Home Buyers Assistance Program Participation Initiative (HAPPI)

What is Home Buyers Assistance Program Participation Initiative (HAPPI)?

Home Buyers Assistance Program Participation Initiative (HAPPI) is a forgivable loan for homebuyers in Shreveport, Louisiana.

• City of Shreveport HUD HOME/CDBG-funded forgivable second mortgage for first-time homebuyers up to 80% AMI. Up to 20% of sales price or appraised value. Targeted Neighborhood enhanced caps: $10K existing property / $20K new construction. Both applicant and co-applicant must complete HUD-certified homebuyer education. No manufactured housing, no HUD/VA repos.
• City of Shreveport's Home Buyers Assistance Program Participation Initiative (HAPPI) provides down payment, buy-down, and closing cost assistance through approved private lenders. Maximum assistance is up to 20% of sales price OR appraised value (whichever is less), depending on percentage of area median income. Tiered amounts in 19 designated Targeted Neighborhoods: up to $10,000 for purchase of an existing property in a Targeted Neighborhood.
• up to $20,000 for purchase of NEW CONSTRUCTION in a Targeted Neighborhood. Structured as a HUD HOME / CDBG-funded forgivable second mortgage.
• Funding comes from Federal, HOME, CDBG, and City.

How much assistance does it provide?

Home Buyers Assistance Program Participation Initiative (HAPPI) provides assistance worth 20% of the purchase price, as set by the program.

• Buyer contribution: Per first-mortgage product (3.5% FHA, 0% VA, 3-5% conventional).
• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Home Buyers Assistance Program Participation Initiative (HAPPI) is forgiven after 10 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by HUD HOME-funded forgivable second mortgage typical structure. Affordability period per 24 CFR 92.254: 5 years (assistance < $15K), 10 years ($15K-$40K), and 15 years (>$40K). Recapture limited to net proceeds if sold/transferred/vacated during affordability period.
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Home Buyers Assistance Program Participation Initiative (HAPPI) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Home Buyers Assistance Program Participation Initiative (HAPPI) limits household income to 80% of the area median income, which varies by county and household size.

• Annual household income at or below 80% AMI per HUD for City of Shreveport / Caddo Parish (2024-2025 1p=~$36,700; 8p=~$69,200 per seed range). Assistance amount tiered by exact AMI percentage.
• The limit applies to total household income, not only the borrower&rsquo;s.
• The program lists a maximum household size of 8.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Home Buyers Assistance Program Participation Initiative (HAPPI) caps the purchase price as follows: No explicit maximum purchase price; assistance capped at 20% of sales price OR appraised value (lesser). Targeted Neighborhood enhanced caps: $10K (existing) / $20K (new construction).

• Eligible property types include Single-family detached, condominium, townhouse within City of Shreveport. NO manufactured housing. NO HUD-, VA-, or repossessed properties.
• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Home Buyers Assistance Program Participation Initiative (HAPPI) 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.

Where does it apply?

Home Buyers Assistance Program Participation Initiative (HAPPI) serves buyers purchasing in Shreveport, Louisiana.

• The program targets specific areas: 19 designated Targeted Neighborhoods within City of Shreveport receive enhanced HAPPI caps: up to $10,000 existing property / $20,000 new construction. Designated by City Community Development Department; maps at shreveportla.gov/DocumentCenter/Index/361.

How do you apply?

Applications for Home Buyers Assistance Program Participation Initiative (HAPPI) go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Approved Homebuyer Education Providers list (2023 directory at shreveportla.gov/DocumentCenter/View/21989). Education provider must be a non-profit and/or HUD-Designated Counseling Agency. Both applicant and co-applicant must complete homebuyer education classes. Catholic Charities of North Louisiana (CCNLA) provides FTHB classes..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Apply through HAPPI Approved Lender, who coordinates with City of Shreveport Department of Community Development. Subject to HOME/CDBG annual allocation., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.