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.
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:
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.
See Exhibit Fa for income and loan limitations for this program.
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Find out about the GNMA program with our FAQ document. Learn More
Use this helpful mortgage calculator to determine your monthly payment amount and help budget for your new home. Go to calculator
Find information on these programs for lenders. Learn More
Find approved lenders in your area. Learn More
The LHC offers several programs that can assist eligible homebuyers reduce their down payments. See programs offering down payment assistance. Learn More
Find information on these programs for Realtors. Learn More
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