December 2010

A Christmas Story

(Covington, LA) It will be a merrier Christmas this year for the Simmons family!  First time homebuyers Jeremy and Jennifer and their four children will celebrate the holidays in their new 4-bedroom, 2-bath home off Hwy. 190 in Tammany Hills subdivision.

Counselors Kevin Zamjahn and Theata Mason remember Jeremy as being a hard worker who "was determined" and fully committed in the Financial Fitness and Homebuyer Training classes.
"Jeremy has a young family, and he took a lot of initiative to get his family in to a home," says Kevin.  "After completing NHS-Northshore pre purchase services, Jeremy was able to get an FHA loan from Fidelity Homestead.  He was also a participant in the Southern University IDA program, saving $1000 and getting a match of $4000 for a total of $5000 to use for down payment assistance and closing costs."  For more on the Southern University and Greater New Orleans United Way Individual Development Account (IDA) programs, see below.

For the Simmons family, Santa came early this year. Jeremy, Jennifer and the kids tell us that they are looking forward to many more yuletide visits from Old St. Nick at their new home.

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Product Spotlight

IDAs are a match program designed to help families purchase a home.

Greater New Orleans United Way

• Income eligible
• 4 to 1 match up to $2000
• Return up to $8000

Southern University

• Income eligible
• 4 to 1 match up to $1000
• Return up to $4000

For more information, call:
Mandeville Office 985-809-9472
Bogalusa Office   985-732-0064

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LHFA Bond Money

So You're intrigued about the possibility of homeownership, but there's a problem.....you're money is funny, and your change is strange.

You could be a candidate for the Louisiana Housing Finance Agency (LHFA) bond money program.  The LHFA offers an opportunity for affordable homeownership for first time homebuyers, and low to moderate income families, through its assisted and unassisted programs. 

The assisted program currently allows a mortgage interest rate of 4.5% and allows as much as 3% of the loan amount to be used towards down payment and closing costs.


The unassisted program is currently at a mortgage interest rate of 3.95%.  For the bond money there are income limitations, and the counselors at NHS-Northshore, will be happy to review the income guidelines with potential candidates.  The bond money program works in conjunction with FHA, VA, and rural development programs, so conforming credit criteria does apply.

So....if your credit won't get it and your pennies aren't many, let NHS-Northshore get you on the right path to homeownership, with the LHFA Bond Money program, or other opportunities.

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Tip of the Month!!!

Arctic temperatures are upon us.  Even in our neck of the woods the temperature can drop well below freezing for an extended period of time.  Busted pipes and a busted budget could be the result of not being prepared. Use these simple tips and the winter holidays will be a lot more merry.

When temps dip below freezing:

• Wrap any outside exposed pipes
• Let water run throughout the night
• If you have a well, put a light next to your pump
• Open cabinet doors under sinks to allow the warm air to heat the pipes