Louisiana HomeStart Assist

How is Louisiana HomeStart Assist paid back?

Forgivable loan: 0% second mortgage, fully forgiven after 5 years (60 months) if you meet the program's rules.

A forgivable loan is written off once you have kept the home and its first mortgage for the years the program sets.

Who qualifies for Louisiana HomeStart Assist?

• Income up to 115% of area median income; up to 140% in targeted areas.
• Only for first-time buyers (usually no home owned in the past three years).
• A credit score of 640 or higher.
• A homebuyer education course before you buy.
• It comes with a 30-year fixed-rate first mortgage through the LHC program.

Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.

How to apply for Louisiana HomeStart Assist

1. Louisiana Housing Corporation pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
2. The lender checks your income, credit and the home against the program's rules and reserves the money for you.
3. The help is paid at closing, toward your down payment and closing costs.

Read the full rules and whether it is taking applications on Louisiana Housing Corporation's page for HomeStart Assist.

Other first-time buyer programs in Louisiana

• Louisiana HomeStart Plus: up to 20% of the price, at most $55,000, forgivable loan.

All Louisiana first-time home buyer programs · Down payment assistance in every state