VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Maximum 50 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to first-time and repeat homebuyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Although the program offers 100 percent financing, a borrower investment is required, and gifts aren’t allowed.
Louisiana down payment assistance and grants
LHC Keys for Service
The Keys for Service program assists certified teachers and first responders with down payment and closing costs. Qualifying borrowers can receive up to 4 percent of the mortgage amount as a no-interest loan that’s forgiven after the borrower has lived in the home for five years. Both first-time and repeat buyers are eligible, provided you don’t own another property at the time of closing.
Buy a primary residence in Louisiana
Have a household income of no more than $125,000
Observe FHA loan limits
Maximum 50 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to first-time and repeat homebuyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Although the program offers 100 percent financing, a borrower investment is required, and gifts aren’t allowed.
Louisiana down payment assistance and grants
LHC Keys for Service
The Keys for Service program assists certified teachers and first responders with down payment and closing costs. Qualifying borrowers can receive up to 4 percent of the mortgage amount as a no-interest loan that’s forgiven after the borrower has lived in the home for five years. Both first-time and repeat buyers are eligible, provided you don’t own another property at the time of closing.
Buy a primary residence in Louisiana
Have a household income of no more than $125,000
Observe FHA loan limits
Maximum 50 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to first-time and repeat homebuyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Buy a single-family property in a qualifying parish: Caldwell, Catahoula, Concordia, East Carroll, Franklin, Madison, Morehouse, Pointe Coupee, Richland, Tensas, West Carroll or Ouachita (excluding Monroe)
Be a first-time homebuyer
Have a household income of no more than 80 percent of the AMI
Maximum loan amount of $242,000
Contribute at least $1,500 or 1 percent of the home’s purchase price, whichever is less
Complete a homebuyer education course
Pros:
No minimum credit score
Below-market interest rate
No mortgage insurance
Cons:
Although the program offers 100 percent financing, a borrower investment is required, and gifts aren’t allowed.
Louisiana down payment assistance and grants
LHC Keys for Service
The Keys for Service program assists certified teachers and first responders with down payment and closing costs. Qualifying borrowers can receive up to 4 percent of the mortgage amount as a no-interest loan that’s forgiven after the borrower has lived in the home for five years. Both first-time and repeat buyers are eligible, provided you don’t own another property at the time of closing.
Buy a primary residence in Louisiana
Have a household income of no more than $125,000
Observe FHA loan limits
Maximum 50 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to first-time and repeat homebuyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Manual underwriting may not be permitted, which could make approval difficult for some borrowers.
LHC Delta 100
The Delta 100 program, which serves specific parishes in the state, is designed for prospective homebuyers who may not have a traditional credit score. Qualifying borrowers can receive up to 100 percent financing and 3 percent of the mortgage amount for closing cost and prepayment assistance.
Buy a single-family property in a qualifying parish: Caldwell, Catahoula, Concordia, East Carroll, Franklin, Madison, Morehouse, Pointe Coupee, Richland, Tensas, West Carroll or Ouachita (excluding Monroe)
Be a first-time homebuyer
Have a household income of no more than 80 percent of the AMI
Maximum loan amount of $242,000
Contribute at least $1,500 or 1 percent of the home’s purchase price, whichever is less
Complete a homebuyer education course
Pros:
No minimum credit score
Below-market interest rate
No mortgage insurance
Cons:
Although the program offers 100 percent financing, a borrower investment is required, and gifts aren’t allowed.
Louisiana down payment assistance and grants
LHC Keys for Service
The Keys for Service program assists certified teachers and first responders with down payment and closing costs. Qualifying borrowers can receive up to 4 percent of the mortgage amount as a no-interest loan that’s forgiven after the borrower has lived in the home for five years. Both first-time and repeat buyers are eligible, provided you don’t own another property at the time of closing.
Buy a primary residence in Louisiana
Have a household income of no more than $125,000
Observe FHA loan limits
Maximum 50 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to first-time and repeat homebuyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Open to condos, townhomes and manufactured housing, as well as single-family homes
Open to multi-family properties
Low-cost mortgage insurance for some borrowers
No origination fees
Cons:
Manual underwriting may not be permitted, which could make approval difficult for some borrowers.
LHC Delta 100
The Delta 100 program, which serves specific parishes in the state, is designed for prospective homebuyers who may not have a traditional credit score. Qualifying borrowers can receive up to 100 percent financing and 3 percent of the mortgage amount for closing cost and prepayment assistance.
Buy a single-family property in a qualifying parish: Caldwell, Catahoula, Concordia, East Carroll, Franklin, Madison, Morehouse, Pointe Coupee, Richland, Tensas, West Carroll or Ouachita (excluding Monroe)
Be a first-time homebuyer
Have a household income of no more than 80 percent of the AMI
Maximum loan amount of $242,000
Contribute at least $1,500 or 1 percent of the home’s purchase price, whichever is less
Complete a homebuyer education course
Pros:
No minimum credit score
Below-market interest rate
No mortgage insurance
Cons:
Although the program offers 100 percent financing, a borrower investment is required, and gifts aren’t allowed.
Louisiana down payment assistance and grants
LHC Keys for Service
The Keys for Service program assists certified teachers and first responders with down payment and closing costs. Qualifying borrowers can receive up to 4 percent of the mortgage amount as a no-interest loan that’s forgiven after the borrower has lived in the home for five years. Both first-time and repeat buyers are eligible, provided you don’t own another property at the time of closing.
Buy a primary residence in Louisiana
Have a household income of no more than $125,000
Observe FHA loan limits
Maximum 50 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to first-time and repeat homebuyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Must have a minimum 660 credit score for manufactured housing
LHC Premier
Both first-time and repeat buyers can qualify for LHC’s Premier program, which offers competitive rates on 30-year conventional and government-backed mortgages.
Buy a home located in Louisiana
Earn no more than $99,000 (borrower only)
Maximum 50 percent DTI ratio for most borrowers
Minimum 640 credit score for most borrowers
Complete a homebuyer education course (first-time buyers only)
Pros:
Open to first-time and repeat buyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Open to multi-family properties
Low-cost mortgage insurance for some borrowers
No origination fees
Cons:
Manual underwriting may not be permitted, which could make approval difficult for some borrowers.
LHC Delta 100
The Delta 100 program, which serves specific parishes in the state, is designed for prospective homebuyers who may not have a traditional credit score. Qualifying borrowers can receive up to 100 percent financing and 3 percent of the mortgage amount for closing cost and prepayment assistance.
Buy a single-family property in a qualifying parish: Caldwell, Catahoula, Concordia, East Carroll, Franklin, Madison, Morehouse, Pointe Coupee, Richland, Tensas, West Carroll or Ouachita (excluding Monroe)
Be a first-time homebuyer
Have a household income of no more than 80 percent of the AMI
Maximum loan amount of $242,000
Contribute at least $1,500 or 1 percent of the home’s purchase price, whichever is less
Complete a homebuyer education course
Pros:
No minimum credit score
Below-market interest rate
No mortgage insurance
Cons:
Although the program offers 100 percent financing, a borrower investment is required, and gifts aren’t allowed.
Louisiana down payment assistance and grants
LHC Keys for Service
The Keys for Service program assists certified teachers and first responders with down payment and closing costs. Qualifying borrowers can receive up to 4 percent of the mortgage amount as a no-interest loan that’s forgiven after the borrower has lived in the home for five years. Both first-time and repeat buyers are eligible, provided you don’t own another property at the time of closing.
Buy a primary residence in Louisiana
Have a household income of no more than $125,000
Observe FHA loan limits
Maximum 50 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to first-time and repeat homebuyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Home and CDBG program offer below-market interest rates
Reduced rates on mortgage insurance for many borrowers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Assistance doesn’t require repayment
Assistance can be used for down payment and closing costs
Cons:
Assisted program offers standard market rates
Must have a minimum 660 credit score for manufactured housing
LHC Premier
Both first-time and repeat buyers can qualify for LHC’s Premier program, which offers competitive rates on 30-year conventional and government-backed mortgages.
Buy a home located in Louisiana
Earn no more than $99,000 (borrower only)
Maximum 50 percent DTI ratio for most borrowers
Minimum 640 credit score for most borrowers
Complete a homebuyer education course (first-time buyers only)
Pros:
Open to first-time and repeat buyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Open to multi-family properties
Low-cost mortgage insurance for some borrowers
No origination fees
Cons:
Manual underwriting may not be permitted, which could make approval difficult for some borrowers.
LHC Delta 100
The Delta 100 program, which serves specific parishes in the state, is designed for prospective homebuyers who may not have a traditional credit score. Qualifying borrowers can receive up to 100 percent financing and 3 percent of the mortgage amount for closing cost and prepayment assistance.
Buy a single-family property in a qualifying parish: Caldwell, Catahoula, Concordia, East Carroll, Franklin, Madison, Morehouse, Pointe Coupee, Richland, Tensas, West Carroll or Ouachita (excluding Monroe)
Be a first-time homebuyer
Have a household income of no more than 80 percent of the AMI
Maximum loan amount of $242,000
Contribute at least $1,500 or 1 percent of the home’s purchase price, whichever is less
Complete a homebuyer education course
Pros:
No minimum credit score
Below-market interest rate
No mortgage insurance
Cons:
Although the program offers 100 percent financing, a borrower investment is required, and gifts aren’t allowed.
Louisiana down payment assistance and grants
LHC Keys for Service
The Keys for Service program assists certified teachers and first responders with down payment and closing costs. Qualifying borrowers can receive up to 4 percent of the mortgage amount as a no-interest loan that’s forgiven after the borrower has lived in the home for five years. Both first-time and repeat buyers are eligible, provided you don’t own another property at the time of closing.
Buy a primary residence in Louisiana
Have a household income of no more than $125,000
Observe FHA loan limits
Maximum 50 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to first-time and repeat homebuyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Buy property in Louisiana that meets program price limits ($507,849 for Home and up to $766,550 for Assisted)
Minimum 640 credit score
Maximum 41 percent debt-to-income (DTI) ratio for Home and 50 percent for Assisted
Pros:
Home and CDBG program offer below-market interest rates
Reduced rates on mortgage insurance for many borrowers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Assistance doesn’t require repayment
Assistance can be used for down payment and closing costs
Cons:
Assisted program offers standard market rates
Must have a minimum 660 credit score for manufactured housing
LHC Premier
Both first-time and repeat buyers can qualify for LHC’s Premier program, which offers competitive rates on 30-year conventional and government-backed mortgages.
Buy a home located in Louisiana
Earn no more than $99,000 (borrower only)
Maximum 50 percent DTI ratio for most borrowers
Minimum 640 credit score for most borrowers
Complete a homebuyer education course (first-time buyers only)
Pros:
Open to first-time and repeat buyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Open to multi-family properties
Low-cost mortgage insurance for some borrowers
No origination fees
Cons:
Manual underwriting may not be permitted, which could make approval difficult for some borrowers.
LHC Delta 100
The Delta 100 program, which serves specific parishes in the state, is designed for prospective homebuyers who may not have a traditional credit score. Qualifying borrowers can receive up to 100 percent financing and 3 percent of the mortgage amount for closing cost and prepayment assistance.
Buy a single-family property in a qualifying parish: Caldwell, Catahoula, Concordia, East Carroll, Franklin, Madison, Morehouse, Pointe Coupee, Richland, Tensas, West Carroll or Ouachita (excluding Monroe)
Be a first-time homebuyer
Have a household income of no more than 80 percent of the AMI
Maximum loan amount of $242,000
Contribute at least $1,500 or 1 percent of the home’s purchase price, whichever is less
Complete a homebuyer education course
Pros:
No minimum credit score
Below-market interest rate
No mortgage insurance
Cons:
Although the program offers 100 percent financing, a borrower investment is required, and gifts aren’t allowed.
Louisiana down payment assistance and grants
LHC Keys for Service
The Keys for Service program assists certified teachers and first responders with down payment and closing costs. Qualifying borrowers can receive up to 4 percent of the mortgage amount as a no-interest loan that’s forgiven after the borrower has lived in the home for five years. Both first-time and repeat buyers are eligible, provided you don’t own another property at the time of closing.
Buy a primary residence in Louisiana
Have a household income of no more than $125,000
Observe FHA loan limits
Maximum 50 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to first-time and repeat homebuyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
Median home price (as of Feb. 2025): $248,800 (Redfin)
Median down payment (as of Dec. 2024): $23,426 (ATTOM)
Most affordable counties: Allen, Claiborne, East Carroll, Madison, Red River, Vernon (ATTOM)
Louisiana first-time homebuyer programs
LHC Mortgage Revenue Bond (MRB)
The MRB program bundles a mortgage with down payment and closing cost assistance. There are three tiers of support:
Mortgage Revenue Bond Home (MRB HOME): MRB Home is available to homebuyers who earn 80 percent or less of their area median income (AMI). It offers below-market interest rates and between 5 and 9 percent of the mortgage amount in down payment and closing cost assistance in the form of a grant.
Mortgage Revenue Bond Assisted (MRB ASSISTED): MRB Assisted is available to homebuyers who earn up to 140 percent of their AMI, if buying in a targeted area. It offers a mortgage, packaged with 4 percent of the mortgage amount in down payment and closing cost assistance in the form of a second mortgage. The assistance is forgiven once you’ve lived in the home for five years.
Mortgage Revenue Bond Community Development Block Grant (MRB CDBG): MRB CDBG is for borrowers in communities affected by Hurricanes Delta, Ida, Laura and Zeta who earn 80 percent or less of their AMI. It also offers below-market interest rates and up to $55,000 in down payment assistance, plus $5,000 toward closing costs. If you live in the home for ten years, the assistance is forgiven.
The programs focus on first-time homebuyers, but MRB Assisted also accepts repeat buyers seeking homes in a targeted area.
Buy property in Louisiana that meets program price limits ($507,849 for Home and up to $766,550 for Assisted)
Minimum 640 credit score
Maximum 41 percent debt-to-income (DTI) ratio for Home and 50 percent for Assisted
Pros:
Home and CDBG program offer below-market interest rates
Reduced rates on mortgage insurance for many borrowers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Assistance doesn’t require repayment
Assistance can be used for down payment and closing costs
Cons:
Assisted program offers standard market rates
Must have a minimum 660 credit score for manufactured housing
LHC Premier
Both first-time and repeat buyers can qualify for LHC’s Premier program, which offers competitive rates on 30-year conventional and government-backed mortgages.
Buy a home located in Louisiana
Earn no more than $99,000 (borrower only)
Maximum 50 percent DTI ratio for most borrowers
Minimum 640 credit score for most borrowers
Complete a homebuyer education course (first-time buyers only)
Pros:
Open to first-time and repeat buyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Open to multi-family properties
Low-cost mortgage insurance for some borrowers
No origination fees
Cons:
Manual underwriting may not be permitted, which could make approval difficult for some borrowers.
LHC Delta 100
The Delta 100 program, which serves specific parishes in the state, is designed for prospective homebuyers who may not have a traditional credit score. Qualifying borrowers can receive up to 100 percent financing and 3 percent of the mortgage amount for closing cost and prepayment assistance.
Buy a single-family property in a qualifying parish: Caldwell, Catahoula, Concordia, East Carroll, Franklin, Madison, Morehouse, Pointe Coupee, Richland, Tensas, West Carroll or Ouachita (excluding Monroe)
Be a first-time homebuyer
Have a household income of no more than 80 percent of the AMI
Maximum loan amount of $242,000
Contribute at least $1,500 or 1 percent of the home’s purchase price, whichever is less
Complete a homebuyer education course
Pros:
No minimum credit score
Below-market interest rate
No mortgage insurance
Cons:
Although the program offers 100 percent financing, a borrower investment is required, and gifts aren’t allowed.
Louisiana down payment assistance and grants
LHC Keys for Service
The Keys for Service program assists certified teachers and first responders with down payment and closing costs. Qualifying borrowers can receive up to 4 percent of the mortgage amount as a no-interest loan that’s forgiven after the borrower has lived in the home for five years. Both first-time and repeat buyers are eligible, provided you don’t own another property at the time of closing.
Buy a primary residence in Louisiana
Have a household income of no more than $125,000
Observe FHA loan limits
Maximum 50 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to first-time and repeat homebuyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
If you’re hoping to buy a home in Louisiana, you might find it more affordable than buyers in other parts of the county. As of February, Louisiana’s median home price was $248,800 — up about 5 percent year-over-year, but still far lower than the national median of $425,061.
But whether your home costs closer to the state median or the national, it’s likely to be a stressful expense — especially if you’re a first-time homebuyer. Fortunately, there are many resources you can use for help with a home loan, as well as down payment and closing costs, starting with the Louisiana Housing Corporation.
Louisiana homeownership statistics
Median home price (as of Feb. 2025): $248,800 (Redfin)
Median down payment (as of Dec. 2024): $23,426 (ATTOM)
Most affordable counties: Allen, Claiborne, East Carroll, Madison, Red River, Vernon (ATTOM)
Louisiana first-time homebuyer programs
LHC Mortgage Revenue Bond (MRB)
The MRB program bundles a mortgage with down payment and closing cost assistance. There are three tiers of support:
Mortgage Revenue Bond Home (MRB HOME): MRB Home is available to homebuyers who earn 80 percent or less of their area median income (AMI). It offers below-market interest rates and between 5 and 9 percent of the mortgage amount in down payment and closing cost assistance in the form of a grant.
Mortgage Revenue Bond Assisted (MRB ASSISTED): MRB Assisted is available to homebuyers who earn up to 140 percent of their AMI, if buying in a targeted area. It offers a mortgage, packaged with 4 percent of the mortgage amount in down payment and closing cost assistance in the form of a second mortgage. The assistance is forgiven once you’ve lived in the home for five years.
Mortgage Revenue Bond Community Development Block Grant (MRB CDBG): MRB CDBG is for borrowers in communities affected by Hurricanes Delta, Ida, Laura and Zeta who earn 80 percent or less of their AMI. It also offers below-market interest rates and up to $55,000 in down payment assistance, plus $5,000 toward closing costs. If you live in the home for ten years, the assistance is forgiven.
The programs focus on first-time homebuyers, but MRB Assisted also accepts repeat buyers seeking homes in a targeted area.
Buy property in Louisiana that meets program price limits ($507,849 for Home and up to $766,550 for Assisted)
Minimum 640 credit score
Maximum 41 percent debt-to-income (DTI) ratio for Home and 50 percent for Assisted
Pros:
Home and CDBG program offer below-market interest rates
Reduced rates on mortgage insurance for many borrowers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Assistance doesn’t require repayment
Assistance can be used for down payment and closing costs
Cons:
Assisted program offers standard market rates
Must have a minimum 660 credit score for manufactured housing
LHC Premier
Both first-time and repeat buyers can qualify for LHC’s Premier program, which offers competitive rates on 30-year conventional and government-backed mortgages.
Buy a home located in Louisiana
Earn no more than $99,000 (borrower only)
Maximum 50 percent DTI ratio for most borrowers
Minimum 640 credit score for most borrowers
Complete a homebuyer education course (first-time buyers only)
Pros:
Open to first-time and repeat buyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Open to multi-family properties
Low-cost mortgage insurance for some borrowers
No origination fees
Cons:
Manual underwriting may not be permitted, which could make approval difficult for some borrowers.
LHC Delta 100
The Delta 100 program, which serves specific parishes in the state, is designed for prospective homebuyers who may not have a traditional credit score. Qualifying borrowers can receive up to 100 percent financing and 3 percent of the mortgage amount for closing cost and prepayment assistance.
Buy a single-family property in a qualifying parish: Caldwell, Catahoula, Concordia, East Carroll, Franklin, Madison, Morehouse, Pointe Coupee, Richland, Tensas, West Carroll or Ouachita (excluding Monroe)
Be a first-time homebuyer
Have a household income of no more than 80 percent of the AMI
Maximum loan amount of $242,000
Contribute at least $1,500 or 1 percent of the home’s purchase price, whichever is less
Complete a homebuyer education course
Pros:
No minimum credit score
Below-market interest rate
No mortgage insurance
Cons:
Although the program offers 100 percent financing, a borrower investment is required, and gifts aren’t allowed.
Louisiana down payment assistance and grants
LHC Keys for Service
The Keys for Service program assists certified teachers and first responders with down payment and closing costs. Qualifying borrowers can receive up to 4 percent of the mortgage amount as a no-interest loan that’s forgiven after the borrower has lived in the home for five years. Both first-time and repeat buyers are eligible, provided you don’t own another property at the time of closing.
Buy a primary residence in Louisiana
Have a household income of no more than $125,000
Observe FHA loan limits
Maximum 50 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to first-time and repeat homebuyers
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limitations apply to manufactured housing
LHC Pathways to Homeownership Soft Second
Louisiana’s Pathways to Homeownership Soft Second program provides up to 20 percent of a home’s purchase price — up to $55,000 — in down payment assistance, and an additional $5,000 to be used toward closing costs. There’s no interest charged on the assistance, and it’s forgiven if you live in the home for ten years. Otherwise, you must only repay it if you sell or refinance.
Be a first-time homebuyer
Buy a primary residence in a qualifying parish
Have a household income of no more than 80 percent of the AMI
Observe FHA loan limits
Maximum 48 percent DTI ratio, 45 percent for manufactured housing
Complete a homebuyer education course
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
LHC Resilience Soft Second
Similar to the Pathways program, the Resilience Soft Second includes up to $55,000 — or 20 percent of the purchase price — in down payment assistance, and $5,000 for closing costs. The balances are forgivable after ten years. The main difference in the two programs is the parishes eligible. Some parishes — for example, Allen, Acadia and Ascension — are eligible for both programs, while other parishes are eligible for one or the other, and some are eligible for neither.
Buyers must contribute the greater of $1,500 or 1 percent of their home’s purchase price from their own funds.
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Limited to buyers in specific parishes
Cannot cover a property located in a flood zone
City-specific homebuyer assistance programs
Jefferson Parish: First-Time Homebuyer Assistance Program
Jefferson Parish, a part of the Greater New Orleans area, operates an assistance program offering up to $50,000 for first-time buyers — up to $60,000 within the city of Kenner. The funds are forgivable, provided the home remains your primary residence for 5 to 15 years, depending on the amount of assistance.
Be a first-time homebuyer
Be a U.S. citizen or permanent resident
Buy a primary residence in Jefferson Parish
Earn no more than 80 percent of the AMI
Meet maximum home appraisal limits
Pros:
Open to condos, townhomes and manufactured housing, as well as single-family homes
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
If buying a manufactured home, applicant must own the land where it’s located
New Orleans: Direct Homebuyer Assistance Program
This program provides qualified homebuyers up to $55,000 for a down payment and up to $5,000 for closing costs. The funds are a no-interest, forgivable loan that doesn’t need to be repaid as long as the home remains the buyer’s primary residence for 10 years.
Be a first-time homebuyer
Buy a primary residence in Orleans Parish
Have a household income of no more than 80 percent of the AMI
Maximum sale price of $324,000
Maximum 48 percent DTI
Qualify for a mortgage with an approved lender
Contribute at least $1,500 or 1 percent of the purchase price
Complete a homebuyer education course
Pros:
Doesn’t require repayment
Can be used for down payment and closing costs
Cons:
Closing cost assistance may cover no more than 50 percent of buyer’s total closing costs.
If you move within the first five years, you must repay the total amount of assistance; partial forgiveness only begins after the fifth year.
After paying for the home purchase, borrowers must have liquid assets equal to at least one month of their proposed household expenses.
Shreveport: Home Buyers Assistance Program Participation Initiative (HAPPI)
The Shreveport HAPPI program assists qualifying buyers looking for homes in targeted neighborhoods with up to 20 percent of a home’s sale price or appraised value, whichever is less, in the form of down payment and closing cost assistance.
Be a first-time homebuyer
Buy a primary residence within a targeted area of Shreveport
Qualify for a mortgage with a program-approved lender
Have a household income of no more than 80 percent of the AMI
Contribute at least $500 or 1 percent of the purchase price, whichever is greater
Complete a homebuyer education course
Pros:
No published home price limit
Cons:
VA loans and manufactured housing are ineligible for this program.
Homes must be located in a targeted neighborhood.
Buyer must contribute personal funds
Other Louisiana first-time homebuyer loans
While you’re considering your first-time homebuyer options in Louisiana, be sure to explore national programs that could get you closer to homeownership.
FHA loans: Insured by the Federal Housing Administration (FHA), an FHA loan is a mortgage designed for borrowers who may have low credit scores or don’t meet conventional loan qualification requirements. If you have a credit score of at least 580, you could qualify for a 3.5 percent down payment on an FHA loan.
VA loans: If you’re a qualifying active-duty member of the military, veteran or surviving spouse, VA mortgages are another important option. These mortgages are guaranteed by the U.S. Department of Veterans Affairs and typically don’t require a down payment. They may also charge lower interest rates than other loans.
USDA loans: For prospective first-time homeowners in designated rural areas, the U.S. Department of Agriculture offers loans that don’t require a down payment. These loans do have income limits that vary by location.
Get started
While you’re researching first-time homebuyer programs, you’ll also want to consider a few other elements of the homebuying process. Look into current mortgage rates and compare reviews of the different lenders operating in Louisiana. Many first-time homebuyer assistance programs work only with specific lenders, so you may want to cross-check those you like with those that partner with your program of choice.
Keep in mind that first-time buyer programs and mortgage lenders often also require homeowners insurance. Budgeting for your insurance, taxes, and homeowners association fees, if you have them, is key as you search for a home.
Lastly, as you consider buying a home in Louisiana, determine how much of a payment you can comfortably afford. Staying within budget will help you to balance homeownership with other financial priorities.
By News Room
