CAFA Platinum
Down Payment Assistance Program
Financial assistance for down payments and closing costs in Louisiana, helping low to moderate-income individuals and families achieve homeownership.
CAFA Platinum Advantages
Down Payment Assistance
Offers up to 5% for your down payment, making homeownership more affordable.
No Homebuyer Requirement
CAFA Platinum welcomes all buyers, not just first-timers.
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Competitive Interest Rates
The program offers mortgages with competitive rates.
CAFA Platinum Loan Requirements
Here’s what you’ll need to get started.
- Credit Score Minimum credit score of 620
- Income Limit Varies by Parish
- Debt-to-income ratio AUS approval
- Occupancy required Within 60 days of closing
- Homebuyer Education Informative course required for First-Time Homebuyers
Qualifications
The home loan that unlocks opportunities
Qualifications
The home loan that unlocks opportunities.
- Available throughout Louisiana (except in the Parishes of Jefferson and New Orleans)
- Purchases only
- Single Family Homes, Condominiums, Manufactured Homes, or Townhouses
Connect with a Loan Expert
Our Loan Experts are available to answer all your questions.
Why People Trust Us
Experience: Leading community lender since 1988
Reliability: We hold over 90% of our loans
Flexibility: We offer a variety of loan options tailored to your specific needs
Coverage: Licensed in all 50 states and the District of Columbia
CAFA Platinum FAQs
What is the CAFA Platinum Homebuyer Assistance Program?
The CAFA Platinum program is a down payment assistance initiative designed to help low to moderate-income individuals and families in Louisiana achieve homeownership. It provides up to 5% of the loan amount as assistance in the form of a second mortgage.
Who is eligible for the CAFA Platinum program?
Eligibility is open to all homebuyers, not just first-time buyers. Applicants must meet income and credit requirements, which vary based on the type of mortgage and the property's location.
How can the assistance funds be used?
The funds provided through the CAFA Platinum program can be used for down payment, closing costs, or both, offering flexibility to homebuyers.
Are there any repayment requirements for the assistance?
The assistance is provided as a second mortgage. Specific repayment terms, including the possibility of forgiveness, vary and are determined at the time of loan approval.
What types of properties are eligible under the program?
Eligible property types include single-family homes, townhomes, and condominiums. Manufactured homes may also qualify if they meet specific program guidelines.