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First time home buyer successWelcome workshop graduate!  Below are some of the resources presented during the session for RAPIDES and GRANT Parishes. Feel free to contact me with questions/corrections.

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ASSISTANCE PROGRAMS

Below information is current as of 08/01/21. Please keep in mind that rules and eligibility guidelines may sometimes change, funding may no longer be available, or programs may unexpectedly end. Please contact referenced lender for most current guidance.

BankCorp South
  • Right@Home Mortgage Program provides alternative sources for down payment and closing costs, a lower down payment, 100% max loan to value, and 30-year fixed rate. There’s no lender fees and no private mortgage insurance. Only available through BankCorp South.
Louisiana Housing Corporation
  • Market Rate GNMA Program offers 30-year, fixed-rate FHA, VA or USDA Rural Development mortgages at favorable interest rates. Assistance ranges between 2-4%. 640 min credit score, $70,265 max annual income. Max loan amounts: FHA – $294,515 * VA – $417k * RD – no limit.
  • Market Rate Conventional Program offers a conventional mortgage that allows for a higher loan value than FHA. Assistance ranges between 3-4% (can help reduce PMI). 640 min credit score. Max conventional loan amount $463k.
  • MRB Home and Bond Assisted Programs are designed to help prospective homebuyers meet down payment and closing costs. MRB Home ranges between 5-9%; Bond Assisted is 4%. Restricted to first time homebuyers with 640 min credit score; max income $64,300 for 2- and $73,935 for 3+. $271,164 max purchase price.
  • Resilience 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. Up to $5k in closing; cannot be in a flood zone. Restricted to single parents/displaced home makers. Forgiven after 10 years in the home.

LHC programs are offered only through below approved lenders:

Rapides Parish

Bancorp South- application
4600 Jackson St., Alex (318) 619-2920

First Federal Bank of Louisiana – application
5615-A Jackson St., Alex (318) 449-9540
4401 Coliseum Blvd., Alex (318) 442-2700
3305 LA Hwy 28 E, Pine (318) 443-7400

Hancock Whitney Bank – application
233 W. Main St., Ville Platte (337) 363-5602

Iberia Bank Mortgage Co. – application
6969 Fern Loop, Shreve (318) 629-7390
6985 Fern Loop, Shreve (318) 629-7392

Red River Bank – application
1412 Centre Court, Alex (318) 561-4000
3120 Hwy 28 East, Pine (318) 561-4000

Regions Bank – application
803 Sixth Street, Alex (318) 484-4721
333 Macarthur Drive, Alex (318) 484-4741
1439 Centre Court, Alex (318) 427-3700
3201 Monroe Highway, Pine (318) 640-6869

Sabine State Bank & Trust – application
4716 Jackson Street, Alex (318) 483-9900
121 University Pkwy., Leesville (337) 239-6058
1819 West Pinhook Ste. 110, Lafayette (337) 362-0102

Standard Mortgage – application
1819 West Pinhook Ste. 110, Lafayette (3
37) 362-0102

Grant Parish

Hancock Whitney Bank – application
233 W. Main St., Ville Platte (337) 363-5602

Iberia Bank Mortgage Co. – application
1300 Oliver Road, Monroe (318) 327-3317

Red River Bank – application
1412 Centre Court, Alex (318) 561-4000
3120 Hwy 28 East, Pine (318) 561-4000

Standard Mortgage – application
425 Ashley Ridge Blvd, Shreve (318) 869-4444

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