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Delta 100 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 Delta 100 Program. This $2 million, parish-specific program helps some first-time homebuyers who lack traditional credit but have demonstrated the ability, willingness, and commitment to homeownership through alternate avenues. 

LHC will provide up to 100% financing and up to 3% closing cost and prepayment assistance to eligible homebuyers. These borrowers are required to complete a Homebuyer Education Course, meet minimum investment requirements and have sufficient cash reserves to qualify.

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

 

Program Details

  • 30-year, 2% fixed interest rate
  • First-time homebuyer only with no minimum credit score
  • Must purchase single-family housing in the Delta Parishes*
  • Borrower investment: 1% of purchase price or $1,500, whichever is less (gifts not allowed)
  • Homebuyer education required

* Caldwell, Catahoula, Concordia, East Carroll, Franklin, Madison, Morehouse, Pointe Coupee, Richland, Tensas, West Carroll, and Ouachita (excluding Monroe) 

Program Benefits

  • Mortgage insurance not required
  • Up to 3% for closing costs and prepaid items
  • Maximum loan amount of $242,000
  • Household income up to 80% AMI by parish and household size

 

Determine If This Program Is Right for You

Not all prospective homebuyers are eligible for this program. To determine if the Delta 100 Program is right for you, follow these simple steps:

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

STEP #2 – Choose a Lender:

  • Select the 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 and 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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