Establishes the Dream Starter Program to assist first-generation homebuyers with homeownership costs.
The Dream Starter Act creates the Dream Starter Program, administered by the Louisiana Housing Corporation, to provide assistance to first-generation homebuyers. The program offers help with down payments, closing costs, mortgage insurance, and interest rate buy-downs. To qualify, applicants must meet the definition of a first-generation homebuyer, complete approved homebuyer education and financial counseling, and occupy the property as a principal residence.
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