Down Payment Assistance
Finance New Orleans helps eligible homebuyers overcome one of the
biggest barriers to homeownership:
upfront costs.
Our Down Payment Assistance products work alongside a first mortgage
to help qualified buyers cover eligible down payment and closing costs
when purchasing a primary residence in Orleans Parish.
What is Down Payment Assistance?
Down Payment Assistance—or DPA—is financing that helps
reduce the amount of money an eligible homebuyer must
bring to closing.
DPA can help cover:
- A portion of the required down payment
- Eligible mortgage closing costs
- Other home-purchase expenses allowed under the program
Assistance is applied through the home-closing process and
is subject to program eligibility, available funding, and
lender approval.
Is DPA free money?
Not always. DPA may be structured as a
forgivable, deferred, or repayable loan.
Repayment terms depend on the program and the homebuyer’s
eligibility. Homebuyers should review the complete loan
documents and consult with a participating lender to
understand when assistance is forgiven or must be repaid.
GREEN Mortgage Program
The GREEN Mortgage Program helps eligible
homebuyers purchase a primary residence in Orleans Parish by
combining a 30-year fixed-rate first mortgage from a participating
lender with a 0% interest second mortgage of up to $25,000.
Program Highlights
- Up to $25,000 for down payment and eligible closing costs
- Free Whole Home Energy Assessment
- $2,500 Green Home Improvement Stipend for eligible improvements
-
Financing designed to support affordable, energy-efficient
homeownership
Assistance forgiveness and repayment terms vary based on household
income, current program guidelines, and available funding.
Learn More About the GREEN Mortgage Program
subject to change. Visit the program page for the latest
status, requirements, and participating-lender information.
