LAC 16:II.711. Types of Assistance and Proscribed Use

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.