‘Pathway to Homeownership’ Soft-Second Mortgage Loan Program
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The First Time Homebuyer Fund offers soft-second mortgage loans at zero (0%) per cent interest up
to $65,000 and a closing cost assistance grant up to $10,000 for a homebuyer who has not owned a
principal residence within the last three (3) years or no longer owns a home because of a divorce
or death of spouse. This fund serves first-time homebuyers with household incomes of 80% or less
of the metropolitan area median income (AMI) and who are purchasing homes in the | 1 person | 2 persons | 3 persons | 4 persons | 5 persons | 6 persons | 7 persons | 8 persons |
| $33,500 | $38,300 | $43,050 | $47,850 | $51,700 | $55,500 | $59,350 | $63,150 |
The borrower must also invest at least 1% of the purchase price or $1,500 from personal funds, which ever is the greater.
Homebuyers who have already received payments from the State under the “sell” or “relocate” option under the Road Home Homeownership Program are not eligible to receive additional financial assistance from this program.
To learn more about the ‘Pathway to Homeownership’ Soft-Second Mortgage Loan Program click here.
For more information please call (504) 524-5533 local or (877) 524-5533 toll free.
To fill out the pre-application, CLICK HERE.