$25 Million Available in Tax-Exempt Bonds
Two Programs Available with 30-Year Fixed Rates
BATON ROUGE, LA — The Louisiana Housing Corporation (LHC) announced the release of the 2018A Tax-Exempt Program. Two programs are offered in the 2018A Tax-Exempt Program, both 30-year fixed rate programs, namely the Assisted Program and the HOME/MRB Program.
The Assisted Program has a total of $15,000,000 available with an initial interest rate of 4.875% which is subject to change daily. The HOME/MRB Program has a total of $10,000,000 available with an initial interest rate of 3.75% and is also subject to change daily. Program limitations and requirements are listed below.
|2018A Tax-Exempt Program Limitations/Requirement|
|Mortgage Loan Rate on March 1||4.875%||3.75%|
|Assistance Provided||4% forgivable second loan based on first mortgage amount||5% to 9% forgivable grant based on first mortgage amount|
|Loan Term||30 years||30 years|
|Start Date||March 1, 2018||March 1, 2018|
|MRB Code Compliance Fee||$75.00||$75.00|
|Number of Living Units||1||1|
“We are very excited about the opportunity to offer below market rate assistance again,” said Brenda Evans, LHC Housing Production Director. “These programs are designed to help those who are currently in the market to own a home.”
Contact a member of LHC Single Family Staff with any questions. Lenders, realtors, and other parties interested in future funding opportunities should visit www.lhc.la.gov or call (888) 454-2001.
About Louisiana Housing Corporation The Louisiana Housing Corporation was created by Act 408 of the 2011 Louisiana Legislative Session. The Corporation administers federal and state funds through programs designed to advance the development of safe, energy-efficient and affordable housing for low-to-moderate income families.
Na’Tisha Natt, Director of Public Affairs