Posted: Jun 20, 2011 7:50 AM by Lauren Wilson & AP
LAKE CHARLES, La. (AP) - The State Bond Commission has approved the allocation of $20 million for a program to aid Calcasieu first-time home buyers.
Tim Castle, president of the Calcasieu Parish Public Trust Authority, said the money will be issued through the parish mortgage credit certificate program and will significantly affect the area's housing market.
Castle tells The American Press a home buyer can claim a tax credit for a portion of the mortgage interest paid annually through a mortgage credit certificate.
He says a number of parish families have taken advantage of the mortgage credit.