Steps to Qualify - "Expand to Homeownership" Grant Program
Visit The Finance Authority of New Orleans website to learn about the program at www.financeauthority.org.
Gather your financial information:
- Tax returns and W-2s for the last three consecutive years
- Bank statements for the last three months
- Pay-stubs for the last three months and financial documents related to all your sources of income:
- listing of all real estate investments,
- listing of all investments in stocks and/or bonds,
- copy of court ordered child support judgement(s), where applicable
- SSI, DHAP, Retirement income verification documents, where applicable
- Evidence of other income, where applicable
Determine the first mortgage loan amount you can afford. You can do this by:
- Visiting a participating lender (click here)
- Visiting a homebuyer training organization (click here)
Complete a loan application with a participating lender. Please bring all documents gathered in step two to the participating lender.
Negotiate an agreement to purchase a home with the seller of a home. You should seek the assistance of a realtor in negotiating the agreement to purchase.
Receive mortgage loan approval.
Close on your mortgage loan.
MOVE INTO YOUR NEW HOME!