Financing in West Monroe>Question Details

Heath Osbon, Home Buyer in West Monroe, LA

Are there government aid programs set up for first time home buyers?

Asked by Heath Osbon, West Monroe, LA Tue Apr 15, 2008

Me and my fiancee are getting married this year and are looking to buy our first home. i have heard that there are government programs set up to help us afford this new adventure in life. i was hoping you would have some answers for me. thanks alot. i have picked out a house thati am very interested in. i am hoping that may help some.

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Call me or get general information on all the programs they have available, first check with the USDA Services Center in Monroe. Their office is located on the Old Sterlington Rd at 2410 Old Sterlington Rd, Monroe - (318) 343-4467. The best thing about the USDA Rural Development Loan program is that you can get Low Rates, 100% Financing and NO MIP (Mortgage Insurance Premium), this will save you a lot of money depending upon your credit scrore.

Web Reference:

Also, the Louisiana Housing Fiance Agency has specific programs, check out… , they have programs for first time home buyers and college grads that help with low interest rates and downpayment assistance, etc. If you would like help call me at 318-361-0300 (Monroe) or 318-255-5302 (Ruston) or e-mail me if you need any help.
0 votes Thank Flag Link Sun Aug 3, 2008
Bond money is the best for first time homebuyers. Check with your state, and in some, as the first person commented they will even give you an extra discount if you are in a certain profession. My state call's it Ohio's heros where if qualified, you can get into a house with a 30 year fixed at 5.625%. Not a bad deal! Good Luck!!!
0 votes Thank Flag Link Wed May 7, 2008 Here is a site that might tell you a bit more on the types of assistance available to first time home buyers. My husband and I are also first time home buyers are still waiting on the final approval. Once this happens I can and will tell you the nail bitting process it has been! I do know that any mortgage company will know how much Bond/Grant money is available or if the program is exhausted. Congrats on the engagement and soon to been commitment! Contact any realtor you are comfortable with, ask all the questions no matter how silly they are and they will lead you down the right path!
0 votes Thank Flag Link Wed May 7, 2008
What are your careers? There are special programs for those in certain job industries.
Is the house a fixer upper, i also know of first time programs for fixer uppers.
0 votes Thank Flag Link Tue Apr 15, 2008
Depending on what Parish you are in, there maybe Bond Money available.

On my website, go to this link, and I have a basic description of what money you get back in one of my neighbouring parish in the New Orleans metropolitian area.

Essentially, you can get up to 4% towards your closing costs...even on condos! There are 30 and 40 yr terms.
Web Reference:
0 votes Thank Flag Link Tue Apr 15, 2008
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