LHC Choice Conventional 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 Choice Conventional Program. This program can provide an additional subsidy to help cover closing costs for homebuyers that meet the income requirements for their parish.

Read on to find out if this program is right for you.

Program Details

• Competitive 30-year fixed rate
• Available for purchase of 1-unit principal residence (Detached/attached, PUD's, Condos)
• Maximum loan amount of $424,100
• Property must be located in Louisiana
• Maximum income limit of $99,000
• Minimum credit score of 640
• 97% LTV 1-unit property
• Homebuyer education required for first-time homebuyers 
  

Program Benefits

• Up to 4% assistance for down payment, closing costs and/or prepaid items
• Up to an additional 2% assistance for closing cost and prepaid items based on borrower AMI
• First-time homebuyers and repeat buyers allowed
• Reduced mortgage insurance - HFA Advantage Mortgage Insurance Coverage 18%
• No origination or discount fees
• No reserves required
• No borrower contribution required
• Permitted ownership of other residential property under certain circumstances
• Limited program documentation