Building Financial Assets Through Home Ownership

SMHA designs specially blended mortgage products to make it possible for working families whose income is too low to obtain home loans from traditional lenders to become homeowners.

The funds for these home loans for low-income residents come through SMHA's creative partnerships with local banks, the Rural Housing Service and other public and private sector partners, as well as through SMHA's affiliate, Southern Mutual Financial Services Corporation. SMHA also taps into gap (grant) dollars from the Federal Home Loan Bank of Dallas' Affordable Housing Program to provide up-front dollars for qualified prospective homeowners to help with closing and other out-of-pocket costs, as well as down payments.

Through the Louisiana Rural Home Loan Partnership -- a program created by Southern Mutual Help Association -- we develop and redefine avenues for private-sector investment in low-income communities. This partnership is redefining how the U.S. Department of Agriculture (USDA) does housing in rural America. 

In addition to finding creative ways to make home loans available to low-income families, Southern Mutual is a state-licensed residential contractor. It builds new homes, community facilities and the necessary infrastructure for housing developments and purchases, renovates, and resells existing homes. Funds earned through the housing program are reinvested in the communities being served.


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