Down Payment Path

Down Payment Assistance Programs in Louisiana

Louisiana offers a variety of down payment assistance programs to make homeownership more accessible to a broad range of buyers. These initiatives provide financial support for upfront costs, helping both first-time and repeat homebuyers achieve their goal of owning a home in the Pelican State.

LHC Market Rate GNMA Program

The Louisiana Housing Corporation (LHC) Market Rate GNMA Program provides affordable mortgage options with down payment assistance for eligible buyers.

  • Offers up to 4% of the loan amount in assistance.
  • Assistance is structured as a second mortgage with favorable terms.
  • Pairs with FHA, VA, and USDA loans.
  • Open to all buyers meeting income and purchase price limits.

LHC Delta 100 Program

The Delta 100 Program is designed to assist buyers in specific regions of Louisiana with generous support for upfront costs.

  • Provides 100% financing with no down payment required.
  • Includes assistance for closing costs to reduce out-of-pocket expenses.
  • Available in designated parishes.
  • Income limits apply but accommodate a wide range of buyers.

Key to Own Program

The Key to Own Program helps buyers transition from renting to homeownership by offering financial assistance for down payments and closing costs.

  • Available to eligible buyers, including repeat purchasers.
  • Provides down payment assistance as a forgivable loan if residency requirements are met.
  • Works with various mortgage loan products.

USDA Rural Development Loans

For buyers in rural areas of Louisiana, the USDA Rural Development Loan offers financing with no down payment required.

  • Open to low- and moderate-income buyers in USDA-designated rural areas.
  • Flexible credit requirements and competitive interest rates.
  • Can be paired with state or local programs to cover closing costs.

Mortgage Credit Certificate (MCC)

The Mortgage Credit Certificate program offers significant tax savings to reduce the overall cost of homeownership.

  • Allows buyers to claim a federal tax credit for a portion of their annual mortgage interest.
  • Can be combined with LHC mortgage programs and down payment assistance.
  • Income and purchase price limits apply.

Local Assistance Programs

Many parishes and cities in Louisiana provide additional down payment assistance options for local homebuyers.

  • Programs in areas like New Orleans, Baton Rouge, and Shreveport often include grants or low-interest loans for down payment and closing costs.
  • Some initiatives offer enhanced benefits for public service workers, such as teachers and first responders, or target specific revitalization areas.
  • Eligibility and assistance levels vary based on location.

Louisiana’s down payment assistance programs are designed to help buyers overcome the financial challenges of purchasing a home. Whether you are buying your first home or upgrading, these resources can provide valuable support to help you achieve your dream of homeownership in the Pelican State.