First Time Homebuyer Programs in Louisiana
Louisiana provides a range of programs through the Louisiana Housing Corporation (LHC) to support first-time homebuyers. These programs offer financial assistance and affordable loan options to make homeownership more attainable.
Market Rate GNMA Program
The Market Rate GNMA Program offers competitive mortgage rates for eligible first-time buyers.
- Provides a 30-year fixed-rate mortgage with low interest rates.
- Available for FHA, VA, and USDA loans.
- Requires a minimum credit score of 640.
LHC Down Payment Assistance (DPA) Program
The Down Payment Assistance Program helps buyers cover upfront costs.
- Offers up to 4% of the loan amount for down payment and closing costs.
- Assistance is provided as a forgivable second mortgage.
- Can be combined with LHC loan products for additional benefits.
Mortgage Revenue Bond (MRB) Assisted Program
This program provides a combination of low-interest loans and financial assistance for eligible buyers.
- Features below-market mortgage rates.
- Includes up to 4% assistance for down payment and closing costs.
- Eligibility based on income limits and purchase price requirements.
Louisiana’s first-time homebuyer programs are designed to make homeownership more affordable and accessible. Explore these options and take the first step toward owning your dream home in the Pelican State.