The Jefferson Parish Finance Authority (JPFA) has launched its Series 2025A Single Family Mortgage Revenue Bond Program to assist prospective homeowners in Jefferson Parish. The program provides down payment and closing cost assistance to first-time homebuyers, with exemptions for veterans and buyers in targeted census tracts where the first-time requirement does not apply, according to a recent announcement on the Jefferson Parish government website.
Borrowers can obtain a fixed interest rate of 6.54% for FHA, VA, and USDA loans, and 6.79% for Fannie Mae and Freddie Mac loans. Assistance is offered as a 4% zero-interest soft second mortgage, which is forgiven after five years. Lauren Ruppel, JPFA Executive Director, stated in the announcement that the organization works with local realtors and lenders to inform residents of available programs.
The Series 2025A program can be combined with the JPFA’s $2,500 Heroes to Homeowners grant for education and healthcare workers, first responders, and military personnel. This initiative seeks to reduce financial barriers for eligible homebuyers.
More information on eligibility and application procedures is available on the Jefferson Parish government website or through participating lenders.
