The HOME/MRB Program
helps prospective homebuyers who are at 80% AMI or less and may not have enough money to meet down payment and closing costs. The program has interest rates that are below market level.
Just the facts
If you are interested in owning your home, please contact a participating lender who can provide you with detailed information regarding these programs and guide you through the financing options that are available. Your lender and real estate agent can help you through the process of purchasing your first home and should be able to answer any questions you may have regarding the program.
- Must be a first-time homebuyer
- The property must be in Louisiana
- Must meet local income requirements
- Purchase price cannot exceed HOME purchase limits
- Down payment and closing cost assistance ranges between 5% to 9% depending on the loan amount
- Contact one of LHC’s participating lenders to discuss the details and be pre-qualified
- Find a house that meets the program requirements (1 unit). You can do this through a real estate agent or on your own.
- Obtain a signed purchase agreement for the home. A real estate agent can help you negotiate a contract.
- Apply for the home loan with an LHC participating lender.
Home/MRB Program Documents
Income and Purchase Price Limits
- Greater Baton Rouge Area
- Family Income – 1 person: $41,900
- Family Income – 2 people: $47,900
- Family Income - 3 people: $53,900
- Family Income - 4 people: $59,850
- Home purchase price limit up to $271,164
- Greater New Orleans Area
- Family Income – 1 person: $36,750
- Family Income – 2 people: $42,000
- Family Income - 3 people: $47,250
- Family Income - 4 people: $52,500
- GNO Max Purchase Price $271,164