New Orleans buyers can get down payment help today through the Louisiana Housing Corporation’s four HomeStart programs, which are open statewide through participating lenders. The largest amount, up to $55,000 plus up to $5,000 for closing costs, comes from HomeStart Plus for first-time buyers. Finance New Orleans’ Green Mortgage program has paused new applications for now.
Program terms checked against official sources on October 25, 2026. Terms and funding change; confirm before you apply.
The programs side by side
In September 2026, the Louisiana Housing Corporation replaced its older programs (MRB Assisted, Pathways, Keys for Service and Premier) with four HomeStart programs. Many websites still describe the old names and terms.
| Program | Help available | How it’s structured | Who qualifies | Minimum credit score |
|---|---|---|---|---|
| LHC HomeStart Assist | 4% of the first mortgage amount | 0% second mortgage, forgiven after 60 months | First-time buyers (no home owned as a principal residence in 3 years); income up to 115% of area median income, or 140% in targeted areas | 640 |
| LHC HomeStart Advantage | 4% of the first mortgage amount | 0% second mortgage, forgiven after 60 months | First-time and repeat buyers who own no other home at closing; household income up to $125,000; price up to the FHA loan limit | 640 |
| LHC HomeStart Plus | Up to 20% of the price, capped at $55,000, plus up to $5,000 for closing costs | 0% second mortgage, forgiven monthly over 10 years | First-time buyers in designated hurricane-affected parishes; income up to 80% of area median income; not in flood zones A, AE or V | 640 |
| LHC HomeStart Ready | No separate down payment help | 30-year fixed-rate first mortgage | First-time and repeat buyers; income up to $99,000 | 640 |
| Finance New Orleans Green Mortgage (paused) | When open: up to $25,000 for down payment and closing costs, plus up to $2,500 for energy or storm-resilience improvements | 0% second mortgage; forgivable for lower incomes, repayable above that | Homes inside New Orleans city limits; first-time and repeat buyers. New applications and fund reservations are paused as of October 25, 2026. | See Finance New Orleans for current terms |
Checklist before you apply
- Credit score of 640 or higher for every LHC HomeStart program.
- Income within the program’s limit. LHC limits vary by parish and household size, so check the current chart.
- A homebuyer education course. LHC requires one for its assistance programs. Its approved on-demand options include Finally Home (up to $70) and Frameworks ($75).
- The flood zone of the home you want. HomeStart Plus excludes homes in Special Flood Hazard Areas (zones A, AE and V), so check a home’s FEMA flood zone before you make an offer.
- Some money of your own for HomeStart Plus: at least the greater of 1% of the price or $1,500.
- Plans to stay. Forgivable seconds are forgiven over time only while you meet the program’s requirements, including living in the home. Selling, refinancing or moving early can mean repaying some or all of the assistance.
How I help with these programs
I check eligibility for each program in every respect before you start shopping: income, credit, the property, the flood zone and whether two programs can be combined. That way the assistance doesn’t fall apart at the closing table. I’ll also tell you when a paused program reopens.
Common questions
Do I have to be a first-time buyer?
Not for every program. HomeStart Advantage and HomeStart Ready accept repeat buyers who own no other home at closing. HomeStart Assist and HomeStart Plus are for first-time buyers, which LHC defines as not having owned a home as your principal residence in the past three years.
Is the assistance a grant or a loan?
LHC delivers it as a 0% interest second mortgage that is forgiven over time if you meet the program’s requirements: after 60 months for HomeStart Assist and Advantage, and monthly over 10 years for HomeStart Plus.
Is the Finance New Orleans Green Mortgage available?
Not right now. As of October 25, 2026, Finance New Orleans has paused new Green Mortgage applications and fund reservations while it pursues more funding. You can follow updates on its program page.
Can I combine programs?
Sometimes. It depends on each program’s rules, including how much total help is allowed and the order of the second mortgages. I confirm whether a combination works before you make an offer.
Where do I start?
Get pre-approved with a participating lender and choose a program before you shop, because each program’s price and property limits shape which homes you can buy.
Sources
- Louisiana Housing Corporation: homebuyer programs
- HomeStart Assist, HomeStart Advantage, HomeStart Plus and HomeStart Ready
- Finance New Orleans: Green Mortgage program
Written by Will Gandy, NMLS #93583, lending in New Orleans since 2003. CrossCountry Mortgage, LLC NMLS3029. Branch NMLS #1678577. 802 Fern St Ste 301, New Orleans, LA 70118. Equal Housing Opportunity. All loans subject to underwriting approval. Certain restrictions apply. Program availability and terms are set by each program and may change. This is educational information, not a commitment to lend. Licensing information: www.nmlsconsumeraccess.org.