Resilience Soft Second Mortgage Program

The Louisiana Housing Corporation (LHC) is excited to launch the new Resilience Soft Second Mortgage Program on Monday, November 4, 2019 beginning with reservations at 11:00 AM.

Guidelines for the Resilience Soft Second Mortgage Program are attached for your review. Please review in detail. You will notice that the guidelines are similar to the previous LHC Soft Second Program however there are several major changes including but not limited to:

Soft Second Assistance – 20% of Purchase Price up to $55,000 to cover the affordability gap between the sales price and the price affordable to the qualifying borrower;
Properties must be located in one of the 51 designated parishes affected by the Great Floods of 2016; and
Properties located in a flood zone are ineligible – Acceptable Flood Zones are “X” and “X Protected by Levee” – ONLY.

Lenders will continue to fund the amount of the soft second at closing and LHC will fund the closing cost assistance. Lenders are responsible for the cost of express mailing legal documents. Procedures to request closing cost assistance funds have not changed.

As a reminder, all original Resilience Soft Second Mortgage Program legal documents, (Soft Second Mortgage Instrument, Soft Second Promissory Note and Closing Cost Promissory Note), should be delivered to Louisiana Housing Corporation, 2415 Quail Drive, Baton Rouge, LA 70708, Attention: Single Family Department.

LHC continues to work diligently to offer a variety of programs that can assist Louisiana citizens and with the success of the prior LHC Soft Second Program, we know The Resilience Program will assist many to reach their homeownership dreams.

If you have any questions, please email singlefamily@lhc.la.gov.

Lender Guide for Resilience Soft Second Program