Louisiana Home Starts Here Program Highlights
HomeStart Assist
LHC HomeStart Assist | At-A-Glance
| AVAILABLE PROGRAMS | HomeStart Assist (Formerly MRB Assisted) |
| ELIGIBLE AREA | State of Louisiana |
| ELIGIBLE BORROWER(S) | The borrower and spouse may not have owned a principal residence during the previous three years. |
| RATES | See Chart |
| DPA AVAILABLE | 4% of the total loan amount as a 0% interest, forgivable second mortgage; forgiven after five years of continued owner occupancy. |
| LOAN TYPE | FHA, VA, RD, Fannie Mae HFA Preferred and Freddie Mac HFA Advantage |
| INCOME LIMITS | HomeStart Assist Income Limits |
| PURCHASE PRICE LIMITS | HomeStart Assist Purchase Price Limits |
| TIMELINE REQUIREMENTS | Reservation to Loan Purchase = 60 calendar days |
| HOMEBUYER EDUCATION | Approved homebuyer education providers |
| TARGETED AREAS | Targeted Area Census Tracts |
| CO-SIGNERS | Follow Agency and GSE guidelines. Co-signer cannot live in the property and cannot have ownership interest. |
| PROGRAM GUIDELINES | Home Starts Here Guidelines |
| PRE-CLOSING DOCUMENTS | Notices to Buyers and Recapture Tax Brochure |
| PARTICIPATING LENDERS | Louisiana Home Starts Here Participating Lenders |
HomeStart Plus
LHC HomeStart Plus | At-A-Glance
| AVAILABLE PROGRAMS | HomeStart Plus (Formerly Pathways) |
| ELIGIBLE AREA | Available only in designated Louisiana parishes affected by Hurricanes Laura, Delta, or Ida. Review the Eligible Parishes here. |
| ELIGIBLE BORROWER(S) | The borrower and spouse may not have owned a principal residence during the previous three years.Household income, assets, borrower contribution, and other CDBG eligibility requirements apply. |
| RATES | See Chart |
| DPA AVAILABLE | Need-based assistance equal to 20% of the purchase price, up to $55,000, as a 0% deferred second mortgage. Up to $5,000 may also be provided for eligible closing costs and prepaid items, for total assistance of up to $60,000. |
| LOAN TYPE | FHA, VA, RD, Fannie Mae HFA Preferred and Freddie Mac HFA Advantage |
| INCOME LIMITS | HomeStart Plus Income Limits |
| LOAN AMOUNT | The loan amount may not exceed the allowable FHA loan limit. |
| TIMELINE REQUIREMENTS | Reservation to Loan Purchase = 60 calendar days |
| HOMEBUYER EDUCATION | Approved homebuyer education providers |
| CDBG REQUIREMENTS | HomeStart Plus is funded with CDBG disaster-recovery funds. Household income and assets must be documented, and the borrower must satisfy all duplication-of-benefits and federal compliance requirements. |
| CO-SIGNERS | Follow Agency and GSE guidelines. Co-signer cannot live in the property and cannot have ownership interest. |
| PROGRAM GUIDELINES | Home Starts Here Guidelines |
| PARTICIPATING LENDERS | Louisiana Home Starts Here Participating Lenders |
HomeStart Advantage
LHC HomeStart Advantage | At-A-Glance
| AVAILABLE PROGRAMS | HomeStart Advantage (Formerly Keys for Service) |
| ELIGIBLE AREA | State of Louisiana |
| ELIGIBLE BORROWER(S) | No first-time buyer requirement, borrower may not own another residential property at closing. |
| RATES | See Chart |
| DPA AVAILABLE | 4% of the total Note amount as a 0% interest, forgivable second mortgage; forgiven monthly at 1/60 over five years of continued owner occupancy. |
| LOAN TYPE | FHA, VA, RD, Fannie Mae HFA Preferred and Freddie Mac HFA Advantage |
| INCOME LIMITS | $125,000 annual household income. |
| LOAN LIMITS | The loan amount may not exceed the allowable FHA loan limit. |
| TIMELINE REQUIREMENTS | Reservation to Loan Purchase = 60 calendar days |
| HOMEBUYER EDUCATION | Approved homebuyer education providers |
| CO-SIGNERS | Follow Agency and GSE guidelines. Co-signer cannot live in the property and cannot have ownership interest. |
| PROGRAM GUIDELINES | Home Starts Here Guidelines |
| PARTICIPATING LENDERS | Louisiana Home Starts Here Participating Lenders |
HomeStart Ready
LHC HomeStart Ready | At-A-Glance
| AVAILABLE PROGRAMS | HomeStart Ready (Formerly Premier) |
| ELIGIBLE AREA | State of Louisiana |
| ELIGIBLE BORROWER(S) | No first-time buyer requirement |
| RATES | See Chart |
| DPA AVAILABLE | 0%, 3%, or 4% of the final first mortgage amount, based on the selected interest rate as a 0% interest, forgivable second mortgage; forgiven monthly at 1/36 over three years of continued owner occupancy. |
| LOAN TYPE | FHA, VA, RD, Fannie Mae HFA Preferred and Freddie Mac HFA Advantage |
| INCOME LIMITS | $99,000 qualifying borrower income. |
| LOAN LIMITS | There are no purchase price limits in this program. Follow Agency and GSE guidelines for maximum loan limits. |
| TIMELINE REQUIREMENTS | 70 days from Reservation to Loan Purchase. Underwriter Certification any time prior to closing. |
| HOMEBUYER EDUCATION | Approved homebuyer education providers |
| CO-SIGNERS | Follow Agency and GSE guidelines. Co-signer cannot live in the property and cannot have ownership interest. |
| PROGRAM GUIDELINES | Home Starts Here Guidelines |
| PARTICIPATING LENDERS | Louisiana Home Starts Here Participating Lenders |
Today’s Rates & Offerings
LHC HomeStart | Rates & Offerings
| [ Business Days 9:00am - 6:00 pm CT ] | |||||
|---|---|---|---|---|---|
| Offering | FICO | DPA | Lock Rate | ||
| HomeStart Assist (Formerly MRB Assisted) | |||||
| FHA, VA, USDA-RD | 640 | 4% | 6.500% | ||
| Fannie Mae HFA Preferred 80% AMI Freddie Mac HFA Advantage 80% AMI | 640 | 4% | 6.500% | ||
| HomeStart Plus (Formerly Pathways) | |||||
| FHA, USDA-RD, VA | 640 | $55,000 2nd and $5,000 Grant | 6.875% | ||
| Fannie Mae HFA Preferred Freddie Mac HFA Advantage | 640 | $55,000 2nd and $5,000 Grant | 7.125% | ||
| HomeStart Advantage (Formerly Keys for Service) | |||||
| FHA, USDA-RD, VA | 640 | 4% | 7.150% | ||
|
Fannie Mae HFA Preferred 80% AMIFreddie Mac HFA Advantage 80% AMI Fannie Mae HFA Preferred >80% AMIFreddie Mac HFA Advantage >80% AMI |
640 | 4% | 7.150% | ||
| HomeStart Ready (Formerly Premier) | |||||
| FHA, USDA-RD, VA | 640 | 0% | 6.875% | ||
| Fannie Mae HFA Preferred 80% AMI Freddie Mac HFA Advantage 80% AMI | 640 | 0% | 7.125% | ||
| Fannie Mae HFA Preferred >80% AMI Freddie Mac HFA Advantage >80% AMI | 640 | 0% | 7.250% | ||
HomeStart Assist
LHC HomeStart Assist | At-A-Glance
| AVAILABLE PROGRAMS | HomeStart Assist (Formerly MRB Assisted) |
| ELIGIBLE AREA | State of Louisiana |
| ELIGIBLE BORROWER(S) | The borrower and spouse may not have owned a principal residence during the previous three years. |
| RATES | See Chart |
| DPA AVAILABLE | 4% of the total loan amount as a 0% interest, forgivable second mortgage; forgiven after five years of continued owner occupancy. |
| LOAN TYPE | FHA, VA, RD, Fannie Mae HFA Preferred and Freddie Mac HFA Advantage |
| INCOME LIMITS | HomeStart Assist Income Limits |
| PURCHASE PRICE LIMITS | HomeStart Assist Purchase Price Limits |
| TIMELINE REQUIREMENTS | Reservation to Loan Purchase = 60 calendar days |
| HOMEBUYER EDUCATION | Approved homebuyer education providers |
| TARGETED AREAS | Targeted Area Census Tracts |
| CO-SIGNERS | Follow Agency and GSE guidelines. Co-signer cannot live in the property and cannot have ownership interest. |
| PROGRAM GUIDELINES | Home Starts Here Guidelines |
| PRE-CLOSING DOCUMENTS | Notices to Buyers and Recapture Tax Brochure |
| PARTICIPATING LENDERS | Louisiana Home Starts Here Participating Lenders |
HomeStart Plus
LHC HomeStart Plus | At-A-Glance
| AVAILABLE PROGRAMS | HomeStart Plus (Formerly Pathways) |
| ELIGIBLE AREA | Available only in designated Louisiana parishes affected by Hurricanes Laura, Delta, or Ida. Review the Eligible Parishes here. |
| ELIGIBLE BORROWER(S) | The borrower and spouse may not have owned a principal residence during the previous three years.Household income, assets, borrower contribution, and other CDBG eligibility requirements apply. |
| RATES | See Chart |
| DPA AVAILABLE | Need-based assistance equal to 20% of the purchase price, up to $55,000, as a 0% deferred second mortgage. Up to $5,000 may also be provided for eligible closing costs and prepaid items, for total assistance of up to $60,000. |
| LOAN TYPE | FHA, VA, RD, Fannie Mae HFA Preferred and Freddie Mac HFA Advantage |
| INCOME LIMITS | HomeStart Plus Income Limits |
| LOAN AMOUNT | The loan amount may not exceed the allowable FHA loan limit. |
| TIMELINE REQUIREMENTS | Reservation to Loan Purchase = 60 calendar days |
| HOMEBUYER EDUCATION | Approved homebuyer education providers |
| CDBG REQUIREMENTS | HomeStart Plus is funded with CDBG disaster-recovery funds. Household income and assets must be documented, and the borrower must satisfy all duplication-of-benefits and federal compliance requirements. |
| CO-SIGNERS | Follow Agency and GSE guidelines. Co-signer cannot live in the property and cannot have ownership interest. |
| PROGRAM GUIDELINES | Home Starts Here Guidelines |
| PARTICIPATING LENDERS | Louisiana Home Starts Here Participating Lenders |
HomeStart Advantage
LHC HomeStart Advantage | At-A-Glance
| AVAILABLE PROGRAMS | HomeStart Advantage (Formerly Keys for Service) |
| ELIGIBLE AREA | State of Louisiana |
| ELIGIBLE BORROWER(S) | No first-time buyer requirement, borrower may not own another residential property at closing. |
| RATES | See Chart |
| DPA AVAILABLE | 4% of the total Note amount as a 0% interest, forgivable second mortgage; forgiven monthly at 1/60 over five years of continued owner occupancy. |
| LOAN TYPE | FHA, VA, RD, Fannie Mae HFA Preferred and Freddie Mac HFA Advantage |
| INCOME LIMITS | $125,000 annual household income. |
| LOAN LIMITS | The loan amount may not exceed the allowable FHA loan limit. |
| TIMELINE REQUIREMENTS | Reservation to Loan Purchase = 60 calendar days |
| HOMEBUYER EDUCATION | Approved homebuyer education providers |
| CO-SIGNERS | Follow Agency and GSE guidelines. Co-signer cannot live in the property and cannot have ownership interest. |
| PROGRAM GUIDELINES | Home Starts Here Guidelines |
| PARTICIPATING LENDERS | Louisiana Home Starts Here Participating Lenders |
HomeStart Ready
LHC HomeStart Ready | At-A-Glance
| AVAILABLE PROGRAMS | HomeStart Ready (Formerly Premier) |
| ELIGIBLE AREA | State of Louisiana |
| ELIGIBLE BORROWER(S) | No first-time buyer requirement |
| RATES | See Chart |
| DPA AVAILABLE | 0%, 3%, or 4% of the final first mortgage amount, based on the selected interest rate as a 0% interest, forgivable second mortgage; forgiven monthly at 1/36 over three years of continued owner occupancy. |
| LOAN TYPE | FHA, VA, RD, Fannie Mae HFA Preferred and Freddie Mac HFA Advantage |
| INCOME LIMITS | $99,000 qualifying borrower income. |
| LOAN LIMITS | There are no purchase price limits in this program. Follow Agency and GSE guidelines for maximum loan limits. |
| TIMELINE REQUIREMENTS | 70 days from Reservation to Loan Purchase. Underwriter Certification any time prior to closing. |
| HOMEBUYER EDUCATION | Approved homebuyer education providers |
| CO-SIGNERS | Follow Agency and GSE guidelines. Co-signer cannot live in the property and cannot have ownership interest. |
| PROGRAM GUIDELINES | Home Starts Here Guidelines |
| PARTICIPATING LENDERS | Louisiana Home Starts Here Participating Lenders |