Louisiana Housing Corporation’s Housing assistance program for essential employees expands
BATON ROUGE, La. (WAFB) - Buying a house in this market and this economy can be a tough one.
The first-of-its-kind program provides down payment and closing cost assistance to Louisiana’s essential workers.
Prior to its expansion, active, full-time first responders and certified teachers were eligible for the assistance.
The program now offers that same help to healthcare employees.
The program, which previously had a maximum annual household income limit of $110,000, has increased the limit to $125,000, allowing even more Louisiana residents to take advantage of the benefits.
Eligible borrowers can receive 4% down payment assistance based on a 30-year mortgage term.
The program is currently funded by $5 million in taxable bonds, but the next issuance will increase to $10 million.
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