The Authority’s programs are currently extended to homes in the nine-parish region including Pointe Coupee, West Feliciana, East Feliciana, St. Helena, West Baton Rouge, East Baton Rouge, Iberville, Ascension and Livingston.
You may be eligible if the home you purchase is in one of the nine parishes, the home is your primary residence, and you meet all the other qualifications.
Credit requirements vary between the various types of mortgage loans that are available. The company that originates your loan will explain the credit requirements for the specific mortgage program under which you plan to borrow. A minimum credit score of 640 is required.
Your family maximum income is calculated from the day you close on your loan to 12 months past that date. For example, if you meet the maximum income requirement on the day that you plan to close on your mortgage, but your spouse is starting a new job with pay that will place you OVER the maximum family income limit, then you might not be eligible for our program.
No, the assistance provided by The Authority is a grant of up to 5% of the mortgage loan amount.
The Authority’s mortgages are originated through our participating lenders. Participating Lenders
The down payment that is required can vary from program to program. The Authority’s assistance grant funds can be applied toward a down payment. Some programs require little or no down payment.
Yes, the current program has no first-time homebuyer requirement.
The Authority does not provide mortgages directly. All mortgages are originated through one of our participating lenders. You should contact one of them to determine eligibility. This web site discusses some of the basic eligibility requirements.
No. The Authority’s program is for 30-year fixed-rate mortgages.