$3M Grant Goes to Homebuyer Assistance Program

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NEW ORLEANS – Beginning March 11, a city program to help first-time homebuyers will get a boost from a $3 million Community Development Block Grant. TheĀ Direct Homebuyer Soft Second Mortgage Assistance Program provides down payment and closing costs subsidies to eligible homebuyers to cover the gap between the purchase price of a home and their maximum loan amount. Subsidies also include closing costs. Eligible Homebuyers may receive up to $35,000 in soft second funds and up to $5,000 in closing cost assistance.

To qualify, the buyer must:

For More Information, contact Tonya Bernard at (504) 658-4245.

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