Calcasieu Parish Public Trust Authority
New Low Interest Loan and Down Payment Grant Program
The Calasieu Parish Public Trust Authority has a new program for ALL home buyers. If you are a second, third or tenth-time homebuyer you can qualify for this program!
A new low interest rate and a down payment grant are features of a new Mortgage Revenue Bond Program now being offered. A total of $15 million will be distributed as low-interest mortgage loans to homebuyers using new competitive rates.
The program now has a low interest rate of 6.10% along with 4% in closing cost assistance. It means that a homebuyer who borrows $100,000 for a new home may be eligible for the closing cost help in the amount of $4,000.
The down payment assistance offered by the Trust Authority is a grant and therefore does not need to be paid back.
Buyers who have owned a home before can qualify for this program as long as they meet the mortgage loan guidelines and income and purchase price guidelines for the program. Purchasers can be second, third or tenth-time homebuyers and use the program.
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The Calcasieu Parish Public Trust Authority has increased the number of parishes that are eligible for its new Mortgage Revenue Bond program. Low interest loans and assistance will now be available in:
This program is unique for several reasons:
The added coverage in the five-parish area is open to ALL buyers who qualify.
The low 6.10% interest rate.
New higher income and purchase price limits.
The Mortgage Revenue Bond program offers below market interest rates to families who qualify under the program in addition to assistance.
In order to participate in the Program, homebuyers must meet certain eligibility requirements, purchase a home and obtain a mortgage loan through a participating Lender.