LAC 16:II.901. Introduction

A.1. The Workforce Housing Initiative Program is designed to provide citizens of the state of Louisiana that have: a. a demonstrated good credit history with a minimum credit score of at least 660; b. accumulation of borrower’s own funds for a substantial down payment. There is a minimum down payment requirement of 20 percent of the purchase price. Borrower must also have minimum of 2 months principal, interest, taxes and insurance in reserve after paying down payment, pre-paids and closing costs. No gift funds allowed; c. consistent employment history of at least 2 years in current profession; and d. stated income at a level that is typical of the borrower’s profession; 2. to purchase a home for primary residence occupancy utilizing the Workforce Housing Initiative Program.