Menu

Buy A Home With NO MONEY DOWN And NO First-time Home Buyer Requirement

Are you looking to buy a home with 100% Financing and make too much money to qualify for the USDA Rural Development program? The LA CAFA Home Loan Grant may be your solution!​ With higher income limits, you can still own a home WITH NO MONEY DOWN!

August 10, 2017

Are you looking to buy a home with 100% Financing and make too much money to qualify for the Rural Development program?

The LA CAFA Home Loan Grant may be your solution!

CAFA’s Mortgage Origination Program will provide a competitive 30-year fixed rate mortgage with a non-repayable homebuyers grant of up to 4% of the original mortgage amount to qualifying low and moderate income homebuyer families in eligible loan area parishes of Louisiana.

The details for the CAFA program are as follows:

  • The mortgage rate for the Louisiana CAFA Home Loan Grant program will be slightly above market rate and vary depending on the Down Payment Assistance Option chosen. The program mortgage rates are subject to change daily in order to remain competitive with the market.
  • Each homebuyer family will receive a non-repayable homebuyers grant equal to either 3% or 4% of the final principal balance of the mortgage loan depending on the interest rate selected.
  • FHA 30 year or Freddie 30 year Home Possible-HFA, fixed rate only. Minimum 640 FICO score, maximum 45% debt-to-income (DTI) ratio. All first-time homebuyers under the program are required to take an approved homebuyer education course.
  • No first-time homebuyer requirement
  • Maximum “credit qualifying” income 115% of AMI for FHA or 140% AMI on Freddie Conventional (see parish specific limits in table above)
  • Maximum home loan limits: Agency limits as applicable

If you are looking to buy a home, give us a call at 985-778-2525 and get started today!

Contact us by filling out the form below or calling us at 504-509-4771.

All below fields are required
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

You may also like to read...

How Do I Get My Home Prepared for the Market? Simple & Cost-Efficient Ways to Improve Your Home Today!

How Do I Get My Home Prepared for the Market? Simple & Cost-Efficient Ways to Improve Your Home Today!

When you start thinking about putting your home up on the market, the prospect of getting it ready for showings can seem like a daunting and nerve-wracking task. However, the good news is that there are actually several easy and cost-efficient ways to get your home market-ready--FAST. All you'll need is a quick trip to your local supermarket--or you might already have the materials at home already! Click to read, watch, & learn from Robin Realty's CEO & real estate expert Tiffani Robin.

Read This
A Day in the Life of an Agent at Robin Realty

A Day in the Life of an Agent at Robin Realty

So what is it actually like to be a realtor? Have you ever wondered if real estate would be a great new career fit for you? There are countless things that are involved with being a realtor, but at the end of the day, success as an agent all boils down to doing just ONE thing, and yes, ANYONE can do this one thing if they want it enough. Click to read, watch, & learn more.

Read This
Client Spotlight: Making It Out of the Rental Business in 30 Days or Less

Client Spotlight: Making It Out of the Rental Business in 30 Days or Less

Today, we at Robin Realty would like demonstrate in detail just how much our clients and their successes mean to us. Please click to read the story of just one of our many recent clients who, with a little encouragement, decided to tackle the pandemic real estate bull, and ultimately ended up coming out the other side of the mess not only unscathed, but even better than when he went in.

Read This