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LHC 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 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 $484,350
    • 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 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

      Resources

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