Learn about Finance New Orleans, including Featured News, Programs, and The Team.

Total Mortgage Amount since 2015
Average Assistance Amount

About Finance New Orleans

Finance New Orleans (FNO) is a housing and development finance agency serving all New Orleanians to better our community. We provide mortgage financing for low-to-moderate income families and credit support for affordable rental and community development projects.

Founded by the City Council of New Orleans in 1978 as the “New Orleans Home Mortgage Authority,” our organization began by recognizing and acting on the demand for more affordable home mortgage financing. Today, FNO operates with a seven-member Board of Trustees appointed by the City Council of New Orleans, however we are not a department or division of the city government.

Since 1979, FNO has invested more than $650 million into the New Orleans economy. Our efforts have been largely focused on homeownership for low-to-moderate income families. These investments have resulted in more than 8,000 mortgage financings and the creation of affordable rental units for families in need.

Our goal for the future is to continue investing in homeownership because we believe it is the foundation of a functional community. In addition to homeownership, we are increasing our investments in multifamily and economic development projects that create stability in our neighborhoods.


Own New Orleans

First mortgage and down payment assistance for 1 or 2 unit single family homes.

Buying a home is a daunting process, and FNO knows that securing a mortgage and supplying a down payment on a home is a huge obstacle to overcome. That’s why we’re here to help you own your piece of New Orleans by providing a first mortgage paired with down payment assistance options to suit your needs.

Whether you’re a first-time homebuyer or an experienced homeowner looking to buy a new home, a first mortgage and down payment relief are never far away.

Program Benefits

  • Save money that will help you qualify for the first mortgage.
  • Keep savings that can be used for other household needs, like purchasing appliances or buying furniture.
  • Start with more equity in the home.
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Multifamily Developer Program

The Multifamily Developer Program was developed to provide tax-exempt bond financing, property tax exemptions (PILOTs) and green infrastructure loans to increase the supply of sustainable affordable housing. The program is also intended to provide the City and Finance New Orleans with local control over affordable housing development.

What is the benefit of receiving PILOTs, and/or Bonds and Tax Credits through Finance New Orleans?
The basic reason affordable housing developers seek property tax relief from the City is to offset the loss in rental income created by offering below market leases to families in need. Finance New Orleans’ PILOT product is structured to meet this basic need while generating a positive return on investment for taxpayers. The process for acquiring a property tax exemption from Finance New Orleans is designed to be fair, transparent and based on predictable market factors. Our primary goal is to stimulate affordable housing development while generating a reasonable market-based financial benefit for taxpayers.

What are the different bond options offered through the Multifamily Developer Program?
The different bond options are Multifamily Housing Bonds, Industrial Development Bonds, as well as 501(c)(3) Bonds. _Multifamily Housing Bonds _allow the developer access to tax-exempt bonds to finance low-income multifamily and senior housing projects. A qualified developer can finance a project at a lower interest rate than available through conventional financing because the interest paid to bondholders is exempt from federal income tax. _Industrial Development Bonds (IDBs), _allow manufacturers to finance projects at a lower interest rate than conventional financing because the interest paid to the bondholders is exempt from federal income tax. And lastly 501(c)(3) Bonds allows any nonprofit organization designated as a 501(c)(3) by the Internal Revenue Service the option to  finance a project at a lower interest rate than available through conventional financing because the interest paid to bondholders is exempt from federal income tax.

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The Team

Damon Burns

President & CEO

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Byron B. Badger

Vice President & Chief Business Officer

(504) 524-5533


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