Louisiana Administrative Code
Title 16 - COMMUNITY AFFAIRS
Part II - Housing Programs
Chapter 7 - Turnkey Mortgage Origination Program
Section II-711 - Types of Assistance and Proscribed Use
Universal Citation: LA Admin Code II-711
Current through Register Vol. 50, No. 9, September 20, 2024
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.
AUTHORITY NOTE: Promulgated in accordance with R.S. 40:600.1 et seq.
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