First-Time Home Buyer Programs in Louisiana

Louisiana Housing Corporation (LHC) Programs:

LHC Choice Program:

Eligibility: For first-time buyers (no homeownership in past 3 years), veterans, or buyers in federally targeted areas.
Offerings: 30‑year fixed FHA, VA, USDA, or conventional loan with up to 6% of purchase price in 0% second loan for down payment/closing costs.
Requirements:

• Income/guidelines based on HUD MSA limits (e.g., 60% AMI caps ~$38,500–$55,000 by parish). View 2025 income limits.
• Credit score ≥ 640 (per loan requirements).
• Debt-to-income ratio capped at 45% (50% with higher credit).
• Homebuyer education required for first-time buyers.
• Purchase price limits apply (HUD-based, up to ~$427,198 in targeted areas).

Delta 100 Program:

Benefits: 100% financing with a 30‑year fixed loan, up to 3% grant for closing/prepayment assistance, and a 2% rate — no minimum credit score required.
Requirements: Choose a parish-specific property; borrower must contribute 1% or $1,500. Delta 100 Program details.

Resilience Soft Second Program:

Description: Up to $60,000 forgivable second loan for down payment, closing, and resilience upgrades (e.g., flood mitigation); forgiven after 10 years. Available in disaster-impacted parishes; income ≤ 120% AMI; must pair with LHC first mortgage.

Local Programs:

New Orleans

Soft Second Mortgage Program: Up to $55,000 forgivable after 10 years; income ≤ 80% AMI (~$52,750 for a family of four); buyer must contribute $1,000 minimum.

Baton Rouge

Capital Region Homebuyer Program: Up to $20,000 deferred loan; income ≤ 80% AMI; homebuyer education required.

Shreveport

First-Time Homebuyer Assistance: Up to $10,000 forgivable after 5 years; income ≤ 80% AMI; focuses on low-income neighborhoods.

Additional Information:

• Mortgage Credit Certificate (MCC): Federal tax credit up to $2,000/year; aligns with 2025 HUD limits ($80,650 for 4-person household in New Orleans MSA). More on limits.
• FHA Loans: 3.5% down with credit ≥ 580 (10% if lower).
• USDA Loans: 0% down in rural areas (income limits apply).
• VA Loans: 0% down for eligible veterans or active military.