Homebuyer Assistance Program Information
These homes are currently UNDER CONSTRUCTION and will be sold to participants who qualify for this SPECIAL PROGRAM. Income must be 80% AMI or below based on family size
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4658 Redwood Street New Orleans - 3 bed, 2 1/2 baths - 1240 square feet
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4727 Redwood Street New Orleans - 3 beds, 2 1/2 baths - 1240 square feet
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Homebuyers may not own greater than a 50% interest in any other residential property at the time of closing.
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Homebuyers must occupy the O-HP property as their primary residence throughout the Affordability Period.
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The household income may not exceed 80% of the area median income (AMI). See income chart.
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All homebuyers will be required to graduate from a HUD approved Homebuyer Education course.
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Homebuyers must contribute a minimum of 1% of the sale price or $1500 (whichever is less) and must have liquid assets in reserve equal to 2 months of proposed household expenses after the payment of closing costs.
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Homebuyers who qualify to receive Purchase Assistance must maintain Homeowner's Insurance and Flood Insurance for the full replacement value for the duration of the loan term.
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Road Home Option 2 or 3 households are eligible but assistance will only fulfill "unmet need". Option 1 recipients are eligible if they met all the terms of their Road Home Covenant.
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Other Conditions May Apply
2020 NEW ORLEANS HUD MEDIAN FAMILY INCOME 80% AMI
We are looking for "Good Neighbors". Are you a law enforcement officer, school teacher K-12, firefighter, or EMT? If so and you meet the income restrictions, please call Betsy at 504-376-7650.
If you are already working with a REALTOR, please have your REALTOR contact Betsy Birdsong.