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LHC Advantage Program

    LHC’s Commitment

    In keeping with its mission to ensure that every Louisiana resident is granted an opportunity to obtain safe, affordable, energy-efficient housing, the LHC offers the Advantage Program. This conventional product does not provide down payment assistance, but offers a 0% option to reduce PMI.

    The Advantage Program also allows for additional assistance through Freddie Mac (based on AMI.) An additional $1,500 of assistance is available for those that are at 80% AMI and $2,500 of additional assistance is available for those that are at 50% AMI.

    Read on to find out if this program is right for your prospective homebuyer.


    Program Details

    • No down payment assistance
    • Maximum 97% LTV
    • Annual Income Limits of $99,000

    Program Benefits

    • No Loan Level Price Adjustment (LLPA) which normally applies to Standard Conventional, Home Possible and Home Ready Products resulting in lowered interest rates.
    • Lower Charter Mortgage Insurance Rates than Standard Conventional, Home Possible and Home Ready Products resulting in lower total mortgage payments.
    • Lower rates than programs providing down payment assistance thus providing a larger range of options.
    • Benefits moderate income borrowers that do not need down payment or closing cost assistance by lowering their total monthly mortgage note.

    Example of the Monthly Projected Savings to the Borrower

      Standard Conventional LHC Advantage

    First Note Rate

    4.875% 4.250%

    Borrower Credit Score

    650 650

    LLPA's

    (Rate goes up to pay for LLPA's reflected above)

    2.75% No LLPA

    Sales Price

    $170,000 $170,000

    First Loan

    $161,500 $161,500

    LTV

    95.0% 95.0%

    MI Factor

    (example)

    1.50% 1.10%

    Ongoing MI Premium

    $201.88 $148.04

    First Mortgage P&I

    $855 $794

    Total Payment

    $1,057 $943

    Monthly Payment Savings

    $  - $114

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