Market Rate GNMA 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 mortgages through the Market Rate GNMA Program.

This program offers 30-year, fixed-rate FHA, VA or USDA Rural Development mortgages at favorable interest rates.

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

Program Details

  • Competitive 30-year fixed rate
  • Available for purchase of single family housing (1 unit principal residence)
  • The property must be located in Louisiana
  • Household income up to 115% of area median income
  • Minimum credit score of 640

Program Benefits

  • First-time homebuyers and repeat buyers allowed.
  • Up to 4% assistance for down payment, closing costs and/or prepaid items
  • No origination or discount fees
  • No additional bond documents or compliance package


Determine If This Program Is Right for You

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

STEP #1 – Determine Income Eligibility: Your household income cannot exceed the maximum allowed for the parish in which you plan to purchase a home. Income for all household members is included when determining the maximum income limit. Check your parish income limits here.

If you meet the Income Limit Requirement, advance to step #2.

STEP #2 – Choose a Lender: 

  • Select a lender. Find approved lenders here
  • Make an appointment to be pre-qualified for a mortgage loan using the Market Rate GNMA Program.
  • Meet with the lender to complete the following:
    • Loan application
    • Credit report (minimum qualifying credit score is 640)
    • Determine loan product (FHA, VA or RD)
    • Confirm pre-qualification
    • If you are pre-qualified, the lender will advise the price range affordability

STEP #3 – Select a Realtor: Begin your home search; once you have a signed 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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