Eligibility: For first-time buyers (no homeownership in past 3 years), veterans, or buyers in federally targeted areas.
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.
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.
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.
Capital Region Homebuyer Program: Up to $20,000 deferred loan; income ≤ 80% AMI; homebuyer education required.
First-Time Homebuyer Assistance: Up to $10,000 forgivable after 5 years; income ≤ 80% AMI; focuses on low-income neighborhoods.Louisiana Housing Corporation (LHC) Programs:
LHC Choice Program:
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:
Delta 100 Program:
Requirements: Choose a parish-specific property; borrower must contribute 1% or $1,500. Delta 100 Program details.Resilience Soft Second Program:
Local Programs:
New Orleans
Baton Rouge
Shreveport
Additional Information:
View First‑Time Home Buyer Programs for: Kentucky
View First‑Time Home Buyer Programs for: Maine