Finance Authority of St. Tammany Parish (FASTP) Down Payment Assistance Program

What is Finance Authority of St. Tammany Parish (FASTP) Down Payment Assistance Program?

Finance Authority of St. Tammany Parish (FASTP) Down Payment Assistance Program is a grant for homebuyers in St. Tammany County, Louisiana, administered by Finance Authority of St. Tammany Parish.

• The Finance Authority of St. Tammany Parish (FASTP) offers down payment assistance grants of up to 6% paired with a 30-year fixed-rate first mortgage at a competitive rate, plus discounted mortgage insurance on certain products. Assistance tiers of 0%, 3%, or 4% borrower assistance are available across FHA/VA/USDA-RHS and Fannie Mae/Freddie Mac HFA products, including a Fannie Mae 'above 80% AMI' option. The grants require no repayment.
• Down payment grant up to 6% (tiers of 0%/3%/4% by product).
• No repayment required.
• 30-year fixed-rate first mortgage at competitive rate.
• Discounted mortgage insurance on certain products.
• Option for borrowers above 80% AMI (Fannie Mae).
• Funding comes from Finance Authority of St. Tammany Parish (single-family mortgage program / TBA structure).

How much assistance does it provide?

Finance Authority of St. Tammany Parish (FASTP) Down Payment Assistance Program provides assistance worth 6% of the purchase price, as set by the program.

• Award tiers: Borrower assistance options of 0%, 3%, or 4% (and up to 6%), depending on loan product: FHA/VA/USDA-RHS; Freddie Mac HFA Advantage / Fannie Mae HFA Preferred; and Fannie Mae above 80% AMI.
• Amounts are the program's published maximums, not an offer — Finance Authority of St. Tammany Parish determines any individual award.

Do you have to pay it back?

Finance Authority of St. Tammany Parish (FASTP) Down Payment Assistance Program is structured as a grant, so it is not repaid.

• Repayment is triggered by Grant requires no repayment.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Finance Authority of St. Tammany Parish (FASTP) Down Payment Assistance Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Finance Authority of St. Tammany Parish (FASTP) Down Payment Assistance Program sets its income limit as follows: Income limits depend on loan product (a Fannie Mae 'above 80% AMI' tier is offered); specific dollar limits are not published on the public FASTP site and must be confirmed with a qualified lender.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Finance Authority of St. Tammany Parish (FASTP) Down Payment Assistance Program caps the purchase price as follows: Home must be within FASTP's home-cost (purchase price) limits; specific limits not published on the public site.

• Eligible property types include Single Family.

Where does it apply?

Finance Authority of St. Tammany Parish (FASTP) Down Payment Assistance Program serves buyers purchasing in St. Tammany County, Louisiana.

How do you apply?

Applications for Finance Authority of St. Tammany Parish (FASTP) Down Payment Assistance Program go through Finance Authority of St. Tammany Parish, which publishes the current terms and the application steps on its own site.

1. 1

   Contact Finance Authority of St. Tammany Parish to reserve funds

   Funds are reserved through Borrower selects a FASTP-qualified lender who reserves/locks the loan; rates posted via FASTP interest-rate notice (45-day rate lock to lender)., and are subject to availability.

2. 2

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.