Making 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.
Founded by the City Council of New Orleans in 1978 as the “New Orleans Home Mortgage Authority,” our organization began by recognizing and acting on the demand for more affordable home mortgage financing. Today, FANO operates with a seven-member Board of Trustees appointed by the City Council of New Orleans, however we are not a department or division of the city government.
What FANO has invested in New Orleans
Since 1979, FANO has invested more than $650 million into the New Orleans economy. Our efforts have been largely focused on homeownership for low-to-moderate income families. These investments have resulted in more than 8,000 mortgage financings and the creation of affordable rental units for families in need.
Our goal for the future is to continue investing in homeownership because we believe it is the foundation of a functional community. In addition to homeownership, we are increasing our investments in multifamily and economic development projects that create stability in our neighborhoods.
Be part of that number and learn more about our available programs today!
View Our Programs
Frequently Asked Questions
What is the Finance Authority of New Orleans?
The Finance Authority of New Orleans (FANO) is a housing and development finance agency with a mission to improve the quality of life in New Orleans by investing in affordable housing and economic development programs that produce jobs and wealth for residents. FANO was created by the City Council of New Orleans in 1978, but operates independently of City Hall. FANO’s seven-member Board of Trustees is also appointed by the City Council of New Orleans.
What does FANO do?
As a housing and development finance agency, FANO’s role is to provide the community with financial products and investments that stimulate economic growth. FANO operates as a specialty bank by making investments that are generally unattractive to conventional sources of financing. We offer lending programs that support affordable housing, development and infrastructure projects.
How is the agency funded?
FANO is a self-funded quasi-government that has historically financed its operations with municipal bonds and a limited amount of grant support from other governmental agencies. Moving forward, FANO plans to utilize multiple funding sources including municipal bonds, tax credits, community impact investments and grants. FANO is also an associate member of the FHLB of Dallas with full access to their suite of funding products.