with discounted mortgage insurance and NO INCOME LIMITS. The Lagniappe Advantage Program offers new affordable subsidies of up to $2500 to qualified lower-income borrowers to ensure that homeownership is a true possibility.

“The JPFA programs can be a fit for first time home buyers as well as those who have owned a home. Implementing Heroes to Homeowners will allow teachers and first responders to couple a $2500 grant with one of our programs that may also offer additional subsidies as well as down payment assistance. The key is to reach a larger market of potential homeowners, and this June, for National Homeownership Month, the JPFA is adding a little extra focus to those who dedicate their careers to safety and education services within our community,” said Valerie Brolin, JPFA Executive Director.

For more details on the Heroes to Homeowners grant, a list of qualifying occupations, and all programs offered by the JPFA, visit www.jpfinanceauthority.com. Here you can review the terms and qualifying factors for each program as well as daily interest rates. The JPFA looks forward to a bright and prosperous future for housing in Jefferson Parish.