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Get Matched Free →Homebuyer Programs in New Orleans, LA (2026)
New Orleans is Louisiana's largest city and a major cultural hub situated along the Mississippi River. With a median home price around $270,000, homebuyers in New Orleans have access to some of the most generous assistance programs in the state. The City of New Orleans Direct Homebuyer Assistance Program offers up to $55,000 as a forgivable soft second mortgage plus $5,000 in closing cost assistance, while the Finance New Orleans Green Mortgage Program provides up to $25,000 in 0% interest down payment assistance along with a $2,500 green home improvement stipend. The Expand to Homeownership Program from the Finance Authority of New Orleans adds a grant of up to 4% of the loan amount. At the state level, Louisiana Housing Corporation programs like the Resilience Soft Second and Pathways to Homeownership offer up to $60,000 in forgivable assistance. By combining city and state programs, New Orleans buyers can potentially stack tens of thousands of dollars in down payment and closing cost help.
Top Homebuyer Programs in New Orleans
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Expand to Homeownership Program | Grant | Grant of up to 4% of loan amount for down payment and closing costs | No | View → |
| Finance New Orleans Green Mortgage Program | Forgivable Loan | Up to $25,000 as a 0% interest second mortgage for down payment or closing costs, plus a $2,500 Green Home Improvement Stipend | No | View → |
| HANO Homeownership Program | Deferred Loan | Section 8 Housing Choice Voucher applied toward monthly mortgage and homeownership expenses | Yes | View → |
| New Orleans Direct Homebuyer Assistance Program | Forgivable Loan | Up to $55,000 as a forgivable soft second mortgage plus up to $5,000 in closing cost assistance | Yes | View → |
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
| OnPath Foundation Pathway to Homeownership Grant | Grant | Up to $5,000 for down payment, closing costs, or prepaid expenses | Yes | View → |
| LHC Keys for Service Program | Forgivable Loan | 4% of loan amount for down payment and closing costs | No | View → |
| LHC MRB Home Program | Grant | 5% to 9% of mortgage amount for down payment and closing costs | Yes | View → |
| LHC Pathways to Homeownership Soft Second | Forgivable Loan | Up to 20% of purchase price (up to $55,000) plus up to $5,000 for closing costs (up to $60,000 total) | Yes | View → |
| LHC Preferred Conventional Program | Grant | Up to 4% of total purchase price | Yes | View → |
| LHC Resilience Soft Second Program | Forgivable Loan | Up to $55,000 plus up to $5,000 for closing costs (up to $60,000 total) | Yes | View → |
| Louisiana Mortgage Credit Certificate (MCC) | Tax Credit | Federal tax credit of up to 40% of annual mortgage interest, capped at $2,000 per year | Yes | View → |
- Type:
- Grant
- Amount:
- Grant of up to 4% of loan amount for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $25,000 as a 0% interest second mortgage for down payment or closing costs, plus a $2,500 Green Home Improvement Stipend
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Section 8 Housing Choice Voucher applied toward monthly mortgage and homeownership expenses
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $55,000 as a forgivable soft second mortgage plus up to $5,000 in closing cost assistance
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
- Type:
- Grant
- Amount:
- Up to $5,000 for down payment, closing costs, or prepaid expenses
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- 4% of loan amount for down payment and closing costs
- First-time only:
- No
- Type:
- Grant
- Amount:
- 5% to 9% of mortgage amount for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to 20% of purchase price (up to $55,000) plus up to $5,000 for closing costs (up to $60,000 total)
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to 4% of total purchase price
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $55,000 plus up to $5,000 for closing costs (up to $60,000 total)
- First-time only:
- Yes
- Type:
- Tax Credit
- Amount:
- Federal tax credit of up to 40% of annual mortgage interest, capped at $2,000 per year
- First-time only:
- Yes
How to Apply
- Step 1:
Check your eligibility. Most New Orleans programs require household income at or below 80% of Area Median Income. For a single-person household, that is approximately $48,650; for a four-person household, approximately $69,450. Some programs like the Finance New Orleans Green Mortgage extend to 140% AMI.
- Step 2:
Complete homebuyer education. Neighborhood Housing Services of New Orleans (504-899-5900) offers HUD-approved homebuyer education courses. Online courses through eHome America or Framework are also accepted by most programs.
- Step 3:
Contact a local housing partner. Reach out to Own the Crescent at (855) 228-9328 or info@housingnola.org to learn about City of New Orleans Direct Homebuyer Assistance Programs. Family Resources of New Orleans at 504-822-8519 can also connect you with available programs.
- Step 4:
Get pre-approved for a mortgage. Work with an LHC-approved participating lender or a Finance New Orleans participating lender. OnPath Federal Credit Union at (800) 749-6193 also offers first-time homebuyer mortgage products.
- Step 5:
Find a home within program limits. Some programs have purchase price restrictions. The Expand to Homeownership Program limits FHA loans to $271,050 and conventional/VA loans to $417,000. Ensure the property is within the City of New Orleans (Orleans Parish) for city-specific programs.
- Step 6:
Submit your applications. Your lender will help you apply for the programs you qualify for. Some programs like the Direct Homebuyer Assistance require flood insurance regardless of flood zone. Allow several weeks for processing and underwriting.