LHC Launches New Pathways Program to Assist First-Time Homebuyers in Areas Affected by Recent Hurricanes

The Louisiana Housing Corporation (LHC) today announced the launch of a new soft second mortgage initiative to assist first-time homebuyers in areas affected by Hurricanes Laura, Delta, and Ida. Pathways to Homeownership (Pathways) is designed to cover the affordability gap between the maximum amount that a homebuyer can afford and the purchase price of a home.

Qualified first-time homebuyers in designated disaster-affected parishes can receive up to $55,000 or 20% down payment assistance toward purchasing a home, along with $5,000 in closing-cost assistance. The Pathways program provides assistance to first-time homebuyers with incomes at or below 80% of the area median income to purchase one-unit family homes. All or a portion of the loan is forgivable if certain conditions are met.

For more information, assistance with the application process, or to determine if Pathways is the best option for your homebuying needs, contact LHC’s customer service team.