Being a first time home buyer in Louisiana can be scary. We found so many resources to help make it easier for you. We even found some ways to help you get your home with just a little money down!
Programs are available if you’re a first time home buyer in Louisiana.
The USDA loan is one of the only home loans that allow you to get 100% financing and roll the closing costs into your loan. If you’re a first time home buyer in Louisiana, the USDA loan might help you. Keep in mind the loan is only available to those who are in rural areas, but 97% of the United States is considered a rural area. You might just have to look for a home that’s a little out of the city.
Louisiana’s housing corporation offers some down payment and closing cost assistance. This assistance can be used in combination with other programs. While the program may not be able to pay for your entire down payment or closing costs, it could reduce them.
The Delta 100 mortgage is specific to anyone who is a first time home buyer in Louisiana. It’s limited to people who are low or moderate income and could depend on where you’re purchasing your house. The program allows you to get up to 100% financing depending on the house you’re purchasing. It could also help you pay for some closing costs. You do not need to have traditional good credit to use this program.
Use these resources to get more help.
If you’re interested in building a new home and are very low-income, you could get help from Habitat for Humanity. The organization prioritizes by need and will look at each situation individually. You will have to put in some work while building the house and it must meet certain requirements. The Habitat for Humanity works with people who are in desperate need of housing and who need a safe place to live.
The MCC offers lower rates and you can even get a tax credit if you sign up for this type of assistance. The program is for you if you’re a first time home buyer in Louisiana and can help you lower the amount you pay overall on your mortgage.
Veteran? First time home buyer in Louisiana? You could get help!
If you’re a veteran and a first time home buyer in Louisiana, you could qualify for a VA home loan. This loan allows you to save a lot of money on interest rates. The VA loan allows you to do 100% financing and does not even require you to put money down on the house.
Parishes also offer assistance for first time home buyers in Louisiana.
The cities and parishes might be able to offer more help if you’re a first time home buyer in Louisiana. This help is available for people who don’t qualify for help through the state or for people who want to use that help in addition to other resources.
Shreveport residents who are considering homeownership might be able to get help through the city. Shreveport offers buyer assistance with down payment assistance and reduced rate programs. The city also offers counseling programs to help you prepare for homeownership. You might be able to get lower rates on homes in areas Shreveport is trying to develop.
The City of Lake Charles might be able to help you if you’re a first time home buyer in Louisiana. They have programs that help with down payments and assistance toward closing costs. Their community development department works with those struggling to obtain homeownership in the city.
East Baton Rouge Parish
Baton Rouge residents who are considering buying their first home in the city might be able to get help through the housing development agency. The department works to provide incentives for home buyers and first-time home buyers in Louisiana who are trying to move to Baton Rouge. The program might be able to help you pay for a portion of your down payment or for closing costs on the home.
If you’re considering purchasing a home in Kenner, you might be able to get help through the city. There are many offerings including options for you to lower your mortgage rates. Kenner works with first time home buyers to help them get started in the city. The departments work together to help some people with down payment assistance. There are many options the housing agency has in Kenner.
Buying a home anywhere in Jefferson Parish? You might be able to get help with the home. You can get help buying the home, with counseling and even with down payment assistance. The county works toward making the housing areas better and they offer incentives to those interested in purchasing a home in the parish.
If you’re purchasing a home in Monroe, you might be able to get help through the urban development and community development agencies. The planning committees work with low-income and moderate-income families to provide them with assistance toward making homeownership a possibility. You must apply for any type of assistance through the program. You might also have to show proof of counseling and financial responsibility before getting approved.
The community development in Alexandria City could help you if you’re a first time home buyer in Louisiana. The city works with people who are low-income and who are hoping to purchase a home in Rapides Parish. The program is intended for those moving into the city and those who want to participate in beautification efforts.
If you’re a first time home buyer in Louisiana hoping to buy in Terrebonne Parish, you might be able to get help through the community development agency. The agency works to help those who are in need of down payment assistance and even closing cost assistance. Not only can the agency help you with costs but they can also help you find the perfect home through their community development efforts.