LEGACY Home Renovation Loan Program
WHAT IS IT?
Finance New Orleans and Eustis Mortgage have partnered to help New Orleanians purchase or refinance their homes while including renovation costs in one simple loan. The Legacy Home Renovation Loan Program empowers homeowners to build wealth, preserve neighborhood character, and strengthen the city’s resilient housing stock.
1. First Mortgage: Freddie Mac FHA Home Possible Loan
2. Second Mortgage: Up to 5% for down payment assistance (DPA) and/or closing cost assistance
0% Interest
DPA is fully FORGIVEN after 5 years
PROGRAM BENEFITS
1. All-in-One Mortgage:
Combine your home purchase (or refinance) and renovation costs into a single fixed-rate mortgage — simplifying the process and reducing costs.
2. Up to 5% Down Payment & Closing Cost Assistance:
Eligible borrowers can receive up to 5% in assistance to make homeownership more affordable.
3. Flexible Renovation Financing:
Use loan funds to repair, restore, or upgrade your home — from roof improvements and plumbing to energy-efficient upgrades that increase safety and sustainability.
4. Partner Support Every Step:
Finance New Orleans connects you with trusted lenders, contractors, and homebuyer resources to make your renovation successful from start to finish.
Eligibility Qualifications & Terms
Who:
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First-time or repeat homebuyers
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Current homeowners seeking renovation financing
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Must occupy property as primary residence
INCOME LIMITS & CREDIT SCORE:
- 140% AMI Max annual qualifying income
- 80% AMI and lower – Lower mortgage rate & insurance
- Minimum 620 FICO credit score
Where / what:
- Orleans Parish properties only
- 1–4 unit primary residence (subject to loan product guidelines)
- Homes needing renovation or repair (not required to be move-in ready)
Other requirements:
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Complete a HUD-approved Homebuyer Education Course
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Work with a participating Eustis Mortgage lender
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Provide licensed contractor estimates for planned renovations
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Maintain the property as your primary residence
Eligible Renovation Uses:
Funds can be used for a wide range of improvements, including but not limited to:
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Structural repairs and modernization
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Energy-efficient and weather-resilient upgrades
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Roof, plumbing, HVAC, and electrical systems
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Kitchen, bathroom, and accessibility improvements
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Landscaping and stormwater management features
Explore how the Legacy Home Renovation Loan can help you transform your home for generations to come.
SUBMIT Your Homebuyer Program Intake form
with Finance New Orleans!
ABOUT EUSTIS MORTGAGE CORPORATION
Founded in New Orleans in 1956, Eustis Mortgage Corporation is one of the region’s most trusted lenders, committed to helping families achieve and sustain homeownership. With deep local roots and decades of lending experience, Eustis specializes in guiding borrowers through every step of the home financing process — from purchase to renovation and beyond.
As Finance New Orleans’ partner for the Legacy Home Renovation Loan Program, Eustis provides personalized service and flexible mortgage solutions that make it easier for homeowners to preserve and improve their properties. Together, we’re helping residents invest in their homes, strengthen neighborhoods, and build a more resilient New Orleans for generations to come.
Learn more about Eustis Mortgage by visiting www.eustismortgage.com
