HOPE Credit Union Affordable Housing Program

HOPE Credit Union Affordable Housing Program is down payment assistance for homebuyers in Louisiana, administered by Hope Credit Union (Hope Enterprise Corporation). Hope Credit Union (a CDFI affiliated with Hope Enterprise Corporation, serving Louisiana and the Deep South) offers the Affordable Housing Program, a special mortgage for low- to moderate-income buyers that includes down payment and closing-cost assistance. Allows scores as low as 580, 100% financing up to $350,000 (97% up to $425,000) with no PMI and competitive fixed rates. No income limits in target areas, up to 120% AMI elsewhere; homebuyer education required. DPA and closing-cost assistance. Scores as low as 580. 100% financing up to $350,000. No PMI. Competitive fixed rates. Alternative credit accepted. Funding comes from Hope Credit Union / Hope Enterprise Corporation (CDFI); FHLB Dallas programs.

HOPE Credit Union Affordable Housing Program is down payment assistance and is repaid under the terms set by Hope Credit Union (Hope Enterprise Corporation). The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

HOPE Credit Union Affordable Housing Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Minimum 580; nontraditional/alternative credit accepted (3+ verified lines over 12 months). A homebuyer education course is required, through HOPE-approved homebuyer education; GreenPath Financial Wellness. Residency requirement: Available in HOPE's Deep South footprint including Louisiana. Min 580 credit. Primary residence. Approved homebuyer education required. Up to 120% AMI in nontarget areas (no limit in target areas). Alternative credit requires 3+ verified lines over 12 months. Exact DPA dollar amount not published (assistance_type 'other').

HOPE Credit Union Affordable Housing Program limits household income to 120% of the area median income, which varies by county and household size. No income limit in designated target areas; up to 120% AMI in nontarget areas. 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.

HOPE Credit Union Affordable Housing Program caps the purchase price as follows: 100% financing up to $350,000; 97% up to $425,000. Eligible property types include Single Family.

HOPE Credit Union Affordable Housing Program serves homebuyers purchasing anywhere in Louisiana. The program targets specific areas: No income limit in designated target areas; up to 120% AMI elsewhere.

Applications for HOPE Credit Union Affordable Housing Program go through Hope Credit Union (Hope Enterprise Corporation), which publishes the current terms and the application steps on its own site. 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.