First-time home buyers living in Louisiana can access some helpful programs, from down payment assistance to closing cost grants.

The Louisiana Housing Corp. helps low- to moderate-income residents obtain mortgages with competitive interest rates and other assistance.

Louisiana Housing Corp. first-time home buyer programs

Programs offered by the Louisiana Housing Corp. can apply to first-time home buyers as well as those purchasing again. Some programs are for particular parishes or regions in the state. There are income limits, as well as maximum purchase prices.

Details vary by program, but here are some general guidelines.

LHC highlights and eligibility requirements

Highlights

  • Down payment and closing cost assistance of up to 9% of the home’s purchase price.

  • Reduced mortgage insurance programs available.

  • No origination or discount fees.

  • 30-year fixed-interest loans at or below market rates.

Eligibility

  • A home buyer education course could be required.

  • Minimum credit score for most programs: 640.

  • The home must be your primary residence.

  • Maximum purchase price limits apply, depending on the program.

Your next step

Although these programs are enabled by the Louisiana Housing Corp., authorized lenders implement them. It’s smart to shop more than one lender, as credit qualifications, terms and other borrower requirements may vary from one lender to the next.

For full details on any Louisiana Housing Corp. program, visit the LHC website.

To get started, consult the list of lenders that participate in LHC programs.