In keeping with its mission to ensure that every Louisiana resident is granted an opportunity to obtain safe, affordable, energy-efficient housing, the Pathways to Homeownership Soft Second program is designed to cover the affordability gap between the maximum amount that a homebuyer can afford and the purchase price of the home.
Read on to find out if this program is right for you.
A first-time homebuyer is an individual who meets any one of the following criteria:
This program is specifically designed for individuals with an annual household income at or below 80% of the Area Median Income (AMI). Properties cannot be located in a flood zone.
Repayment of the principal amount of the Pathway To Homeownership soft second loan shall be deferred until the loan is extinguished upon sale or refinance. In other words, if the homebuyer occupies the home for the full ten year term, then the soft second loan will be forgiven.
Acadia, Allen, Beauregard, Ascension, Assumption, Caddo, Calcasieu, Cameron, East Baton Rouge, East Feliciana, Grant, Iberia, Iberville, Jackson, Jefferson, Jefferson Davis, Lafayette, Lafourche, LaSalle, Lincoln, Livingston, Morehouse, Natchitoches, Orleans, Ouachita, Plaquemines, Pointe Coupee, Rapides, Sabine, St. Bernard, St. Charles, St. Helena, St. James, St. John, St. Landry, St. Martin, St. Mary, St. Tammany, Tangipahoa, Terrebonne, Union, Washington, West Baton Rouge, West Feliciana, Vermilion, Vernon and Winn.
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