City of Alexandria Homebuyer's Assistance Program (HAP)
How much assistance
Up to 50% of down payment plus closing costs, mortgage principal reduction, and education training (amount based on demonstrated need) (Forgivable Loan)
Forgivable second mortgage with affordability period based on assistance amount: under $15,000 requires 5-year minimum; $15,000 to $40,000 requires proportional period; over $40,000 requires 15-year minimum. Forgiven at an equal pro-rated percentage for each month of owner-occupancy.
Eligibility
- Income limits: Household income at or below 80% of area median income as determined by HUD.
- First-time buyer required: Yes — Must not have owned a home in the past three years (HUD first-time buyer definition).
- Geographic restrictions: Must purchase an existing or newly constructed home within the city limits of Alexandria, Louisiana.
- Homebuyer education required: Yes
How to Apply for City of Alexandria Homebuyer's Assistance Program (HAP)
Step 1: Contact the City of Alexandria Community Development Department. Applicants must complete homebuyer education training. The assistance is secured by a promissory note and subordinate mortgage signed at closing, with an agreement detailing terms, affordability period, principal residence requirement, and recapture provisions.
Notes
Funded through CDBG, HOME Investment Partnerships Program, and/or other available federal/state funds. Specific dollar cap not publicly listed — amount is based on the homebuyer's demonstrated need. Verify current funding availability with the Community Development Department.