Mortgage Revenue Bond Program
MRB/ASSISTED
This program is designed to help first time homebuyers in the state of Louisiana with assistance towards their down payment, closing costs, or prepaids. Additionally, this program has an interest rate that is below market levels.
Program Details:
- Available for Conventional, FHA, VA or RD financing
- Must be a first-time homebuyer (unless property is located in a targeted area)
- Borrower must meet local income requirements
- Purchase price limits apply
- Assistance is a soft second that is forgiven after 36 months
- Minimum credit score 640
Program Benefits:
- Borrower receives assistance equal to 4% of their mortgage amount
- Reduced MI for Conventional loans
