Finance Authority of New Orleans

City of New Orleans Soft Second Mortgage Program

 

The Finance Authority's Low Interest First Mortgage Bond Loan and the City of New Orleans Soft Second Mortgage Program may be combined.

Eligible borrower(s) participating in the City of New Orleans Soft Second Program may use this first mortgage bond loan at the 4.00% interest rate, but will not be eligible for additional down payment or closing cost assistance beyond that provided by the City of New Orleans. Minimum required contribution for borrower(s) using the City of New Orleans Soft Second Program will be determined based upon the criteria of that program.


May I use this mortgage loan program with the City of New Orleans Soft Second Mortgage Program?

Yes, only if you are a first-time homebuyer. When applying for your loan at one of our participating lenders, please inform the mortgage originator that you would like to combine the programs: the Finance Authority's Low Interest First Mortgage Bond Loan and the City of New Orleans Soft Second Mortgage Program.

 

For more information about the City of New Orleans' Soft Second Mortgage Program please visit www.nola.gov/softseconds.

 

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