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‘Pathway to Homeownership’ Soft-Second Mortgage Loan Program

HOMEBUYER OPPORTUNITY FUND


[THIS FUND IS AWAITING FINAL HUD CLEARANCE AND IS NOT OPEN FOR APPLICATION AT THIS TIME.]

The Homebuyer Opportunity Fund offers soft-second mortgage loans at zero (0%) per cent interest up to $50,000 and a closing cost assistance grant up to $5,000 for homebuyers purchasing homes in the Housing Opportunity Zones whose household incomes are within the following income limits:

Up to $50,000 soft-second loans for household incomes not exceeding 120% of AMI:

1 person 2 persons 3 persons 4 persons 5 persons 6 persons 7 persons 8 persons
$50,300 $57,350 $64,550 $71,750 $77,500 $83,300 $89,050 $94,700

The borrower must also invest at least 2% of the purchase price or $2,500 from personal funds, which ever is the greater, if household income is between 81% - 120% AMI; or 1% of the purchase price or $1,500 from personal funds, which ever is the greater, when household income is below 81% AMI.

To learn more about the ‘Pathway to Homeownership’ Soft-Second Mortgage Loan Program click here.

For more information please call (504) 524-5533 local or (877) 524-5533 toll free.

To fill out the pre-application, CLICK HERE.
 
618 Baronne Street New Orleans, Louisiana 70113-1004 Phone:(504) 524-5533