With the City of Shreveport’s Home Buyers Assistance Program Participation Initiative (HAPPI), first-time homebuyers can access down payment, buy down, and closing cost assistance through participating local lenders. 

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Home Buyers Assistance Program Participation Initiative (HAPPI)

Financial Assistance for Homebuyers in Louisiana

With the City of Shreveport’s Home Buyers Assistance Program Participation Initiative (HAPPI), first-time homebuyers can access down payment and closing cost assistance through participating local lenders.

Available Assistance
The maximum amount of assistance available with the program is up to 20 percent of the sales price or appraised value of the home, whichever is lesser, depending on the percentage of area median income.
 
Eligibility Requirements
To be considered eligible for HAPPI, all applicants must meet certain program requirements. Borrowers must be first-time homebuyers; those who have owned a home or held title to a property for three years or longer are not eligible. They must have an annual household income at or below 80 percent of the area median income as determined by HUD (limits shown below). Applicants are required to complete an approved homebuyer education class and must have sufficient credit to qualify with one of the city's HAPPI approved lenders.

Property Guidelines
Any home being purchased must serve as the borrower's primary residence. Properties must be eligible for HUD mortgage insurance or a specific insurance program and must meet minimum property standards. HUD, VA, repossessed properties or manufactured housing are not eligible under HAPPI.

Income Limits
All applicants must have an annual household income at or below 80 percent of the area median income, as shown below:

1 person household: $31,750
2 person household: $36,250
3 person household: $40,800
4 person household: $45,300
5 person household: $48,950
6 person household: $52,550
7 person household: $56,200
8 person household: $59,800

(Note: These figures were accurate at the time of publication and may no longer be current - visit the program website for updated information.)

 

Down Payment Grants in Louisiana

The Expand to Homeownership Program assists homebuyers in New Orleans with the upfront down payment and closing costs when purchasing a home. Repayment is not required if you, the borrower, occupy the home as your primary residence. 

The First-time Homebuyers Assistance Program, established and administered by the City of Kenner Department of Community Development, is designed to provide financial assistance to low, moderate, and median income households trying to purchase a home in the City of Kenner.

With the City of Shreveport’s Home Buyers Assistance Program Participation Initiative (HAPPI), first-time homebuyers can access down payment, buy down, and closing cost assistance through participating local lenders. 

The City-Parish Office of Community Development (OCD) of Baton Rouge’s Homebuyer Assistance Program (HAP) is designed to assist families by providing down payment assistance.  The down payment assistance is a minimum of 3 percent of the purchase price.

The Louisiana Housing Corporation offers residents the LHC Preferred Conventional Program, which offers favorable terms when compared to FHA loans. Additionally, the program provides up to 4 percent assistance for down payment, closing costs, and/or prepaid items.

The Louisiana Housing Corporation offers the Market Rate GNMA Program in order to assist residents make the upfront costs of buying a home. Along with a 30-year, fixed rate FHA, VA or USDA Rural Development loan, the program offers homebuyers up to 4 percent assistance for down payment, closing costs, and/or prepaid items.

With the Southern Mortgage Assistance Program, The Jefferson Parish Finance Authority offers residents a 30-year fixed rate mortgage with a Down Payment Assistance (DPA) Grant. The assistance covers either 3 or 4 percent of the loan amount for borrowers.

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