The way it works is decide to live in Jefferson Parish as your primary residence, Get 4% Funds Assistance,  available from Jefferson Parish Bond to assist with down payment and closing costs.  In the example below, we are using a $120,000.00 home as an example of the incredible options you can have.  What makes this such an great deal is you can buy a property with NO MONEY DOWN!    So here are the options for the $120,000.00 home being purchased in Jefferson Parish.  These are all FIXED RATE options:

Jefferson Parish Bond Money Conventional 30 year   Purchase Price:      $120,000 Loan Amount:    $ 120,000 Monthly P&I:      $     749                           Int Rate:   6.39% 4% Funds Assistance available from Jefferson parish Bond to assist with down payment and closing costs.	100% Financing Conventional 30 year     Purchase Price:                  $120,000 Loan Amount:    $120,000 Monthly P&I:         $ 758                           Int. Rate:   6.50%	80/20 Mortgage Conventional 30 year     With this option, you have two(2) loans, a 1st and 2nd mortgage.  People use this option to avoid PMI, (Private Mortgage Insurance)   First Mortgage/NO PMI Price:      $120,000 Loan Amount: $96,000 Monthly P&I:  First mortgage @ $ 598 first Second:        $ 199   Int. Rate:   6.375%	Conventional 30 year Fixed Rate/ 5% Down         Price:                 $120,000 5% Down          -     6,000 Loan Amount:   $114,000 Monthly P&I:   $       711                               Int. Rate:               6.375%
4%=$3600.00	4%=$4,480.00	4%=$4,800.00	4%=$6,000