Down Payment Assistance Hub
Don't let the down payment stand between you and your dream home. Explore local, state, and private grant programs designed to bridge the gap and make homeownership affordable.
Bridging the Gap to Homeownership
The biggest hurdle for most first-time homebuyers isn't the monthly mortgage payment—it's saving up for the initial down payment and closing costs. At the Northeast Louisiana Wealth & Homeownership Alliance, we connect qualified buyers with thousands of dollars in grants and forgivable loans to turn their homeownership dreams into reality.
City of Monroe Programs
Specialized funding for buyers looking to purchase within the city limits. Utilizing HOME funds, these programs offer substantial assistance for down payments and closing costs to stabilize local neighborhoods.
- First-Time Homebuyer Grants
- Targeted Revitalization Areas
Statewide Resources
The Louisiana Housing Corporation (LHC) offers statewide mortgage revenue bond programs that include competitive interest rates paired with soft-second loans to cover upfront costs.
- LHC Resilience Soft Second
- Mortgage Credit Certificates (MCC)
Partner Bank Grants
We partner with local lending institutions and the Federal Home Loan Bank (FHLB) to facilitate matched savings programs. For every dollar you save, the program multiplies it toward your down payment.
- FHLB Homebuyer Dream Program
- Individual Development Accounts (IDA)
Who Qualifies?
While every specific grant program has its own unique guidelines, almost all down payment assistance programs share these core requirements:
First-Time Buyers
Usually defined as someone who hasn't owned a principal residence in the last 3 years.
Income Limits
Total household income generally must fall below 80% of the Area Median Income (AMI).
Mortgage Readiness
Must be able to qualify for a traditional fixed-rate mortgage through an approved lender.
Required Education
Completion of an 8-hour HUD-approved Homebuyer Education course is strictly required.
The First Step is Education
Because earning your Homebuyer Education Certificate is mandatory for these programs, it is the absolute best place to start. Sign up for our class today to get your certificate and meet with a financial coach to determine which grant you qualify for.