Home Federal Bank will be among the participants in Shreveport’s city-wide Affordable Housing Celebration from 10 a.m. to 1 p.m. Saturday on Marjorie Street. The event is an opportunity for individuals to learn more about purchasing and financing affordable housing in the area.
“We are a community-minded bank, and we strive to educate local citizens on responsible home ownership in our community,” said Jim Barlow, president of HFB. “Encouraging home ownership will only foster the stability and vitality of our local citizens and families.”
The celebration offers attendees the opportunity to tour newly constructed homes designated as affordable housing, as well as enjoy free food and live entertainment from a DJ. Individuals will learn more about Shreveport’s Home Buyers Assistance Program Participation Initiative (HAPPI). This initiative offers down payment, buy down and closing cost assistance through participating local lenders in partnership with the City of Shreveport.
The HAPPI program is designed to assist first time home buyers who have:
- An income of 80 percent or below the area median income, as determined by HUD
- Completed an approved home buyer education class
- Not owned a home or held title to a property for three years or longer
- Sufficient credit to qualify with one of the city's HAPPI approved lenders. All lenders must be HUD approved for business in the Shreveport area.
Property requirements include:
- No HUD, VA, repossessed properties or manufactured housing will be eligible for assistance
- Properties eligible for HUD mortgage insurance or a specific mortgage insurance program must meet minimum property standards. All other assisted housing not eligible for HUD mortgage insurance must meet housing quality standards.
Other incentives are available to applicants purchasing in designated home ownership zones approved by the Community Development Department, and although certain restrictions apply to all applicants receiving HAPPI funds, individuals are invited to learn more about the opportunity at the event.
The Affordable Housing Celebration is coordinated by the local chapter of the National Real Estate Brokers Association and its members. Organizations, businesses and individuals are invited to join this city-wide celebration.
Home Federal Bancorp, Inc. of Louisiana is the holding company for Home Federal Bank which conducts business from its four full-service banking offices and one commercial lending agency office in northwest Louisiana. HFB is a full-service community bank committed to providing an unparalleled level of personal service while helping customers meet all their financial needs. Additional information is available at www.hfbla.com.