6 Steps to Buying a House
- Enroll and satisfactorily complete the Financial Fitness and the First-time Homebuyer Training Classes and receive a certification. Class certificates are good for 2 years. Click here for list of class providers.
- Select a mortgage lender: Applicants are responsible for selecting their own lender for the primary first mortgage loan needed for the purchase of their home. However, the First-Time Homebuyer Program is only designed to work in conjunction with a fixed rate/fixed term primary mortgage. Other unconventional types of mortgages (adjustable rate mortgages, temporary buy downs, balloon mortgages, etc.) will not be allowed for program participation. Additionally, the program has set primary mortgage lender requirements that must be met by participating lenders if HOME funds are to be used in the purchase of the property. Program applicants are solely responsible for meeting their chosen lender’s loan underwriting qualifications such as credit scores, length of employment, debt history, etc. (Click Here for our Approved Lenders no EXCEPTION!!).
- Choose a real estate agent to help you find a home within your price range in the neighborhood of your choice. (Click her for a list of agents).
- Once you decide on a house, work with your realtor to negotiate a purchase agreement with the seller. Have your realtor
include a contingency clause to protect your earnest money deposit, such as: “This offer is predicated upon the successful receipt of a Jefferson Parish First-time Homebuyer Purchase Subsidy for the purchase of subject property."
- After the seller accepts your purchase agreement, provide a copy to the lender so that they may begin to process your loan.
- Before completing the Application Form, you must be pre-approved by an Approved Lender. (Click here for our Approved Lenders) DO NOT MAIL THE APPLICATION FORM. PLEASE BRING THE FORM AND ALL REQUIRED DOCUMENTS WITH YOU WHEN YOU COME FOR YOUR SCHEDULED IN PERSON INTERVIEW.
Department of Community Development
First Time Homebuyer Program