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Homebuyer's Assistance Program

The City-Parish Office of Community Development (OCD) Homebuyer Assistance Program (HAP) has been revised to comply with the new Home Rule that went into effect January 24, 2014. Program assistance will vary by homebuyers and the maximum mortgage loan must be determined by the lender without including HAP assistance. The amount of down payment assistance and closing cost will no longer be a fixed amount, but will be subject to HAP loan underwriting criteria.


  • Existing property/New Construction outside target areas may receive up to $23,000.00 in assistance:
  • Existing properties located in the targeted areas may receive up to $25,000.00 in assistance and new construction may receive up to $50,000.00.
  • The assistance is interest free and repayment is due upon sale or transfer of property, however, borrower may repay loan at anytime.
  • The $3,000 grant assistance from American Dream Down payment Initiative (ADDI) will be included until funds are exhausted.
  • Properties eligible for HAP assistance must be located in EBRP with the exclusion of properties located in Baker, Central and Zachary.
  • Buyers must not have owned a home in the last 3 years or qualify as a displaced homemaker or a single parent.
  • Must attend a HUD approved homeownership 8 hour education course and receive a certificate upon completion.

Down Payment

  • The minimum down payment is 3% of purchase price.
  • Evidence of down payment funds must be in checking/saving accounts at time of application. If other assistance is received only $1,000.00 of personal funds will be required.
  • The buyer is required to have two (2) months of mortgage payments (PITI) in bank account at time of closing. This amount excludes down payment closing funds.

Income Requirements

  • Buyer must be employed in the same field for a minimum of one year and must have stable income.
  • Buyer’s household income cannot exceed 80% of the median income as established by HUD.
  • Income of all persons 18 years and older must be included.

Household Income Chart Below

  • Loan debt ratios cannot exceed 33% of monthly income on the front end and 42% of monthly income on the back end.
Family Size
Yearly Income
Monthly Income
1 $38,050 $3,170.83
2 $43,450 $3,620.83
3 $48,900 $4,075.00
4 $54,300 $4,525.00
5 $58,650 $4,887.50
6 $63,000 $5,250.00
7 $67,350 $5,612.50
8 $71,700 $5,975.00

*Effective: 04/14/2017 *Expires When Superseded

Credit Score

  • Credit score must be a minimum of 620 (middle score or above). The following are not acceptable: i.e. collections, unpaid accounts, judgments and defaulted student loans

Anti Predatory Lending

  • The City will not provide assistance to an applicant who has been qualified for a residential mortgage loan (“Mortgage Loan”) that does not comply with all applicable federal, state and local predatory lending laws and other laws designed to prevent unfair or abusive lending practices.
  • The City will not provide assistance to an applicant with a mortgage loan which involves any of the following practices or characteristics:
  • Charging prepayment penalties for payoff of loan.
  • Lending without regards to a borrower’s ability to make payments on the mortgage.
  • Loan where the terms of, or practices in connection with, such loans do not comply with the provisions of Regulation Z (12 C.F.R. part 226) relating to Higher-priced Mortgage Loan, Ability to Repay or Qualified Mortgages
  • Total administrative fees for mortgage loans must be reasonable (loan application, origination fee, underwriting fee, document preparation fee, loan processing, credit report, tax service fee, and flood certification fee).

Other Requirements

  • All monthly debt, including any long term debt and student loans will be included in the monthly debt calculations.
  • Buyer is required to occupy the property for the affordability period which will depend upon the amount of assistance received.

OCD Homebuyer Target Area Map (pdf)