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 of 3% or 4% on Conventional Loans. The assistance may be used for down payment, closing costs, borrower paid MI or prepaids.

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
  • Eligible for first time homebuyer or repeat buyer

Benefits of Purchase Advantage

  • 3% or 4% Down Payment Assistance
  • More parishes added – expanded to 58 parishes
  • Lower MI Cost
  • Options to use assistance towards down payment, closing costs, etc.
  • Freddie LPA only
  • Down to 640 min credit

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, 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

* The percent of downpayment assistance offered is dependent on the interest rate selected by the borrower. Approved parishes and income limits are established by CAFA and subject to change.

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