Premier Program

Premier Program is a grant for homebuyers in Statewide, Louisiana. LHC's NON-bond TBA program: first mortgage + 4% non-repayable DPA grant. NO FTHB requirement. NO recapture tax. 640 FICO. Statewide. Open to repeat buyers. Louisiana Housing Corporation's Premier Program is a NON-BOND TBA homebuyer program providing a 30-year fixed-rate FHA, USDA-RD, VA, HFA Preferred, or HFA Advantage first mortgage paired with 4% non-repayable down payment assistance grant. The DPA grant is calculated on the first-mortgage loan amount and may be used for down payment, closing costs, or prepaid items. NOT bond-funded - no IRS Section 143 federal recapture tax. Open to first-time AND repeat home buyers (no FTHB requirement). 640 minimum FICO. Statewide Louisiana. Funding comes from State and TBA.

Premier Program is structured as a grant, so it is not repaid. Repayment is triggered by None for DPA grant - no repayment. First mortgage is standard amortizing 30-year fixed. 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.

Premier Program is open to homebuyers who will live in the home as their primary residence. 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. Owner-occupied primary residence in Louisiana. 640 minimum FICO. Max 50% DTI with AUS approval. Income at or below Premier limit (~$99,000 statewide single tier per seed). FHA/VA/USDA/HFA Preferred/HFA Advantage. Homebuyer education required. No first-time homebuyer requirement.

Premier Program limits household income to $99,000. 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.

Premier Program caps the purchase price as follows: Per first-mortgage product loan limits (FHA county loan limits, conforming conventional limits, USDA, VA). No LHC-specific Premier purchase price cap. 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.

Premier Program 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.

Premier Program serves homebuyers purchasing in Statewide, Louisiana.

Applications for Premier Program 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. 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.