Steps to Qualify:

The first step is visit The Finance Authority of New Orleans website to learn about the program at www.financeauthority.org.

The second step is to gather your financial information: tax returns and W-2s for the last three consecutive years, pay-stubs for the last three months, bank statements for the last three months, financial documents related to all your sources of income, listing of all real estate investments, listing of all investments in stocks and/or bonds, listing of the balances due to any creditor or for any credit account owed.

The third step is to determine the first mortgage loan amount you can afford. You can do this by registering with a homebuyer training organization OR visiting a participating lender (see a list of homebuyer training organizations and participating lenders at www.financeauthority.org) OR you can complete a pre-application at our website www. financeauthority.org and a home counselor will call you.

The fourth step is to register with a participating homebuyer training organization certified by the Louisiana Homebuyer Training Collaborative, Inc. and take the required 12-hour homebuyer education and training course. See our website for a list.

The fifth step is to complete a loan application with a participating lender. Please bring all documents gathered in step two to the participating lender.

The sixth step is to negotiate an Agreement to Purchase a home with the seller of a home in a Housing Opportunity Zone OR with New Orleans Redevelopment Authority (NORA) OR with a seller within Orleans Parish who can demonstrate $5200 of Hurricane Katrina/Rita damage. You should seek the assistance of a realtor in negotiating the agreement to purchase.

The final step is to close on your new home loan!

For more information please call (504) 524-5533