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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.
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:
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.
Find out about the Market Rate Conventional program with our FAQ document. Learn More
Use this helpful mortgage calculator to determine your monthly payment amount and help budget for your new home. Go to calculator
Find approved lenders in your area here. Learn More
The LHC offers several programs that can assist eligible homebuyers reduce their down payments. See programs offering down payment assistance. Learn More