Bridging the Gap to Homeownership
The biggest hurdle for most first-time
homebuyers isn’t the monthly mortgage payment—it’s saving up for the initial down payment and
closing costs. At the Northeast Louisiana Wealth & Homeownership Alliance, we connect
qualified buyers with thousands of dollars in grants and forgivable loans to turn their
homeownership dreams into reality.
City of Monroe Programs
Specialized funding for buyers
looking to purchase within the city limits. Utilizing HOME funds, these programs offer
substantial assistance for down payments and closing costs to stabilize local
neighborhoods.
- Down Payment/Closing Cost Assistance
Buy Down Program- Individual Development Account (IDA)
Program
Statewide Resources
Statewide Resources- The Louisiana Housing Corporation (LHC) and Capital Area Finance Authority (CAFA) offer statewide mortgage revenue bond programs that include competitive interest rates paired with soft-second loans to cover upfront costs.
Partner Bank Grants
We partner with local lending institutions to offer a variety of mortgage options for first-time homebuyers. Join the Home in Monroe Program today to gain access to all our partner banks.
- FHLB Homebuyer Dream Program
- Individual Development Accounts (IDA)
Your Journey
Starts at The Door!
Who Qualifies?
While every specific grant program has its own unique
guidelines, almost all down payment assistance programs share these core requirements:
First-Time Buyers
Usually defined as someone who hasn’t owned a
principal residence in the last 3 years.
Income Limits
Total household income generally must fall below
80% of the Area Median Income (AMI).
Mortgage Readiness
Must be able to qualify for a traditional
fixed-rate mortgage through an approved lender.
Required Education
Completion of an 8-hour HUD-approved Homebuyer
Education course is strictly required.
The First Step is Education
Because earning your Homebuyer Education
Certificate is mandatory for these programs, it is the absolute best place to start. Sign up for our
class today to get your certificate and meet with a financial coach to determine which grant you
qualify for.