Market Rate Conventional 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 a conventional mortgage through its Market Rate Conventional Program.

The program is not limited to first-time homebuyers. It is available to potential homebuyers with a maximum allowed 80% AMI (Area Median Income) by Parish and Household size.

Read on to find out if this program is right for you.

Program Details

  • Competitive 30-year fixed rate
  • Available for purchase of single family housing (1 unit principal residence)
  • Maximum loan amount of $453,100
  • The property must be located in Louisiana
  • Maximum allowed 80% AMI by Parish and Household size.
  • Minimum credit score of 640
  • 97% LTV 1-unit 
  • Homebuyer education required for first-time homebuyers 

Program Benefits

  • Up to 4% assistance for down payment, closing costs and/or prepaid items
  • No origination or discount fees
  • First-time homebuyer requirement does not apply
  • Reduced mortgage insurance
  • No additional bond documents or compliance package


Determine If This Program Is Right for You

Not all prospective homebuyers are eligible for this program. To determine if the Market Rate ConventionalProgram is right for you, follow these simple steps:

STEP #1 – Determine your income: The maximum annual household income is bases on 80% AMI by parish.

STEP #2 – Choose a lender:

  • Select a lender. Find approved lenders here
  • Make an appointment to be pre-qualified.
  • Meet with the lender to:
    • Complete a loan application
    • Order credit report
    • Pre-qualify for a mortgage loan

STEP #3 – Select a Realtor: Begin your home search; once you have signed a purchase agreement, return to the lender to complete the loan process.

STEP #4 – Reserve Funds: The lender will reserve the assistance funds for you with Louisiana Housing Corporation and complete all the remaining processes from loan application to loan closing.



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