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 FHA and 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.
  • May Allow 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, 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

* 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.

GMFS Mortgage ranked Best Mortgage Company in Louisiana for 2018 by Ask a Lender

Contact a GMFS Mortgage Loan Officer today!

Get Started with GMFS Mortgage

Swipe left to see more reviews

Customer Reviews

WHY GMFS MORTGAGE?

Our avg. customer feedback rating = 4.8 stars! Experience for yourself why so many of our customers and partners refer GMFS Mortgage to their family, friends and clients!

Established

Over 130,000 customers and $24 billion in residential mortgage funding in 23 states

Efficient

Processing, underwriting, and closing under same roof means smooth & predictable closings

Trusted

A+ rating with BBB and winner of Torch Award for Marketplace Trust

Experienced

GMFS staff has an avg. of 14+ years of mortgage industry experience

*Learn more about CAFA at https://thecafa.org/lenders/purchase-advantage-program

*Not a commitment to lend.  All loans subject to credit and property approval.  The following terms are for illustrative purposes only.  Rates, payments, and loans terms vary by consumer based on their individual qualifying information.   The payment amount illustrated does not include the amounts for taxes, property insurance, or mortgage insurance. 

Loan Term Down Payment Annual Percentage Rate Estimated Monthly Payment
30 year fixed rate 10% (90% LTV) 4.75% $1,043