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


    Determine If This Program Is Right for You

    Not all prospective homebuyers are eligible for this program. To determine if the Choice Conventional Program is right for you, follow these simple steps:

    STEP #1 – Determine your income: The maximum annual household income is $99,000.

    • To determine if you’re eligible for the additional subsidy, refer to Exhibit F(b).
      • If your income is equal to or below the amount the 80% AMI amount for your parish, you may be eligible for the subsidy. Consult with an approved lender for more details.

    STEP #2 – Choose a Lender:

    • Select a lender. Find approved lenders here
    • Make an appointment to be pre-qualified.
    • Meet with the lender to:
      • Complete a loan application
      • Order credit report
      • Pre-qualify for a mortgage loan

    STEP #3 – Select a Realtor: Begin your home search; once you have signed a purchase agreement, return to the lender to complete the loan process.

    STEP #4 – Reserve Funds: The lender will reserve the assistance funds for you with Louisiana Housing Corporation and complete all the remaining processes from loan application to loan closing.



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