Housing Assistance for Low-Income in Louisiana

There are various non-profit and state programs run to provide housing and support services to low-income families and other vulnerable groups such as the disabled, single moms, and those with special needs. Most of these programs are administered at the state level but it is the local housing agencies that operate the programs and ensure the housing needs of the residents are addressed.

Louisiana Housing Corporation (LHC)

The Louisiana Housing Corporation aims provide access to sanitary, affordable, and energy-efficient housing among the low-income families within the state. The Louisiana Corporation works with a staff of professionals who allocates funds to different programs to make the American housing dream a reality for the Louisianans. The Louisiana Housing Corporation administers most of the state and the federal housing support programs. These programs assist low-income renters, homeowners, developers, and people with special needs to meet their immediate housing needs. Find out more at https://www.lhc.la.gov/.

Home Investment Partnership Program (HOME)| Mortgage Revenue Bond (MRB) Program

The purpose of this program is to provide support to low-income families with 80% Area Median Income or below and may need assistance in covering closing costs and making down payments. They provide below market level interest rates. Who qualifies for MRB Program? You must be a first-time homebuyer and a resident of Louisiana. The purchase price for the property you are looking to buy must not exceed the purchase limits of HOME. Your credit score should be at least 640. The down payment and closing cost support range from 5% to 9%, depending on the amount of loan you are applying for. Please visit https://www.lhc.la.gov/mrb-homebuyers for more details.

The Mortgage Revenue Bond Assisted Program

The program provides homebuyer assistance to low-income families who may find it difficult to make down payments and closing costs. The interest rates for this program are mostly at the market level. Unless your property is situated in the targeted area, you must meet the first-time homebuyer requirements. Please note that if your home is situated in the targeted area, your level income might go up to 140% of the area median income to qualify for support. Have a minimum credit score of 640. Find out more at https://www.lhc.la.gov/mrb-homebuyers.

Mortgage Credit Certificate Program

Louisiana Housing Corporation is committed to improving low-income housing opportunities to ensure all residents of Louisiana obtain safe and energy-efficient housing. The program offers housing services to veterans and low-income families who are buying a home for the first time. Qualified applicants for the program can take up to 40% of the annual mortgage interest payments as a federal tax credit. Want to find out if this program is right for you? Determine your income and ensure it meets the low-income eligibility requirements. You will continue to get the program assistance if you maintain the property and use it as your primary residence. With this program, you can increase your disposable income in a short period. Find out more at https://www.lhc.la.gov/mcc-homebuyers.

Market Rate Government National Mortgage Association (GNMA) Program

The Market Rate GNMA program is administered by the Louisiana Housing Corporation and it is committed to proving quality housing to low-income families at affordable market rates. The program provides up to 30 years of Federal Housing Administration (FHA), Veterans Affairs (VA), and USDA Rural Development fixed-rate mortgages at favorable interest rates. Your income must not be more than 115% of the area’s median income and have at least a 640 credit score. With this program, you get up to 4% of closing cost and down payment assistance. Visit https://www.lhc.la.gov/gnma-homebuyers for more details about the Market Rate GNMA Program.

Market Conventional Program

Louisiana Housing Corporation offers support to first-time homebuyers in need of assistance with closing costs and making down payments through the market rate conventional program. To qualify for this program, you must meet the first-time homebuyer requirements and have income not exceeding 80% of Area Median Income You also get access to program benefits, including reduced mortgage insurance and no fees on origination or discount. Visit https://www.lhc.la.gov/preferred-homebuyers.

Reliance Soft Second Program

The Reliance Soft Second Program provides support with closing costs and down payment of up to $5,000 and $ 55,000. The program offers FHA, VA, USDA, and conventional loans of up to 30 years at fixed interest rates. The program assistance is provided based on the level of need. This program aims to assist low-income families whose incomes cannot allow them to fully pay for homeownership costs. The program was launched as a result of a collaboration between the Louisiana Housing Corporation and the State’s Office of Community Development. Your income must be or below 80% of the area median income. There is also a second loan of 20% of the total buying price of your new home. Remember, the loans you will get from this program do not charge any interest. The loans are also forgivable when you maintain your residence in the property for at least ten years. To qualify for this program support, you must under a homebuyer education course, which can be offered by HUD-certified Housing Counseling Agency. You can also access homebuyer education online. You should be able to contribute at least 1% of the home purchase price towards the down payment. Please read more about the program at https://www.ncsha.org/hfa-news/louisiana-housing-corporation-launches-new-program-to-assist-first-time-homebuyers-in-areas-affected-by-2016-floods/#:~:text=The%20Resilience%20Soft%20Second%20Program,purchase%20price%20of%20a%20home.&text=The%20assistance%20includes%20a%20soft,to%20%245%2C000%20for%20closing%20costs.

Louisiana Housing Corporation’s Soft Second Program

The Soft Second Program works to provide support for closing costs and a down payment of up to $5,000 and $30,000, respectively. The program is offered to individuals residing in areas affected by Hurricane Isaac. The loan products the program provides include FHA, VA, and conventional loans, which are payable over 30 years. The program assistance is provided depending on the level of need. Find out more at https://www.ncsha.org/hfa-news/louisiana-housing-corporation-launches-new-program-to-assist-first-time-homebuyers-in-areas-affected-by-2016-floods/.

Delta 100 Program

The LHC provides the Delta 100 Program which is designed to improve opportunities for affordable housing to the low-income. The program is offered to first-time homebuyers who need little support to achieve their dream of finally becoming homeowners. To qualify for the program assistance, you must demonstrate the ability and willingness to become a homeowner as well as your past trials to purchase a home without success. Is the Delta 100 Program right for your circumstances? The program provides 100% financial support and up to 3% of closing cost assistance. You must also complete a homebuyer education course. You must be willing to put an investment of at least 1% of the buying price. The program loans of up to $242,000. Remember, your income must not exceed 80% of the AMI. Find out more at https://www.lhc.la.gov/delta-homebuyers.

Homeownership Education Counseling Program

The LHC understands the need for homeownership among the residents as well as the costs and responsibilities that come with it. For this reason, the LHC runs the Homeownership Education Counseling Program intending to prepare the potential homeowners for the future task ahead of them. The program helps qualified homeowners to make the most out of their dream by making them understand the rights and the obligations that come with homeownership. Through the program, LHC arranges workshops that are meant to help your get prepared in terms of budgeting, responsibility, and savings. In other words, the program assigns you a homeowner education counselor who helps you analyze your financial situation and helps you come up with a reasonable budget that suits your needs. The homeowner education counselors also help you find the resources, including loans that will help you achieve your homeownership desires. You will be guided on how to get to a homeowner class when your schedule permits you to do so. At the end of your course, you will be certified. Louisiana Housing Corporation provides homeownership education at no cost to qualified persons. Visit http://lhc.la.gov/events to apply. Find out more at https://www.lhc.la.gov/counseling-homebuyers.

Low-Income Housing Tax Credit Program

The purpose of this program is to increase the number of affordable housing units for low-income families in Louisiana. This program provides financial assistance to help in the construction and rehabilitation of buildings for more affordable housing opportunities. The program provides incentives to private investors and developers to help in creating more affordable housing opportunities for low-income families. Want to apply? Well, visit https://www.lhc.la.gov/cs/c/.

Non-Profit Open Cycle Affordable Housing Program (NOAH)

This program is funded by HOME to develop affordable single-family homeownership units. LHC allocates the funds to the nonprofits that provide housing services in Louisiana. The program finance can be put to rehabilitating or construction of affordable homes for the low-income. the rental development funds for the program are used to creating permanent multifamily housing units for low-income qualified individuals and households. The private developers or investors may construct new buildings or rehabilitate the vacant ones to satisfy the housing needs of the residents of Louisiana. The program assistance is provided on a first-come, first-serve basis. Visit https://www.lhc.la.gov/noah# for more details.

Community Housing Development Organization (CHDO)

CHDO is a non-profit community organization that works to improve affordable housing for the residents of Louisiana. To be eligible for the program assistance, the non-profits must make an application for the Louisiana Housing Corporation’s CHDO certificate, which is valid for twelve months once approved. Applications for recertification occur between 1st to 30th June. Once you get certified as a CHDO, you become a participant in the activities of the HOME program. Find out more at https://www.lhc.la.gov/chdo.

Housing Trust Fund

The National Housing Trust Fund is an affordable housing program to complement the state and local efforts to improve safe and affordable housing opportunities for low-income individuals and families. The program funds are distributed to projects that provide project-based rental assistance to the residents of Louisiana. The Louisiana Housing Corporation administers this program in the state. Through this program, LHC work to prevent and reduce cases of homelessness among the residents of the state. The program support is also available for people living with disabilities by addressing their housing needs and ensuring they live a stable life in the community. Find out more at https://www.lhc.la.gov/housing-trust-fund.

Louisiana Low-Income Home Energy Assistance Program (LIHEAP)

Louisiana LIHEAP provides home energy assistance to low-income families to enable them to pay for their heating and cooling costs. The amount of energy assistance you will receive depends on the household income and the type of fuel your family consumes. Who qualifies for this program support? Your family must be responsible for the energy bill and have an account for the cooling/heating utility. This program aims to keep low-income households out of harsh weather. The program also engages in crisis intervention to help families undergoing emergencies related to heating and cooling, including disconnection threats. Is your heating cooling tool inoperable? Well, LIHEAP provides a replacement/repair equipment for those families whose heating or cooling tools do not operate as required. Want to apply for Louisiana LIHEAP? Please come with your copies of utility bills, copies of unearned income, proof of home address, social security card, National ID, and proof of the number of members in your household. Find out more at https://www.lhc.la.gov/energy-assistance.

Louisiana HousingSearch.org

The HousingSearch.org is a free resource designed to help you get access to housing units that are suitable for your budget and needs. The list is always current because property owners can simply upload available apartments, rentals, and homes. the program makes your search for quality and affordable housing easy. You can find housing for sale and information and tools you need in your journey to becoming a homeowner. Visit http://lahousingsearch.org/ and start your search today.

Permanent Supportive Housing Program

The permanent supportive housing program is committed to reintegrating homeless people and those vulnerable to the situation into the community by addressing their most pressing housing needs while providing supportive services such as temporary shelter. The program work in partnership with the local community services to provide support to people with disabilities and enable them to live a stable life in the state. The program aims to address the homelessness situation, enable the disabled to achieve stability. Want to apply for the program? Please reach out to the Department of Health by calling 504-568-2774 0r 1-844-698-9075. For more details, visit https://www.lhc.la.gov/permanent-supportive-housing-program.

USDA’s Single-Family Housing Direct Home Loans in Louisiana

The program provides payment assistance to eligible low-income families to enable them to obtain safe and sanitary housing that they can afford in the rural areas. The program aims to improve the repayment ability of the qualified applicants and reduce the amount of mortgage they pay for some time. the amount of assistance depends on the level of income of the family in need of assistance. to qualify for assistance, you must meet the applicable low-income limits and demonstrate a willingness to make repayment after receiving the financial support. You must also agree to remain the occupant and use the property as your primary residence. You must also meet the citizenship requirements and be a resident of Louisiana. Remember, you will be required to repay the loan if you sell or change the ownership of the property within three years of receiving assistance. To check the eligibility requirements for your area, visit http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfpd. Learn more about the program at https://www.rd.usda.gov/programs-services/single-family-housing-direct-home-loans/la.

USDA’s Single-Family Housing Repair Loans & Grants in Louisiana

The purpose of this program is to provide financial support to low-income homeowners through loans. The program aims to enable the homeowners to get access to funds to improve or modernize their homes. The program also provides grants to senior homeowners to enable them to deal with the safety or health threats in their homes. for such grants, you must be 62 years or older and demonstrate you are not capable to make repayment. Want to check if your home address I eligible for support? Visit http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfpd.

Louisiana’s Section 8 Housing Choice Voucher Program

The Section 8 Housing support low-income families to get access to affordable and quality housing in Louisiana. The Public Housing Agencies administer this program at the local level. The program allows participants to chose housing units in the private market as long as it meets the HUD quality standards. Once your housing unit has been approved, the program will pay part of your rent directly to the property owner. You will be required to contribute 30% or 40% of your income towards your monthly rent while HUD funds cover the rest. You must meet the eligibility requirement for the program to receive assistance. You must meet the low-income limit, be a U.S. citizen or provide proof of legal residence, and demonstrate the need for financial support. Find out more at https://www.hud.gov/states/louisiana/renting.

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