Iberia Habitat for Humanity Homeownership Program

Iberia Habitat for Humanity Homeownership Program is a first mortgage for homebuyers in New Iberia, Louisiana, administered by Iberia Habitat for Humanity. Iberia Habitat for Humanity builds and sells simple, decent homes to low-income partner families in Iberia Parish. Homes are sold with a 0% interest 25-30 year mortgage; families must demonstrate need, ability to repay, and willingness to partner (sweat equity). Must have lived in Iberia Parish at least 1 year. Zero-interest 25-30 year mortgage. No down payment required. Affordable monthly payment based on income. Homeowner education classes provided. Funding comes from Private donations, volunteer labor.

Iberia Habitat for Humanity Homeownership Program is a first mortgage and is repaid under the terms set by Iberia Habitat for Humanity. The assistance is recorded in 1st position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Iberia Habitat for Humanity Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Not publicly specified; ability to repay mortgage required. A homebuyer education course is required, through Iberia Habitat for Humanity homeowner education classes. Residency requirement: Must have lived in Iberia Parish for at least 1 year. Citizenship or immigration status: Must be a legal U.S. resident. Sweat equity participation required. Specific income limits and sweat equity hours not publicly posted online — contact Iberia Habitat directly.

Iberia Habitat for Humanity Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. 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.

Iberia Habitat for Humanity Homeownership Program caps the purchase price as follows: Home is built/sold by Habitat at affordable price. Eligible property types include Single Family. New construction is eligible. Manufactured homes are not eligible.

Iberia Habitat for Humanity Homeownership Program serves homebuyers purchasing in New Iberia, Louisiana.

Applications for Iberia Habitat for Humanity Homeownership Program go through Iberia Habitat for Humanity, 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.