New Orleans Area Habitat for Humanity Homeownership Program

What is New Orleans Area Habitat for Humanity Homeownership Program?

New Orleans Area Habitat for Humanity Homeownership Program is down payment assistance for homebuyers in New Orleans, Louisiana, administered by New Orleans Area Habitat for Humanity.

• New Orleans Area Habitat for Humanity (NOAHH) offers an affordable homeownership program for income-qualified families in housing need. Selected 'partner families' complete 250 hours of sweat equity (in place of a cash down payment), homeownership education, and purchase a Habitat-built/renovated home with an affordable mortgage whose monthly payment never exceeds 30% of household income. Qualification is based on housing need, ability to pay, and willingness to partner rather than first-time-buyer status.
• No cash down payment (250 sweat-equity hours instead).
• Affordable mortgage capped at 30% of monthly income.
• Homeownership education and partnership support.
• Serves families who cannot obtain conventional financing.
• Habitat-built quality homes.
• Funding comes from Nonprofit (Habitat for Humanity affiliate) - donations, volunteer labor, and affordable mortgage financing.

Do you have to pay it back?

New Orleans Area Habitat for Humanity Homeownership Program is down payment assistance and is repaid under the terms set by New Orleans Area Habitat for Humanity.

• Repayment is triggered by Homebuyer purchases the Habitat-built home with an affordable mortgage held/serviced by NOAHH; monthly payment never exceeds 30% of monthly income. Down payment is replaced by required sweat-equity volunteer hours rather than cash.
• The assistance is recorded in First position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

New Orleans Area Habitat for Humanity Homeownership Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

New Orleans Area Habitat for Humanity Homeownership Program sets its income limit as follows: Minimum income roughly $3,145/month ($37,740/yr before taxes) for a one-person household; maximum income depends on household size (set against AMI). At least two years of stable income required.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

New Orleans Area Habitat for Humanity Homeownership Program can be used for Single Family.

• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

New Orleans Area Habitat for Humanity Homeownership Program serves buyers purchasing in New Orleans, Louisiana.

How do you apply?

Applications for New Orleans Area Habitat for Humanity Homeownership Program go through New Orleans Area Habitat for Humanity, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through NOAHH homeownership/financial education as part of the partner-family process..

2. 2

   Contact New Orleans Area Habitat for Humanity to reserve funds

   Funds are reserved through Application via Family Services Department; selected applicants become 'partner families' and complete sweat-equity hours before selecting a lot/home., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.