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. Low interest loan programs serve both first time homebuyers and non-first time homebuyers of all family income levels.
Our Bond Loan Program offers low interest rates of 3.75% for FHA/VA loans WITH a down payment or closing cost grant or 3.50% for FHA/VA loans WITHOUT a down payment or closing cost grant. The bond loan is a first mortgage loan product that can fully finance the purchase of your new single or double. The bond loan is a first mortgage loan product that can fully finance the purchase of your new single or double.
| FHA/VA Loan | ||
| WITH Downpayment or closing cost assistance | 3.75% | |
| WITHOUT Downpayment or closing cost assistance | 3.5% | |
We realize how difficult it may be for New Orleans renters to save the down payment required to buy a home. That's why we’re also offering first time homebuyers (whose salary meets income limits) a grant of up to 4% of your mortgage loan amount in down payment or closing cost assistance.
