La. Admin. Code tit. 16 § II-711

Current through Register Vol. 50, No. 11, November 20, 2024

Section II-711 - Types of Assistance and Proscribed Use

A. Down payment assistance will be available at loan closing by the mortgage lender.

1. The maximum down payment assistance is 5 percent.

2. Borrowers will pay a 1 percent origination fee and 1 percent discount point.

B. The assistance will be in the form of a non-repayable grant with no cash back to the borrower.

C. Assistance may be applied toward down payment, closing costs and pre-paid items.

La. Admin. Code tit. 16, § II-711

Promulgated by the Department of Treasury, Louisiana Housing Corporation, LR 38:1997 (August 2012).

AUTHORITY NOTE: Promulgated in accordance with R.S. 40:600.1 et seq.