New downpayment assistance for homebuyers

The Finance Authority of New Orleans has introduced a new program for home buyers. The program will provide 3% or 4% in Down payment assistance. There is no First Time homebuyer requirement, and no re-payment of the Grant. For Certain Borrowers 100% Financing is available with this program.

3% or 4% of loan amount for down payment assistance

Minimum Contribution from Buyer is $1,500

No repayment for assistance received

Serving borrowers with incomes up to $82,320

Maximum mortgage loan: $271,050 for FHA, $417,000 Conventional

Must qualify for a mortgage loan with a participating lender

No “first time homebuyer” requirement

All first-time buyers must complete 12-hour certified Homebuyer Education Class

Program enrollment opens Monday, March 23, 2015

Call me for more Details!