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Louisiana Housing Corporation

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

 

Keys of Service Program

Within the Mortgage Revenue Bond Program, Keys of Service allows Louisiana residents who meet certain criteria to receive 4% assistance to help with down payment and closing costs towards the purchase of a home. 

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Standard Mortgage Corporation (SMC) NMLS #44912 is an Equal Housing Lender. SMC is licensed or registered as a residential mortgage company in Louisiana #RML 496-0; Alabama #4929; Arkansas #10626, Colorado, Florida #MLD502, Georgia#14750, Mississippi #44912, North Carolina #L-124936, Oklahoma #ML010154, South Carolina #MLS-44912, Tennessee #108900, Texas and Virginia MC - 7619 (http://nmlsconsumeraccess.org). Credit and collateral are subject to approval. Terms and conditions may apply. Programs, rates, terms, and conditions are subject to change and to borrower(s) qualification. This is not a commitment to lend. For refinance advertisements that state a reduction on the monthly payment, please note: the total finance charges may be higher over the life of the loan.