MRB Home Program
Louisiana Housing Corporation (LHC), via Mortgage Revenue Bond financing and network of approved participating lenders
Amount: Below-market-rate 30-year fixed mortgage paired with an optional forgivable grant of 5% to 9% of the loan amount (exact percentage depends on loan amount) for down payment and closing costs — no interest, no repayment required if terms are met
Type: Grant (forgivable, paired with first mortgage) — not a repayable loan
Must be a first-time homebuyer (no home ownership in the past 3 years, unless purchasing in a designated targeted area); household income at or below 80% of Area Median Income (AMI); minimum credit score of 640; must complete a LHC-approved homebuyer education course; property must be in Louisiana and used as primary residence
MRB Assisted Program
Louisiana Housing Corporation (LHC)
Amount: Below-market-rate 30-year fixed mortgage plus a soft-second loan equal to 4% of the mortgage amount for down payment/closing costs, forgiven after 3 years if occupancy requirements are met
Type: Soft-second forgivable loan (0% interest, forgiven after 3-year residency requirement)
First-time homebuyer required (waived for targeted census tracts); income at or below 80% AMI generally (up to 140% AMI permitted in designated Targeted Census Tracts); minimum credit score of 640; homebuyer education course required
LHC Preferred Conventional Program
Louisiana Housing Corporation (LHC), used with a conventional first mortgage
Amount: Assistance funds of up to 4% of the total purchase price, usable for down payment, closing costs, and/or prepaid items
Type: Grant/assistance funds paired with a conventional loan (higher LTV allowed, no upfront mortgage insurance premium)
Not restricted to first-time buyers; household income cannot exceed a flat $99,000 cap regardless of family size or parish; minimum credit score of 640; first-time buyers must complete homebuyer education
Pathways to Homeownership / Resilience Soft Second Mortgage Program
Louisiana Housing Corporation (LHC), funded via CDBG disaster-recovery allocations, limited to specific eligible parishes (varies by program — e.g., Allen, Acadia, Ascension among others)
Amount: Soft-second loan of up to 20% of purchase price (capped at $55,000) for down payment, plus up to $5,000 grant for closing costs — total assistance up to $60,000; 0% interest; fully forgiven after 10 years of occupancy (repayable only on early sale/refinance)
Type: Soft-second forgivable loan + closing cost grant
First-time homebuyer required; household income at or below 80% AMI; minimum credit score of 640; property must be located in an eligible hurricane/disaster-recovery parish (availability varies by specific parish and which of the two overlapping programs applies); homebuyer education required