MRB Home

MRB Home is a grant for homebuyers in Statewide, Louisiana. LHC's bond-funded MRB first-mortgage-only program (no DPA). Lower rate than MRB Assisted - chosen by buyers who do not need DPA or want lowest rate. FTHB required. Statewide. Federal recapture tax may apply. Louisiana Housing Corporation's MRB Home Program is a Mortgage Revenue Bond-funded first-mortgage-only homebuyer program. Provides a below-market 30-year fixed-rate first mortgage (FHA, USDA-RD, VA, or HFA conventional). MRB Home does NOT include DPA - it is the lower-rate companion to MRB Assisted. Borrowers who do not need DPA (or who prefer a lower interest rate over the 4% DPA grant) choose MRB Home. First-time homebuyer required (waived in targeted census tracts). Statewide Louisiana. Funding comes from State and Bond.

MRB Home is structured as a grant, so it is not repaid. Repayment is triggered by Standard amortizing 30-year first mortgage and principal and interest payments due monthly. The assistance is recorded in 1st Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

MRB Home is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Federally designated targeted census tracts waive the first-time-homebuyer requirement. On credit, the program states: 640 minimum FICO; lender overlays may apply. A homebuyer education course is required, through LHC-approved homebuyer education required prior to closing (HUD-certified online or in-person). Residency requirement: Property must be located in Louisiana 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. First-time homebuyer required (waived in targeted census tracts). Owner-occupied primary residence in Louisiana. 640 minimum FICO. Max 45% DTI. Income at or below MRB Home limits ($32,100 1p / $89,050 3+p). Maximum purchase price $507,849. MRB federal recapture tax may apply on sale within 9 years. Homebuyer education required.

MRB Home limits household income to $89,050. 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.

MRB Home caps the purchase price at $507,849. 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.

MRB Home 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.

MRB Home serves homebuyers purchasing in Statewide, Louisiana. The program targets specific areas: Federally designated targeted census tracts (per IRS) where MRB-funded loans waive first-time-homebuyer requirement.

Applications for MRB Home go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Reserved through LHC's online lender portal at time of rate lock by approved participating lender. Subject to bond funding availability. 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.