Purchase Advantage powered by CAFA

This program is designed to help borrowers in need of down payment assistance. Purchase Advantage powered by CAFA is a unique program to jump-start Louisiana homeownership . Eligible borrowers can receive an assistance amount between 1% and 4% on FHA, Conventional Loans, USDA and VA loans. The assistance may be used for down payment, closing costs or prepaids. For USDA Loans, the benefit is applied towards closing costs.

GMFS has helped over 400 families with Purchase Advantage loans!

Eligibility

• 58 authorized Louisiana parishes are eligible for the Purchase Advantage home ownership grant program *
• Income limits to determine eligibility vary by parish and scenario
• Available for Purchase or Refinance when income is <80% AMI on Conventional and <115% AMI on FHA
• Eligible for first time homebuyer or repeat buyer

Benefits of Purchase Advantage

• 1% to 4% Down Payment Assistance
• More parishes added – expanded to 58 parishes
• Lower MI Cost on Conventional
• Options to use assistance towards down payment, closing costs, etc.

Eligible Louisiana Parishes

Acadia, Allen, Ascension, Assumption, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Caldwell, Cameron, Catahoula, Claiborne, Concordia, DeSoto, East Baton Rouge, East Carroll, East Feliciana, Evangeline, Franklin, Grant, Iberia, Iberville, Jackson, Jefferson, Jefferson Davis, Lafayette, Lafourche, Lincoln, Livingston, Madison, Morehouse, Natchitoches, Ouachita, Point Coupee, Rapides, Red River, Richland, Sabine, St. Bernard, St. Helena, St. James, St. John, St. Landry, St. Martin, St. Mary, St. Tammany, Tangipahoa, Tensas, Terrebonne, Union Parish, Vermillion, Vernon, Washington, Webster, West Baton Rouge, West Carroll, Winn