Capital Advantage Program

Program Benefit: CAFA’s Mortgage Origination Program will provide a competitive 30-year fixed rate mortgage with a non-repayable homebuyers grant of up to 5.00% of the original mortgage amount to qualifying low and moderate income homebuyer families throughout all participating Parishes.

Program Mortgage Rate: The mortgage rate for the program will be slightly above market rate depending on the level of assistance. The program mortgage rates are subject to change daily in order to remain competitive with the market and will provide initially a 3 point, 4 point or 5 point assistance option. This program also offers a no assistance option.

Program DPA: Each homebuyer family will receive a non-repayable homebuyers grant equal to 3%, 4% or 5% of the initial principal balance of the mortgage loan.

Program Size: This is a continuous program. Unlike a Bond Money Program, we will never run out of funding as this program is tied to a daily mortgage interest rate.

Program Period: The program is available immediately and CAFA intends to make the program available to provide for continuous origination as long as it delivers a competitive mortgage and assistance product that meets the needs of homebuyers and lenders.

Eligible Mortgagors: The normal tax-exempt bond or MCC program requirements (income & purchase price limit, and first-time homebuyer requirement) will NOT apply. In addition, the homebuyers are NOT subject to “Recapture Tax.”

Eligible Loans: Freddie Mac HFA Advantage, FHA, VA, or USDA RD, all 30-year, fixed rate. Minimum 640+ FICO score for VA, RD and Freddie Mac HFA Advantage Loans and 660+ for FHA Loans, maximum 45% debt-to-income (DTI) ratio for FHA, VA, RD and Freddie Mac HFA Advantage Loans. While there is NO first-time homebuyer requirement on this program, all first-time homebuyers under the program are required to take an approved homebuyer education course.

Approved Courses

Contact Us

Current Rates

Mortgage RatesWednesday, October 17, 2018

Assistance Amount
0%
3.00%
4.00%
5.00%
FHA/RD/VA
N/A%
6.000%
N/A%
N/A%
Conventional
5.250%
6.125%
6.375%
N/A%

Participating Lenders

To participate in the Authority’s programs, homebuyers must originate their mortgage through one of our participating lenders. These lenders will work with you to determine if you meet the qualifications to be eligible for a mortgage through the Authority.

Capital Region
American Financial Network(985) 778-0899
BancorpSouth Mortgage(225) 768-1100
DHI Mortgage(225) 665-1640
Eustis Mortgage Corporation(225) 292-3203
Fairway Independent Mortgage(225) 664-5998
Franklin American Mortgage Company(225) 376-6420
Gateway Mortgage Group(225) 368-0005
Guild Mortgage(225) 239-4920
Gulf Coast Bank(225) 757-4450
Home Bank(225) 761-2542
Loan Simple(225) 400-5295
Movement Mortgage(225) 341-8846
Nations Reliable Lending(225) 368-0005
NOLA Lending(225) 291-2100
Pacific Union Financial(225) 910-8457
Premier Nationwide Lending(225) 380-0477
Prime Lending(225) 614-9468
Prospect Mortgage, LLC(225) 224-6451
Regions Bank(225) 292-1472
Red River Bank(225) 928-8215
Republic State Mortgage(225) 445-0530
Semper Home Loans(225) 315-0864
Summit Funding Inc.(225) 819-3699
Supreme Lending(225) 248-4000
SWBC Mortgage Baton Rouge(225) 292-2601
US Mortgage Corporation(877) 866-4106
Westin Mortgage Group(225) 304-4311
Whitney Bank(225) 376-4512

Program Income Limits by Parish

ParishFHA, VA, USDA RD Income LimitsFreddie Mac HFA Advantage (Conventional)
Acadia Avoyelles$71,415No Income Limit
Allen$71,415No Income Limit
Ascension$86,020No Income Limit
Assumption$72,335No Income Limit
Beauregard$71,875No Income Limit
Calcasieu$71,415No Income Limi
Cameron$71,415No Income Limit
East Baton Rouge$86,020No Income Limit
East Feliciana$86,020No Income Limit
Evangeline$71,415No Income Limit
Franklin$71,415No Income Limit
Iberia$71,415No Income Limit
Iberville$71,415No Income Limit
Jefferson Davis$71,415No Income Limit
Lafayette$80,960No Income Limit
Lafourche$71,415No Income Limit
Livingston$86,020No Income Limit
Ouachita$71,415No Income Limit
Pointe Coupee$86,020No Income Limit
St. Helena$86,020No Income Limit
St. Landry$71,415No Income Limit
St. Martin$80,960No Income Limit
Tangipahoa$72,795No Income Limit
Terrebonne$71,415No Income Limit
West Baton Rouge$86,020No Income Limit
West Feliciana$86,020No Income Limit
Avoyelles$71,415No Income Limits
Jackson$71,415No Income Limits

Program Borrower Qualifications

The Income Limits on the HFA Advantage Conventional Loan Product have been lifted until further notice.  Ask your lender for more information!