Another good reason to Finance Your Dream Home with us…
Metairie Bank offers Affordable Home Loans for low to moderate income applicants that qualify.
PROGRAM GUIDELINES:
- Up to 100% financing with no Private Mortgage Insurance
- Fixed rate up to 30-year mortgage loan
- Income not to exceed 120% of the HUD Median family income limits
- Payment, including escrow, not to exceed 35% of gross income
- Debt to income ratio not to exceed 45% of gross income
- Restricted to owner-occupied, single-family residence
- First time home buyer counseling program required (Jefferson Housing Foundation/Sulli Educational Services/Neighborhood Housing Services or other acceptable training facilities)
- Certified appraisal required
- Termite certificate required within 30 days prior to sale
- Borrower may not own an interest in other real estate within the past three years
- Borrower must be able to substantiate and provide documentation for steady income for the past two years
- Borrower must have an acceptable credit history with a minimum 620 credit score