First-Time Homebuyers: It’s a Great Time to Buy Low rates, prices, and plenty of homes for sale can provide you with a great opportunity! If you’re thinking about buying your first home, but you’re afraid to buy because of recent issues in the housing industry – there’s good news. The housing market is starting to turn the corner in many parts of the country. Plus, there are several other reasons why now may be an ideal time to buy your first home: Mortgage rates are at historic lows – averaging around five percent for a 30-year fixed-rate mortgage – providing you with more home purchasing power.If you wait too long to buy, you could find yourself with a higher rate that could impact how much home you can afford.  There are a lot of houses on the market – giving you a variety of homes to choose from. And, if you’re in the market for a new home, you may be able to take advantage of special incentives being offered by builders. House prices are lower than they have been in years, and homes are beginning to appreciate –the combination of these two factors can provide you with a great opportunity when buying your first home. Are You Ready for Homeownership? The best way to know if you should become a homeowner is to do your homework and determine if you are financially ready. Homeownership is most likely the largest financial commitment you will ever make, and it is more important than ever that you are financially prepared and financially stable. How do you know if you’re financially prepared? You are on a good path if: You have a good, steady income that you can document Your credit history is strong You’ve saved money for a down payment and closing costs You also have funds on hand for emergencies – like temporary loss of income or medical situations – as well as money for home repairs. Also, take the time to preparefor successful, long-term homeownership and seek out good pre-purchase housing counseling from a HUD-approved counseling agency (www.hud.gov). Research shows counseling can reduce your risk of defaulting on your loan by as much as 35 percent!

Building, purchasing or refinancing a home ?  One time Construction/Permanent financing. We have an array of mortgage products to suit any need.  FHA, VA, Conventional, Rural Development as well as State Bond programs.  Contact us by emailing for more information at info@sttammanyhomestead.com or call us at (800)646-1658 or on the Southshore (504)430-0546. Health Savings Accounts ARE HERE!!!  Visit either of our offices for banking and lending needs!  Covington Location 205 N. Columbia Street Covington, LA 70433 Phone: 985-892-4565 Toll-free: 1-800-646-1658 Mon - Fri 9:00 ~ 4:00PM And by appointment for Loan applications. Slidell Location 200 Gause Blvd. Slidell, LA  70458 Phone: 985-641-3555 Toll-free 1-800-646-1658 Mon - Fri 9:00 ~ 4:00PM And by appointment for Loan applications. Banking Full Service Checking - Free Bill-pay Interest Checking Small Business Checking - Free Bill-pay Passbook Savings Statement Savings Certificate of Deposits Individual Retirement Accounts Health Savings Account Mortgage Loans Conforming Nonconforming Construction - Interim Construction - One Closing/Permanent Lots Vacant Land/Rural VA, FHA  State Bonded   South Shore Home Loan Office 1018 Central Ave. Metairie, LA  70001 Phone: 504 293 2252 or  504 430 0546  Ready to buy a home? Call today and we’ll get you started with these key steps: Select a lender. You’ll want to find a lender that is reputable, trustworthy, and offers financing options that meet your needs. St. Tammany Homestead Savings and Loan Associationcan share practical tips on choosing an appropriate lender. Friends and colleagues are also excellent sources for lender referrals. Go through the pre-approval process and determining how much you can afford. In today’s market, pre-approval is critical before you start shopping for a home. Not only does it help determine how much home you can afford, it allows you to make an offer quickly – which is especially important as foreclosed homes and short sales in the lower price range can move very fast. Look for your first home.  St. Tammany Homestead will be with you every step of the way in choosing your first home, from evaluating neighborhoods to negotiating a good deal for you. We’re here to answer any questions you may have as you go through the homebuying process. Today’s market provides you with more opportunities than we’ve seen in years. If you decide to take the step to homeownership, remember that being financially prepared and doing your homework early in the process are key to becoming a long-term, successful homeowner.