Capital Advantage

Capital Advantage is a grant for homebuyers in Multiple County, Louisiana. TRUE GRANT - 4-5% gift toward DPA / closing costs (tiered by FICO: 640/660 = 4%, 680+ = 5%). No lien, no repayment ever. Pairs with FHA/VA/USDA. Open to FTHB and repeat buyers. 9-parish East Baton Rouge service area. Capital Advantage is a TRUE GRANT homebuyer program from CAFA - no second mortgage, no lien, no repayment ever. Provides 4-5% of first-mortgage loan amount (tiered by FICO: 4% at 640/660 FICO, 5% at 680+ FICO) toward down payment, closing costs, or prepaid items. Pairs with a CAFA-approved 30-year fixed-rate FHA, USDA-RD, or VA first mortgage. Open to first-time AND repeat home buyers. Funds are gifted at closing and never need to be repaid. Funding comes from State and TBA.

Capital Advantage is structured as a grant, so it is not repaid. Repayment is triggered by None - true grant, no repayment ever. The assistance is recorded in None position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Capital Advantage is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Tiered FICO: 640/660 (4% grant), 680+ (5% grant). Lender overlays may apply. A homebuyer education course is required, through HUD-approved housing counseling agency or eHome America online homebuyer education required prior to closing. Residency requirement: Property must be located within CAFA's 9-parish service area (East Baton Rouge, West Baton Rouge, Ascension, Iberville, Pointe Coupee, East Feliciana, West Feliciana, Livingston, St. Helena) and be borrower's primary residence. Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product overlays. Property must be in CAFA's 9-parish service area. 640 minimum FICO. Maximum 50% DTI with AUS approval. Owner-occupied primary residence. Income at or below CAFA TBA limits ($46,320 1-2p / $122,640 3+p). FHA/VA/USDA only. Homebuyer education required.

Capital Advantage limits household income to $122,640. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Capital Advantage caps the purchase price as follows: Per first-mortgage product loan limits (FHA county loan limits, USDA, VA). Eligible property types include Single-family detached, condominium, townhouse, PUD, manufactured home on permanent foundation (per overlays). New construction is eligible. Manufactured homes are eligible.

Capital Advantage names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Capital Advantage serves homebuyers purchasing in Multiple County, Louisiana.

Applications for Capital Advantage go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Reserved through CAFA's online lender portal at time of rate lock by approved participating lender. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.