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- The Louisiana Housing Corporation has state first-time homebuyer programs and financial assistance.
- Select cities throughout the state offer additional resources for first-time homebuyers.
- You may need to have meet an income limit requirement to qualify for state or city programs.
First-time homebuyers in the state of Louisiana can look to the Louisiana Housing Corporation (LHC) or city homebuyer programs to lock in a good mortgage rate or get financial assistance.
Below, you'll get a rundown of each state program, as well as local programs in Alexandria, New Orleans, and Kenner.
LHC Home | MRB Program
The Home| MRB Program assists low-income first-time homebuyers by covering some down payment and closing costs. You could get a loan equal to 5% to 9% of your mortgage to cover these costs.
To be eligible for the Home| MRB Program program, you'll need to meet the following requirements as a first-time homebuyer:
- You plan to buy a home in Louisiana
- You meet the local income requirements for your area
- The purchase price of your home does not exceed $349,525
- You have a minimum credit score of 640
Below, you'll find the local income requirements for the LHC Home| MRB Program.
| Location | Maximum income limit for 1 person | Maximum income limit for a family of 2 | Maximum income limit for a family of 3 | Maximum income limit for a family of 4 |
| Greater Baton Rouge area | $49,700 | $56,800 | $63,900 | $70,950 |
| Greater New Orleans area | $43,900 | $50,200 | $56,450 | $62,700 |
LHC Mortgage Revenue Bond Assisted Program
The LHC Mortgage Revenue Bond Assisted Program also offers financial assistance to first-time homebuyers. You may receive a loan equal to 4% of your mortgage to pay for your down payment or closing costs.
The Mortgage Revenue Bond Assisted Program might be a good option if your income exceeds the income requirements of the Home | MRB Program.
The program is open to any first-time homebuyers who meet the following criteria:
- You plan to buy a home in Louisiana
- Your income falls below the income limit requirement for your area
- You plan to purchase a home that's less than $349,525
- You have a minimum credit score of 640
Below you'll find the local income requirements to be a part of the Mortgage Revenue Bond Assisted program.
| Location | Maximum income limit for a family of 2 or fewer | Maximum income limit for a family of 3 or more |
| Greater Baton Rouge non-targeted area | $88,900 | $102,235 |
| Greater Alexandria and Monroe non-targeted area | $72,400 | $83,260 |
| Greater New Orleans area | $81,900 | $94,185 |
LHC Market Rate GNMA Program
With the Market Rate GNMA Program, you can get a 30-year fixed-rate FHA, VA, or USDA mortgage with a low interest rate. You'll also receive up to 4% of your mortgage as a loan, which can go toward paying your down payment and closing costs.
You don't need to be a first-time homebuyer to qualify for the Mortgage Rate GNMA Program. You'll still need to have a credit score of at least 640 and a household income up to 115% of the area median income to apply, though.
Also, be mindful that the FHA mortgage limit is $420,680 and the VA mortgage limit is $647,200 for all parishes.
Below you can see if you meet the income limit requirements for the Mortgage Rate GNMA Program, according to the State of Louisiana:
| Parish | Income limit |
| Acadia Parish | $83,260 |
| Allen Parish | $83,260 |
| Ascension Parish | $102,235 |
| Assumption Parish | $83,260 |
| Avoyelles Parish | $83,260 |
| Beauregard Parish | $83,375 |
| Bienville Parish | $83,260 |
| Bossier Parish | $83,260 |
| Caddo Parish | $83,260 |
| Calcasieu Parish | $83,260 |
| Caldwell Parish | $83,260 |
| Cameron Parish | $86,250 |
| Catahoula Parish | $83,260 |
| Claiborne Parish | $83,260 |
| Concordia Parish | $83,260 |
| De Soto Parish | $83,260 |
| East Baton Rouge Parish | $102,235 |
| East Carroll Parish | $83,260 |
| East Feliciana Parish | $102,235 |
| Evangeline Parish | $83,260 |
| Franklin Parish | $83,260 |
| Grant Parish | $83,260 |
| Iberia Parish | $83,260 |
| Iberville Parish | $83,260 |
| Jackson Parish | $83,260 |
| Jefferson Parish | $94,185 |
| Jefferson Davis Parish | $83,260 |
| Lafayette Parish | $97,060 |
| Lafourche Parish | $83,260 |
| La Salle Parish | $83,260 |
| Lincoln Parish | $83,260 |
| Livingston Parish | $102,235 |
| Madison Parish | $83,260 |
| Morehouse Parish | $83,260 |
| Natchitoches Parish | $83,260 |
| Orleans Parish | $94,185 |
| Ouachita Parish | $83,260 |
| Plaquemines Parish | $94,185 |
| Pointe Coupee Parish | $102,235 |
| Rapides Parish | $83,260 |
| Red River Parish | $83,260 |
| Richland Parish | $83,260 |
| Sabine Parish | $83,260 |
| St. Bernard Parish | $94,185 |
| St. Charles Parish | $94,185 |
| St. Helena Parish | $102,235 |
| St. James Parish | $83,605 |
| St. John the Baptish Parish | $94,185 |
| St. Landry Parish | $83,260 |
| St. Martin Parish | $97,060 |
| St. Mary Parish | $83,260 |
| St. Tammany Parish | $94,185 |
| Tangipahoa Parish | $83,260 |
| Tensas Parish | $83,260 |
| Terrebonne Parish | $83,260 |
| Union Parish | $83,260 |
| Vermilion Parish | $83,260 |
| Vernon Parish | $83,260 |
| Washington Parish | $83,260 |
| Webster | $83,260 |
| West Baton Rouge Parish | $102,235 |
| West Carroll Parish | $83,260 |
| West Feliciana Parish | $102,235 |
| Winn Parish | $83,260 |
LHC Delta 100 Program
The LHC Delta 100 Program offers a 30-year fixed-rate mortgage of up to $242,000 to first-time homebuyers planning to buy a home in select areas in Louisiana. You may also receive a loan that covers 3% of your mortgage.
This program does not have a minimum credit score requirement, so you might favor this program over the others if you don't have a high credit score or a lot of credit history.
To be a part of the program, you must contribute at least 1% of the purchase price of your home or $1,500 (whichever is less). Your household income must be no more than $99,000.
You'll only be eligible if you plan to buy a home in the Delta Parishes, which include:
- Caldwell
- Catahoula
- Concordia
- East Carroll
- Franklin
- Madison
- Morehouse
- Pointe Coupee
- Richland
- Tensas
- West Carroll
- Ouachita (not Monroe)
LHC Mortgage Credit Certificate Program
You might like the LHC Mortgage Credit Certificate Program if you're a low-to-moderate-income first-time homebuyer.
With the certificate program, you may receive a federal tax credit of up to $2,000 annually. You'll also still be eligible to become a part of any of LHC's other programs.
To see if you qualify, check income limits from the LHC here.
LHC Soft Second Mortgage
If you're a first-time homebuyer with an income under 80% of the area median income, the LHC Soft Second Mortgage might be a good choice.
The LHC Soft Second Mortgage is a 10-year forgivable loan that provides 20% of your home's purchase price (up to $55,000) and up to $5,000 for closing costs. If you stay in your home for 10 years, your loan will be forgiven, and you won't have to repay it.
To apply for an LHC Soft Second Mortgage, you may buy a home in a Gustav, Ike, or Isaac designated parish, which includes: Acadia, Allen, Ascension, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Caldwell, Catahoula, Claiborne, De Soto, East Carroll, East Baton Rouge, East Feliciana, Evangeline, Franklin, Grant, Iberia, Iberville, Jackson, Jefferson Davis, Lafayette, LaSalle, Lincoln, Livingston, Madison, Morehouse, Natchitoches, Ouachita, Pointe Coupee, Rapides, Red River, Richland, Sabine, St. Helena, St. James, St. Landry, St. Martin, St. Tammany, Tangipahoa, Union, Vermilion, Vernon, Washington, Webster, West Baton Rouge, West Carroll, West Feliciana, and Winn Parish.
How to apply for an LHC program
If you meet the requirements and would like to apply, choose a participating lender on this list. The lender will walk you through the home buying process and determine if you're eligible for one of the programs.
Additional local resources
If you plan to buy a home in one of these areas, you may also be able to receive financial aid through a city program.
Alexandria
The City of Alexandria has a program for first-time homebuyers up to 80% of the area median income.
Through the program, you may receive a loan of up to $25,000 which may go towards reducing your mortgage principal or paying for closing costs.
New Orleans
First-time homebuyers in New Orleans with an income below 80% of the area median income might be eligible to get a 10-year forgivable loan of up to $55,000 and up to $5,000 in closing cost aid. If you decide to sell your home in less than ten years, you will need to pay either your entire loan or a portion of your loan back.
You must take a home buyer's education course and qualify for a mortgage through a participating lender to check if you're eligible.
Kenner
The City of Kenner offers a 0% forgivable loan of up to $50,000 that may go toward paying down payment and closing costs. To qualify, you'll need to buy a home in the city of Kenner that has a purchase price below $196,000 and apply through a participating lender.