Overview
Louisiana's housing market offers opportunities for first-time buyers, with a median home price of approximately $200,000. The Louisiana Housing Corporation (LHC) provides the primary state-level assistance through mortgage programs and down payment assistance for qualifying buyers.
The Market Rate GNMA Program is a louisiana housing corporation's key offering for first-time buyers, providing below-market rate 30-year fixed mortgage with up to 4% in dpa as a soft second. This program is designed to reduce the upfront cost barrier that prevents many qualified buyers from purchasing a home. Buyers must complete a HUD-approved homebuyer education course and work with an approved lender.
State Programs
Market Rate GNMA Program
Below-market rate mortgage with DPALHC Mortgage Revenue Bond Program
Down payment assistanceFederal Programs Available in Louisiana
These nationwide programs can be combined with Louisiana state assistance for maximum benefit.
FHA Loan Program
Low down payment mortgageVA Home Loan
Zero down payment mortgageUSDA Rural Development Loan
Zero down payment mortgageTips for First-Time Buyers in Louisiana
The LHC Mortgage Revenue Bond Program extends additional support through up to $6,000 as a forgivable soft second mortgage. Louisiana has a graduated income tax from 1.85% to 4.25%. Property taxes average about 0.56%, among the lowest in the South. Low property taxes combined with affordable home prices make Louisiana one of the most accessible markets.
Federal programs complement state offerings in Louisiana. FHA loans require just 3.5% down with flexible credit requirements. VA loans provide zero-down-payment financing for veterans and active-duty military, particularly relevant near Barksdale Air Force Base, Fort Johnson. USDA loans offer zero-down-payment options in eligible rural areas, which cover significant portions of Louisiana.
Prospective buyers should compare all available options, as combining state and federal programs can dramatically reduce out-of-pocket costs. Working with a HUD-approved housing counselor can help navigate the application process and identify the best program combination for your situation.
Frequently Asked Questions
For educational purposes only -- not financial or tax advice. Program details, eligibility requirements, and benefit amounts are subject to change. Verify all information directly with the administering agency before applying. Last verified: March 30, 2026.