City of Lake Charles Down Payment Assistance Program

Administered by: City of Lake Charles Community Development Department · City · Forgivable Loan

Funding status: Active

How much assistance

Up to $10,000 for down payment and closing costs (Forgivable Loan)

Zero percent interest forgivable second mortgage that depreciates equally over 5 years and is fully forgiven at the end of the 5-year period.

Eligibility

  • Income limits: Household income cannot exceed 80% of area median income. Two-person household: up to $50,600/year. Four-person household: up to $63,200/year.
  • First-time buyer required: Yes — Must not have owned a home during the three-year period preceding the HUD-assisted purchase.
  • Geographic restrictions: Property must be located within the city limits of Lake Charles. Only single-family residences are eligible.
  • Homebuyer education required: Yes

How to Apply for City of Lake Charles Down Payment Assistance Program

Step 1: Contact the City of Lake Charles Community Development Office at (337) 491-1440. Funds are available on a first-come, first-served basis. Applicants must complete a homebuyer education course from an approved program and may not hold more than $5,000 in savings unless required by the mortgage company.

Visit program website

Notes

Funded through Community Development Block Grant (CDBG) and HOME Investment Partnership Program funds from HUD.

Cities Where This Program Is Available