Pretty amazing that you can buy a home right her in Mandeville, LA. and only need $500. It's true, of course you have to qualify but even then you only need a 620 credit score and 2 years of job history. The program is not only for first time home buyers, it's for any home buyer. Yep, you can sell your current home, pocket the money or pay off debt like many of my clients have done thus freeing up monthly cash and then buy a new home.
It's a grant program that gives you the down payment. We at Turner Real Estate Group get the home owner to pay the closing cost on your behalf. Now the grant is repaid through the rate which is approximately 1% higher than the prevailing mortgage rate. Today that's around 4% which will put your rate with the grant at around 5%.
You can also refinance the home after living in it for just 6 months if you wish and pay no penalty and of course you never have to pay back the money. I have to admit, 22 years of selling homes, this is a pretty cool program not to mention it's available for almost all the homes for sale in St.Tammany Parish.
Let us know if we can ever be on assistance.
Here is a direct link to homes that can be purchased for no money down in Mandeville, LA.