LAC 16:II.911 – Types of Assistance and Proscribed Use

A. Down payment and closing costs assistance is not available for the Workforce Housing Initiative Program.
B. Borrowers will pay a 1.5 percent origination fee and 1 percent discount point.
C. Borrower will pay reasonable and customary fees and closing costs.
D. Sellers concessions up to 3 percent of the sales price is permitted.
E. Maximum loan amount is $300,000 based upon current appraisal.

AUTHORITY NOTE: Promulgated in accordance with R.S. 40:600.86 et seq.

HISTORICAL NOTE: Promulgated by the Department of Treasury, Louisiana Housing Corporation, LR 41:400 (February 2015).