MRB Home and Assisted

The Mortgage Revenue Bond Assisted Program

This program helps prospective homebuyers who may not have enough money to meet down payment and closing costs. The program has interest rates that are usually at or below market level.

Program Details

• Must be a first-time homebuyer unless the property is in a targeted area
• The property must be in Louisiana
• The borrower must meet local income requirements
• Purchase price cannot exceed established purchase price limits
• If the property is in a Targeted Area (Qualified Census Tract), the annual income may go up to 140% of the median income - depending on family size along with the increased Targeted Acquisition Limit.

Program Benefits

• Down payment and closing costs assistance come in the form of a soft-second that is equal to 4% of the mortgage amount
• Reduced MI for Conventional Loans

Purchase Price and Income Limits for 2022

Greater Baton Rouge Non-Targeted Area

• HOME purchase price limit up to $349,525
• Family Income – 2 or fewer people: $88,900
• Family Income – 3 or more people: $102,235

Greater Alexandria and Monroe Non-Targeted Area

• HOME purchase price limit up to $349,525
• Family Income – 2 or fewer people: $72,400
• Family Income – 3 or more people: $83,260

Greater New Orleans Area

• HOME purchase price limit up to $349,525
• Family Income – 2 or fewer people: $81,900
• Family Income – 3 or more people: $94,185