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Down Payment Assistance Program

The Finance Authority of New Orleans offers two exciting options for down payment assistance on your next 1 or 2 unit single family home!

Down Payment Loan

What is it?

This product is a 30-year FHA or Freddie Mac first mortgage with an interest-free second mortgage (equaling no more than 10% of your approved home loan) to use for down payment assistance.

How does it work?

After qualifying for a first mortgage, you'll receive an interest-free loan as a second mortgage. This second mortgage is to be repaid monthly beginning and ending the same time as the first mortgage payments.

What are the benefits?

  • You'll save money that will help you qualify for the first mortgage.
  • You'll keep money that can be used for other household needs, like buying furniture.
  • You'll have lower monthly payments and start with more equity in the home.
See if you qualify

Down Payment Grant

What is it?

This product is a 30-year FHA or Freddie Mac first mortgage with a forgivable second mortgage (equaling 3% or 5% of your approved home loan) to help with your down payment.

How does it work?

Once you qualify for a first mortgage, you'll receive a sum of money that you would not have to repay, but you must remain in the home for at least 5 years.

What are the benefits?

  • You'll save money that will help you qualify for your first mortgage.
  • You'll have savings to put toward household necessities, such as appliances.
  • You don't have to pay the grant back as long as you remain in the home for 5 years.
See if you qualify

New Orleans
a Better Home

The Finance Authority of New Orleans (FANO) is a housing and development finance agency serving all New Orleanians to better our community. We provide mortgage financing for low-to-moderate income families and credit support for affordable rental and community development projects.

Our mission is to improve the quality of life in the city of New Orleans by directly investing in the creation of affordable housing and economic development projects that produce quality jobs and wealth for residents.

We aim to give every New Orleanian the opportunity to access capital needed for a decent standard of living by way of homeownership and community investment.


Homebuyer Education Counseling

Homebuyer counseling is a required part of eligibility for the program. Counseling must be completed prior to final loan approval. Please register with one of the participating homebuyer education counseling organizations listed below to schedule your 12-hour homebuyer education and training requirement. Only organizations that are certified by the Louisiana Homebuyer Education Collaborative are allowed to fulfill this requirement.

A Shared Initiative, Inc. (504) 733-1733
Contact: Giazzlyn Brumfield
Desire Community Housing Corporation (504) 905-1425
Contact: Wilbert Thomas, Sr.
Family Resources of New Orleans (504) 822-8519
Contact: Kelita Pete
Hazel Hurst Community Center (504) 838-4285
Contact: Bianka Cornish
Jefferson Community Action Program (504) 736-6900
Contact: Bianka Cornish
Lower 9th Ward NENA (504) 373-6483
Contact: Cynthia Ketchens
Marrero Community Center (504) 349-5952
Contact: Bianka Cornish
Neighborhood Development Foundation (NDF) (504) 488-0155
Contact: Fred Johnson
Neighborhood Housing Services of New Orleans, Inc. (NHS) (504) 899-5900
Contact: Amy Batiste
New Day Homeowner Services (985) 288-5826
Contact: Theata Mason
Preservation Resource Center (504) 636-3399
Contact: Sarina Mohan

Participating Lenders

In order to qualify for the program benefits, homebuyers are required to apply for a mortgage at any one of our participating lenders.


Row of New Orleans houses

We're here
to help.

For any questions or to get started with our program, please fill out the form with your contact information or call us at:
(504) 524-5533


618 Baronne Street
New Orleans, LA 70113

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