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.

The program allows low and moderate income Louisiana families to realize their dreams of owning a home. Its availability is not limited to first-time homebuyers, and the program provides down payment assistance. It is available to potential homebuyers with household incomes up to 115% of area median income (AMI) established by parish.

Through the Market Rate GNMA Program, homeowners are offered 30-year, fixed-rate FHA, VA or USDA Rural Development mortgages.

Read on to find out if this program is right for your prospective borrower.

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 homebuyer requirement does not apply
• Up to 3% assistance for down payment, closing costs and/or prepaid items
• No origination or discount fees
• No additional bond documents or compliance package