Committed to Bringing You Home for Over 30 Years!

The Finance Authority of New Orleans is a quasi-governmental agency created to help citizens get low interest mortgage loans to purchase homes in Orleans Parish. Our low interest mortgage loan programs serve both first time homebuyers and non-first time homebuyers of all family income levels.

The "Expand to Homeownership" Grant Program is designed to help New Orleans homebuyers with down payment and closing costs when purchasing a home. This program provides a Grant of up to 4% of the loan amount. All mortgages are fixed rate 30-year loans. Borrowers must occupy the home as their principal residence.

How it Works: If your loan amount is $150,000

OPTION 1 offers a 4% GRANT $150,000 x 4% = $6,000
OPTION 2 offers a 3% GRANT $150,000 x 3% = $4,500
(OPTION 1 will carry a higher mortgage interest rate than OPTION 2)

 

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