Buying a home in Louisiana is exciting — but it can feel overwhelming when you start comparing programs, lenders, and costs. To help simplify the process, here are three of the most-asked questions from Louisiana homebuyers and homeowners.

What Assistance Programs Are Available for First-Time Homebuyers in Louisiana?

Some buyers may qualify for programs that help with down payments or closing costs, depending on income, credit, and location. These can be a valuable resource for reducing upfront expenses when purchasing a home.
Your lender can help you explore available options and determine what may best fit your financial goals.

“The best investment you can make is in your own understanding.”

— Warren Buffett

How Much Down Payment Do I Need to Buy a Home in Louisiana?

Many people assume they need 20 percent down, but that’s not always true. Depending on your loan type:

  • Conventional loans – 3 percent down for first-time buyers and 5 percent for repeat buyers.
  • FHA loans – as little as 3.5 percent down.
  • VA loans – 0 percent down for eligible service members and veterans.
  • USDA loans – 0 percent down in qualifying rural areas.

Even with low-down-payment programs, it’s smart to budget for closing costs, insurance, and property taxes.

What Should I Ask My Mortgage Lender Before Committing?

A good lender welcomes your questions. Ask:

  • “What loan programs do you offer and which best fit my goals?”
  • “What will my total monthly payment include?”
  • “Are there programs that could reduce my out-of-pocket costs?”

Being proactive keeps you informed and helps you find a mortgage that works long-term.

Knowledge Builds Confidence

Understanding your options — from down payments to loan types — empowers you to make decisions that fit your lifestyle and budget.

Louisiana Mortgage Associates proudly serves homeowners and buyers across the entire state of Louisiana. If you’re ready to explore your loan options or review your current mortgage, our experienced team is here to help.

NMLS #87325 | Equal Housing Lender

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