Louisiana Bond Money Available to West Bank Home Buyers

Good news for home buyers on the West Bank of New Orleans!  The state of Louisiana has issued bond money that can help reduce the amount of cash you need to purchase your next home.

With a little assistance from the seller, you may be able to move into your next home with minimal cash out of your own pocket, allowing you to keep some of your funds in reserve for improvements or repairs as they are needed.

Of course, you need to read and understand the fine print of any loan program!

• The current interest rate for bond money loans is 6.625%
• The bond assistance equals 4% of the mortgage amount and can be applied to your down payment and/or closing costs
• Bond regulations require you to owner occupy the home for 8 years or a portion of the assistance must be repaid upon the sale or rental of the property
• Income limits apply based on the location of the property and the number of members in your household

Interested in learning more about Louisiana bond loan programs?  Contact Lisa Heindel for a referral to a local lender who is well versed in all of the state and parish bond issues.   Let’s get to work on your next home today!

Copyright 2008.  Lisa Heindel and West Bank Living.  All rights reserved.