Wisconsin DPA Programs
Explore down payment and homebuyer assistance programs in the state of Wisconsin.
June 22, 2023
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Louisiana
Louisiana Down Payment Assistance (DPA) Programs
Located in the southeastern United States, Louisiana is the 18th state in the Union. It is known for the Mardi Gras Festival, jazz music, Creole and Cajun cultures, and more. The state’s capital is Baton Rogue and the largest city is New Orleans. With a population of nearly 4.6 million people, Louisiana boasts a homeownership rate of 69.6% (2022-U.S. Census Bureau).
DPA programs across the country continue to make homeownership possible for many. Below is a list of programs available in the state of Louisiana. Also, combining programs may be possible, so be sure to inquire.
In this article
City of Lake Charles Community Development Division
City of Shreveport Community Development
Jefferson Parish Community Development
Jefferson Parish Finance Authority
City of New Orleans Office of Community Development
Capital Area Finance Authority
Finance Authority of St. Tammany Parish
Lafayette Community Development & Planning Department
Lafayette Public Trust Financing Authority
St. Bernard Parish Home Mortgage Authority
City of Monroe Community Development
Louisiana Housing Corporation (LHC)
Market Rate GNMA Program
“This program offers 30-year, fixed-rate FHA, VA or USDA Rural Development mortgages at favorable interest rates. Amount of assistance ranges between 2-4%.”
Market Rate Conventional Program
“This program offers a conventional mortgage that allows for a higher loan value than FHA. Amount of assistance ranges between 3-4% and this program can help reduce PMI.”
MRB Home and Assisted Programs
“These programs are designed to help prospective homebuyers meet down payment and closing costs on their new home. Amount of assistance for the MRB Assisted Program is 4%. Assistance for the MRB Home program ranges between 5-9% depending on loan amount.”
Resilience Soft Second Program
“This program offers up to $55,000 Soft Second Assistance for down payment and up to $5,000 for Closing Cost. The program offers 30 year, fixed-rate FHA, VA, USDA, and Conventional loan products at favorable interest rates. Available in parishes affected by the Great Floods of 2016. Assistance is provided on an as needed basis.”
LHC Soft Second Program
“Provides Soft Second Assistance for down payment up to $30,000 and up to $5,000 Closing Cost Assistance. This program is available in designated disaster areas affected by Hurricane Isaac. Products include FHA, VA, RD and Conventional with a 30 year fixed interest rate. Assistance is provided on an as needed basis.”
Pathways to Homeownership Soft Second Program
“The Pathways to Homeownership Soft Second program is designed to cover the affordability gap between the maximum amount that a homebuyer can afford and the purchase price of the home.
- A Soft Second Loan of 20% of the purchase price up to $55,000.
- Up to $5,000 for Closing Costs for a total of up to $60,000.”
Delta 100 Program
“This $2 million, parish-specific program helps some first-time homebuyers who lack traditional credit but have demonstrated the ability, willingness, and commitment to homeownership through alternate avenues. LHC will provide up to 100% financing and up to 3% closing cost and prepayment assistance to eligible homebuyers.”
Mortgage Credit Certificate (MCC) Program
“Homebuyers who use the MCC program can take a federal tax credit of up to 40% of their annual mortgage interest payments for the life of their loan. This credit is capped at $2,000 per year.”
Premier Program
“The LHC offers conventional and government mortgages through its Premier Program. The program is not limited to first-time homebuyers.”
Keys for Service Program
“A housing assistance program designed to support Louisiana’s first responders, certified teachers, and essential workers. Our program is here to bridge that gap and make it easier and more affordable for our community heroes to purchase their dream homes.”
City of Lake Charles Community Development Division
Down Payment and Closing Cost Assistance Program
“Families are often unable to save the money needed for the down payment, closing costs and prepaid taxes and insurance. The City provides a portion of the necessary financing in the form of a forgivable second mortgage loan at zero percent interest for five years. The mortgage will depreciate an equal amount for a period of five years. At the end of the five year period, the mortgage will be forgiven..”
City of Shreveport Community Development
Home Buyers Assistance Program Participation Initiative (HAPPI)
“The maximum amount of assistance is up to 20% of the sales price of the property or appraised value; whichever is lesser, depending on percentage of area median income. Other incentives are available to applicants purchasing in designated home ownership zones approved by the Community Development Department.”
Jefferson Parish Community Development
First-Time Homebuyer Assistance Program
“The actual number of households that will be assisted is contingent upon the actual level of assistance received per client participating. Although the program allows assistance up to $50,000 per client, for Jefferson Parish and up to $60,000 per client for Kenner, this average should not be used as an expectation of benefit since the average level of assistance tends to change from year to year.”
Jefferson Parish Finance Authority (JPFA)
Southern Mortgage Assistance Program (SMAP)
“Competitive 30-year fixed rate, fully amortizing mortgage with 3%-4% assistance grant for either down payment and/or closing costs. Calculated as a percentage of the loan amount to qualifying home buyers for an FHA, VA or RHS loan.
The SMAP program is currently available for the purchase of a residence located within Jefferson, St. Charles, St. Tammany, and St. Bernard Parishes.”
Lagniappe Advantage Program (LAP)
“Equal to or Below 80% AMI: Historically low fixed interest rates for 30-year fully amortizing mortgage with 0%, 3% or 4% assistance for either down payment and/or closing costs. 80% – 140% AMI: Historically low fixed interest rates for 30-year fully amortizing mortgage with 0%, 3% or 4% assistance for either down payment and/or closing costs.
The LAP program is currently available for the purchase of a residence located within Jefferson, St. Charles, St. Tammany, and St. Bernard Parishes.”
Comfort of Home Program
“30-year, fixed rate first mortgages. Up to 4% down payment and closing cost assistance provided to borrower(s) in form of a second mortgage.”
Heroes to Homeowners Program
“Making dreams of home ownership come true to those who provide safety, care, and education to our community. $2500 Grant available to: Education Professionals, First Responders, and Healthcare Professionals. Grant is used in conjunction with an existing JPFA financing program.”
City of New Orleans Office of Community Development
Direct Homebuyer Soft Second Mortgage Assistance Program
“The Direct Homebuyer Soft Second Mortgage Assistance Program provides down payment and closing costs subsidies to eligible first- time homebuyers. Subsidies made available to Homebuyers Bridge the gap between the purchase price of the home and the maximum first mortgage loan amount. Subsidies also include closing costs.”
Capital Area Finance Authority (CAFA)
CAFA Gold 100
“The Assistance is the form of a forgivable 2nd lien and can provide up to 7% of the final loan amount. The Assistance is provided in the form of a 7 or 10-year forgivable second loan. Funds can be used towards your down payment, closing cost, prepaid items or buy out mortgage Insurance.”
Assurance Advantage Program
“The Assistance is the form of a forgivable 2nd lien and can provide up to 6% of the final loan amount. The Assistance is provided in the form of a 7-year forgivable second loan. Funds can be used towards your down payment, closing cost, prepaid items or buy out mortgage Insurance.”
Purchase Advantage Program
“The Assistance is the form of a grant with no repayment or recapture and provides up to 4% of the final loan amount. Funds can be used towards your down payment, closing cost, prepaid items or buy out mortgage Insurance.”
Capital Advantage Program
“The Assistance is the form of a grant with no repayment or recapture and provides up to 5% of the final loan amount. Funds can be used towards your down payment, closing cost, prepaid items or buy out mortgage Insurance.”
Eustis Edge Program
“The Assistance is the form of a forgivable 2nd lien and can provide up to 6% of the final loan amount. The Assistance is provided in the form of a 7 or 10-year forgivable second loan. Funds can be used towards your down payment, closing cost, prepaid items or buy out mortgage Insurance.”
CAFA Platinum Program
“New program coming soon.”
Finance Authority of St. Tammany Parish
Southern Mortgage Assistance Program (SMAP)
“Competitive 30-year fixed rate, fully amortizing mortgage with 3%-4% assistance grant for either down payment and/or closing costs. Calculated as a percentage of the loan amount to qualifying home buyers for an FHA, VA or RHS loan.
The SMAP program is currently available for the purchase of a residence located within Jefferson, St. Charles, St. Tammany, and St. Bernard Parishes.”
Lagniappe Advantage Program (LAP)
“Competitive 30-year fixed rate, fully amortizing mortgage with 0%-4% assistance grant for either down payment and/or closing costs.
The LAP program is currently available for the purchase of a residence located within Jefferson, St. Tammany, St. Charles and St. Bernard Parishes. “
Lafayette Community Development & Planning Department
First-time Homebuyer Program
“The Housing Loans Section administers programs that assist low- and moderate-income households in obtaining affordable first-time home mortgages. Participants must meet income requirements and must purchase a home within Lafayette Parish.”
Lafayette Public Trust Financing Authority (LPTFA)
First-time Homebuyers Program (FTHP)
“The FTHP Down Payment Assistance loan is a loan up to $8,000 at 5.0% interest which may be applied toward down payment and/or closing costs. This loan is secured with a second mortgage.”
Single-Family Revenue Bonds
“This program is a financing vehicle that allows the LCDF (Lafayette Comunity Development Fund) to create mortgage financing that includes down payment assistance and very low fixed rates for low- to moderate-income families.”
St. Bernard Parish Home Mortgage Authority
CAFA Down Payment Assistance
“Owning a home could be much easier than you think! Qualified buyers may be able to receive ‘Gifts’ to help with their down payments and/or closing costs when buying a home in St. Bernard Parish.”
Southern Mortgage Assistance Program (SMAP)
“Competitive 30-year fixed rate, fully amortizing mortgage with 3%-4% assistance grant for either down payment and/or closing costs. Calculated as a percentage of the loan amount to qualifying home buyers for an FHA, VA or RHS loan.
The SMAP program is currently available for the purchase of a residence located within Jefferson, St. Charles, St. Tammany, and St. Bernard Parishes.”
City of Monroe Community Development
Home in Monroe Program
“The Home In Monroe Program is dedicated to providing investment to promote home ownership in the city of Monroe, Louisiana. In partnership with J.P. Morgan Chase Foundation, Mt. Pleasant CDC, Mid-City Redevelopment Alliance, and the City of Monroe Department of Planning and Urban Development, the program aims to provide Financial Coaching, HUD Certified Housing Counseling, Rent Reporting, and Down Payment/Closing Cost Assistance to support First-Time Homebuyers within the city Limits of Monroe.”
Federal Home Loan Bank (FHLBank) Dallas
States/Territories served: Arkansas. Louisiana, Mississippi, New Mexico, Texas
Homebuyer Equity Leverage Partnership (HELP) Program
“Through member institutions, HELP assists low-income-qualified, first-time homebuyers with down payment assistance and closing costs.”
USDA Rural Development
Single Family Housing Direct Home Loans
“Also known as the Section 502 Direct Loan Program, this program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Payment assistance is a type of subsidy that reduces the mortgage payment for a short time.”
Habitat for Humanity
Habitat Home
“We believe that everyone should have a safe, affordable place to call home. To carry out our vision, we partner with individuals and families from application through construction to when the keys are handed over.”
The next blog post in our series will explore down payment assistance programs in Maine.
In this article:
City of Lake Charles Community Development Division
City of Shreveport Community Development
Jefferson Parish Community Development
Jefferson Parish Finance Authority
City of New Orleans Office of Community Development
Capital Area Finance Authority
Finance Authority of St. Tammany Parish
Lafayette Community Development & Planning Department
Lafayette Public Trust Financing Authority
St. Bernard Parish Home Mortgage Authority
City of Monroe Community Development
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