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Get Matched Free →New Orleans Direct Homebuyer Assistance Program
Funding status: Active
How much assistance
Up to $55,000 as a forgivable soft second mortgage plus up to $5,000 in closing cost assistance
Forgiven after 10 years of owner-occupancy. If you sell or move out before 10 years, some or all funds must be repaid.
Eligibility
- Income limits: At or below 80% of Area Median Income (AMI) for New Orleans. Example: single-person household up to $48,650; four-person household up to $69,450.
- First-time buyer required: Yes — Must not have owned a home in the past 3 years.
- Geographic restrictions: Must purchase within the City of New Orleans (Orleans Parish).
- Homebuyer education required: Yes
How to Apply for New Orleans Direct Homebuyer Assistance Program
Contact a participating lender or housing counseling agency. Complete a HUD-approved homebuyer education course. Strict debt-to-income ratio of 29-33% applies. Flood insurance is required regardless of flood zone.
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