The Ultimate Guide to Financing Your First Home in Louisiana

Buying your first home is exciting — but figuring out the financing can feel overwhelming. The good news? Louisiana offers several loan programs and resources that make homeownership more achievable than ever.

🏦 Understanding Your Loan Options

1. Conventional Loans – These are ideal for buyers with good credit and at least 3%–5% down. You'll avoid mortgage insurance with 20% down.

2. FHA Loans – Backed by the government, FHA loans are a popular option for first-time buyers. They offer lower down payments (as little as 3.5%) and more flexible credit requirements.

3. USDA Rural Development Loans – Available in many areas surrounding Baton Rouge, USDA loans offer 100% financing for qualifying properties and buyers — no down payment required!

4. VA Loans – If you’re a veteran or active-duty military, VA loans offer incredible benefits like 0% down and no private mortgage insurance.

📝 Louisiana-Specific First-Time Buyer Programs

• LHC (Louisiana Housing Corporation): Offers down payment and closing cost assistance for qualifying buyers.

• Market Rate GNMA Program: A competitive fixed-rate loan option with potential grants.

• MCC (Mortgage Credit Certificate): Offers a dollar-for-dollar tax credit on mortgage interest — huge savings over time.

👩‍💼 Why Pre-Approval Matters

Before touring homes, getting pre-approved shows sellers you're serious and ready to move. It also helps you understand your monthly payment, including taxes and insurance, which can vary significantly by parish.

Working with a local lender — like our trusted partners — ensures you get expert guidance and competitive rates tailored to Louisiana buyers.