1 Visit The Finance Authority of New Orleans website at financeauthority.org to learn about the Own New Orleans Program and find the lists in the steps that follow.

Register for a homebuyer education course and select a Participating Housing Counseling Agency from the list. You may take the homebuyer education course either online or in-person (required for first-time homebuyers).

Select a Participating Lender from the list to help determine the first mortgage loan amount you can afford.

Begin gathering your financial information including your recent W2s, tax returns, bank statements, pay stubs and other sources of income and liabilities as outlined in the Financial Documentation list. Your lender may require additional documents.

Complete a loan application with your lender.

Seek help from a licensed REALTOR® to search for your dream home and negotiate a purchase agreement. To find a local professional, visit the New Orleans Metropolitan Association of REALTORS® at nomar.org.

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Finalize your mortgage application with your lender. Provide the purchase agreement and any other financial documents requested for review.

Receive mortgage loan approval.

Close on your mortgage loan.

MOVE INTO YOUR NEW HOME!

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HOMEBUYER CHECKLIST

We’re here to help. For any questions, please contact us at (504) 524-5533.

FINANCEAUTHORITY.ORG

LEARN MORE AT:

Purchasing a home can be an intimidating process, but it doesn’t have to be! Use the checklist below to guide you each step along the way.

Begin the journey to homeownership!

MAKING NEW ORLEANS A BETTER HOME

No Limit: 1-unitNo Limit: 2-unit

We’re here to help. For any questions, please contact us at:

(504) 524-5533

FINANCEAUTHORITY.ORG

The Finance Authority does not discriminate on the basis of age, race, sex, religion, national origin, physical handicap, political or union affiliation. No person, solely on the basis of any of the above factors, shall be excluded from participation in, be denied the benefits of, or otherwise be subjected to discrimination under the loan programs administered by The Finance Authority of New Orleans.

The Finance Authority of New Orleans201 St. Charles Avenue, Suite 4444

New Orleans, LA 70170

Delmar Financial

Eustis Mortgage

FBT Mortgage

Gulf Coast Bank & Trust

Hancock Whitney Bank

Iberia Bank Mortgage

Liberty Bank & Trust

Mortgage Solutions

New American Funding

NewRez LLC (New Penn Financial)

NFM Lending

NOLA Lending Group

U.S. Mortgage Corporation

Participating LendersWe partner with several banks to serve New Orleans homebuyers the best way we can. We recommend visiting these trusted lenders to learn more about FANO’s signature products and how to qualify:

Find an extensive list of homebuyer education providers and loan originators from each of our Participating Lenders at: www.FinanceAuthority.org

OWN NEW ORLEANS

Freddie Mac

VA

FHA 640

$510,400

$331,760: 1-unit$424,800: 2-unit

Mortgage Loan Limits

PROGRAM REQUIREMENTS

MAKING NEW ORLEANS A BETTER HOME

Am I Eligible?Who: Individuals or families

• Household income below $53,760 (Freddie Mac)or $94,360 (FHA, VA)

• Minimum credit score of 640

• Total debt-to-income less than 45%

• Earn Homebuyer Education Class Certificate

• Qualify for first mortgage with participating lender

What: 1 or 2 unit single family primary residenceMove-in ready home (no renovations)

Where: Orleans Parish

When: Whenever you’re ready!

OWN YOUR PIECE OF NEW ORLEANS

LOAN TYPEMAXIMUM MORTGAGE

MINIMUM CREDIT SCORE

640

640