HomeStart Advantage, formerly known as Keys for Service, combines a 30-year fixed-rate mortgage with assistance equal to 4% of the first mortgage amount.

• Available to eligible first-time and repeat Louisiana homebuyers.
• Open to all occupations.
• Projected annual household income may not exceed $125,000.
• Borrowers may not own another residence at closing.
• Assistance is a 0% interest second mortgage that can be fully forgiven after five years when program requirements are met.
• Homebuyer education is required.

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HomeStart Assist helps eligible first-time homebuyers who need assistance with down payment and closing costs. The program combines a 30-year fixed-rate mortgage with assistance equal to 4% of the original first mortgage amount.

• Designed for first-time homebuyers, generally defined as buyers who have not owned a principal residence within the past three years.
• Income limits vary by household size and property location.
• Assistance is a 0% interest second mortgage that can be fully forgiven after five years when program requirements are met.
• Approved homebuyer education is required for at least one occupying borrower.
• Purchase-price, property, and loan requirements apply.

HomeStart Plus, formerly known as Pathways to Homeownership, helps eligible first-time homebuyers purchase a home in designated Louisiana parishes affected by Hurricanes Laura, Delta, or Ida.

Qualified buyers may receive

• Up to 20% of the purchase price in second-mortgage assistance, capped at $55,000.
• Up to $5,000 in closing-cost assistance.
• A 0% interest second mortgage forgiven monthly over 10 years when program requirements are met.

HomeStart Plus eligibility

• Household income may not exceed 80% of HUD Area Median Income, adjusted for household size and property location.
• Minimum borrower contribution is the greater of 1% of the purchase price or $1,500.
• The home must be in a designated eligible parish.
• Approved homebuyer education is required for at least one occupying borrower.
• Property, environmental, insurance, and flood requirements apply.

Actual assistance depends on eligibility, purchase price, and program requirements. Contact a GMFS Mortgage loan officer to review your household and property eligibility.

HomeStart Ready offers eligible Louisiana homebuyers a 30-year fixed-rate mortgage to purchase a qualifying home.

• Available to first-time and repeat buyers.
• Available statewide.
• Income, property, and loan requirements apply.
• Homebuyer education requirements apply to first-time buyers.

The program does not currently provide separate LHC down payment or closing-cost assistance.