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LHC Preferred 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 Preferred Conventional Program.

The program is not limited to first-time homebuyers. It is available to potential homebuyers with annual household incomes up to $99,000.

Read on to find out if this program is right for your prospective homebuyer.

 

Program Details

  • Competitive 30-year fixed rate
  • Available for purchase of single family housing (1-2 unit principal residence)
  • Maximum loan amount of $417,000
  • The property must be located in Louisiana
  • Maximum income limit of $99,000
  • Minimum credit score of 640
  • 97% LTV 1-unit and 95% LTV 2-unit property
  • 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

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