La. Admin. Code tit. 16 § II-911

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

Section 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.

La. Admin. Code tit. 16, § II-911

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

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