Lafayette Community Development Fund (LCDF)

• First-time homebuyer who has not owned a home as a primary residence in the past three years and/or displaced homemakers.
• Applicant must occupy the home purchased as his/her principal residence.
• Applicant must have a current signed purchase agreement for the home.
• Applicant must have an adjusted gross income not exceeding the maximum allowable amount.
• Applicant must meet the credit and loan requirements of the participating lender and mortgage insurer for the primary mortgage.
• Applicant must complete a first time homebuyers training program.

• New or existing single family home, condominium or town home which is (1) unoccupied, (2)  occupied by seller, (3) occupied by the applicant(s) and located within Lafayette Parish.
• Manufactured homes, mobile homes, and multi-family are not eligible.
• The property must not exceed the Louisiana Housing Corporation current maximum acquisition cost for residential housing units in the MRB assisted program. www.lhc.la.gov
• The maximum acquisition cost for an existing home or new construction is $316,177

• • Applicant must meet the credit and loan requirements of the participating lender and mortgage insurer for the primary mortgage.

• Applicant must complete a first time homebuyers training program.

Family Size                            Maximum Annual Income

2 or less                                $86,520

3 or more                           $100,940

The Lafayette Public Trust Financing Authority (the “LPTFA”) entered into an agreement with the Capital Area Financing Authority (CAFA) that will provide a competitive 30-year fixed rate mortgage with a non-repayable homebuyer’s grant of up to 4% of the original mortgage amount to qualifying low and moderate income homebuyer families throughout Lafayette Parish.

CAFA has established the following requirements for eligible homebuyers:

1. No first-time homebuyer requirement.
2. Maximum “credit qualifying” income 115% of AMI (currently $72,795 in Lafayette Parish)
3. Maximum home limits; FHA limits as applicable.

This program is administered by CAFA on the behalf of the LPTFA.  Any questions should be directed to CAFA at 225-771-8567.

For a home grant guide, click here. To see the Louisiana CAFA Home Loan Grant Flyer, click here. 

The LCDF services all loans in the First Time Homebuyers Program, including the loans previously serviced by the Lafayette Consolidated Government.

Payments on your loan may be mailed to:

LCDF

P.O. Box 3205

Lafayette, LA 70502

Payments may be made via check, money order or automatic draft.  To enroll in autodraft please fill out form and return to our office with a voided check.   LPTFA Auto Draft Auth

Questions about your loan may be emailed to servicing@lptfa.org or you may call 337-504-2314