NEW Soft Second Program In St Tammany Parish

NEW Soft Second Program In St Tammany Parish



NEW Soft Second program in St. Tammany Parish, 100% Financing available! 

It's a GREAT opportunity to buy a home in St. Tammany Parish with no money down. Plus, they will give you up to $35,000 towards the purchase of your new home. Below are the details on this program. To find out more on how to take advatage of this great opportunity please call me today 985-778-2525.

Below is the breakdown.

Assistance: A Soft Second Loan of 20% of the purchase price up to $30,000 and up to $5,000 per borrower for Closing Costs fro a total of $35,000

Minimum Homebuyer Investment: 1% of Purchase Price or $1,000, whichever is greater

Type of Eligible Units: New/Existing residential 1 & 2 Units in St. Tammany Parish

Maximum Purchase Price: $200,000

First Mortgage Rate: Normal mortgage rates

Second Mortgage Rate: 0.00%; No Monthly Payment

Soft Second Payment Requirement: Repayment as follows full upon sale or refinance:
                                                       0 - 3 Years:                100% of Soft Second Loan
                                                       3 - 4 Years:                80% of Soft Second Loan
                                                       4 - 5 Years:                60% of Soft Second Loan
                                                       After 5 Years:             $0 due

First Mortgage Loan Type:  FHA, VA or Conventional

Credit Score: Minimum credit score of 640

Closing Costs and Down Payment Assistance: The Closing Costs Assistance limit is $5,000. The $5,000 can include funding for prepaids (homeowners insurance, flood insurance, mortgage insurance premium, and taxes) and other customary costs associated with closing a real estate transaction.  Advance payments for Homeowners, Flood Insurance, and Taxes are limited to 24 months of premiums.

Eligible Borrowers: First time homebuyers with annual household incomes at or below 120% are median income. A first-time homebuyer is an individual who meets any one of the following criteria: 
 - An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time homebuyers).
- A single parent who has only owned with a  former spouse while married
- An individual who is a displaced homemaker and has only owned with a spouse.

Household Income Limits: Income Limits will be adjusted annually according to HUD MSA publications.

                                                     Household Size                 Income Limit
                                                                1                              $50,640
                                                                2                              $57,840
                                                                3                              $65,160
                                                                4                              $72,360
                                                                5                              $78,120
                                                                6                              $83,880
                                                                7                              $89,760
                                                                8                              $95,520


PLEASE CALL US TODAY FOR MORE DETAILS 985-778-2525.


Tiffani Robin Headshot
Author:
Phone: 504-339-6999
Dated: December 10th 2013
Views: 13,798
About Tiffani: Tiffani is the CEO of The Robin Realty Group sponsored by Keller Williams Realty Services located in...

1 Response

  1. Doinca1

    Hello, I have a credit score of 620 I'm working with Lextington law to build my score up can I applied for the program. doinca1@gmail.com

    Aug.07.2014

Property Search









Chat with us now!

A real live chat operator is online now! We can immediately get your questions answered or make sure we get it to an agent who can.


RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Home Staging Tip Tidy That Kitchen - Tiffani Robin here with the Robin Gr
Robin Realty LOOKING FOR TALENT - NOW HIRING! Please share ...........
Showing Assistants Needed - Looking for 2 agents willing to work
Robin Realty Group Named Best Realtors On The Northshore - Wow what an honor. As I open the mag

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Keller Williams Realty Services
1011 N Causeway Blvd. Suite 15
Mandeville, LA
985-231-4419
985-727-7001