LHC Choice Conventional Program

The LHC Choice Conventional Program allows lenders to process loans through "Loan Product Advisor" and provides a possibility of increased assistance if borrowers meet specific income limits.  This program allows LTV to 97%, higher income limits to $99,000, and reduced mortgage insurance premium.


Approved Lenders

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