$35 Million Loan Program With Financial Assistance Begins April 7th

BATON ROUGE, LA – Affordable home loan programs totaling$35 million are now available at low interest rates through the Louisiana Housing Finance Agency (LHFA) Mortgage Revenue Bond Program (MRB). Beginning April 7th, prospective first-time home buyers with low to moderate incomes can become eligible to receive a 30-year, fixed rate mortgage loan at5.30% or 5.85% interest rate plus financial assistance of 4% for down payment and/or closing costs.

LHFA also has funds for mortgage loans at 3.95% remaining for low-income home buyers through its HOME/MRB Program. The HOME/MRB Program requires a minimum investment of $1500 or 3% of the mortgage amount; whichever is greater. Financial assistance for down payment and/or closing costs is also available. LHFA makes financing for all its Programs available through participating lenders across the state.

Home ownership offers a great opportunity to make an investment in oneself and our state. We are pleased to be able to offer these programs to Louisiana families, says State Treasurer John Kennedy, LHFA Board Chair.

Our mortgage programs occur multiple times a year and each year we try to find attractive ways to offer Louisianians the best rates for their dream home, says LHFA President Helena R. Cunningham.

The MRB and HOME/MRB Programs offer qualifying residents an opportunity to finance their first home with a 30 year, fixed rate mortgage loan that can be used with Conventional, FHA, VA or Rural Development loans. Among other requirements, applicants must be a first-time homebuyer (meaning they have not owned a home in the previous three years), or plan to buy a home in a targeted area. A participating lender can help determine if the home you plan to purchase is in a targeted area.

Prospective home buyers wishing to apply for a LHFA mortgage should contact a participating lender or contact LHFA at1-888-454-2001.

List of Lenders:

Access Mortgage

Homebuyers Resource Group

Temple Inland Mortgage

Allied Mortgage Capital Corp.

Homestead

Union Planters Mortgage

Allstate Mortgage

Iberia Bank

Unity Mortgage Corp.

American Home Funding, Inc.

Iberville Trust Savings Bank

Wells Fargo

American Trust Mortgage

Johnson Mortgage Corporation

Temple Inland Mortgage

Americas Mortgage Resource

Key Mortgage

Whitney National Bank

AmSouth Bank

Molton, Allen & Williams Corp.

Banc One Mortgage Corp.

Mortgage Co-op

Baudier, Grace & Kinler

Mortgage Factory

Bridges Mortgage

Mortgage Market, Inc.

Barksdale Federal Credit Union

National City Mortgage dba Accubank

Central Progressive Mortgage

New Orleans Credit Service

Chase Manhattan Mortgage

New South Federal Savings

CitiMortgage

North American Mortgage

Citywide Mortgage Company

OSF Financial Services

Clinton Bank & Trust

Parish National Mortgage

Community Trust Bank

Peoples State Bank

Countrywide Home Loans

Plaza Mortgage

Crescent Bank & Trust

Rapides Bank & Trust

Deep South Mortgage

Red River Bank

Dryades Bank

Regions Bank of LA – North

Equity Mortgage

Rural Development

Eureka Homestead

Ruston Building & Loan Assoc.

Eustis Mortgage Corporation

Homebuyers Resource Group

First Guaranty Bank

Homestead

First Mortgage Investment Co.

Iberia Bank

FNB of Lake Charles

Iberville Trust Savings Bank

First National Bank USA

Johnson Mortgage Corporation

GAMA Mortgage Corporation

Key Mortgage

Genesis Mortgage

Molton, Allen & Williams Corp.

GMAC Financing

Mortgage Co-op

Contact:
Sarah Mulhearn
(225) 342-0012