professional resume writerprofessional resume writer

SBP's Opportunity Housing: New, Affordable Homes For Sale | St. Bernard Project

St. Bernard Project

Rebuilding the Homes and Lives of Katrina Survivors

Buy a home with SBP!

Nine years after Hurricane Katrina left most of the New Orleans area under water, the community
is still grappling with additional crises resulting from the storm: the lack of affordable housing,
the widespread number of blighted properties and empty lots, and increased housing costs.

SBP’s First Time Homebuyer Program creates affordable homeownership opportunities for residents targeted between 50% and 80%, but up to 120%, of Area Median Income (AMI)/Median Family Income (MFI), while rehabilitating blighted properties and strengthening neighborhoods.

Mortgage payments for our buyers are set between 25-33% of income. SBP works with lenders that offer mortgages to new homeowners with low or no credit –as well as with FHA products. These lenders work with SBP to provide homeowner subsidies, which help increase homeownership in a demographic that is traditionally excluded from the mortgage market.

We are also now proud to offer Lease-to-Purchase and Rental units for qualified tenants! Our Lease-to-Purchase Program is intended to provide an alternative path to homeownership for individuals and families who need time to repair their credit and build savings while living in the home they will one day own. Our Affordable Rental Program will soon offer two- and three-bedroom doubles in Gentilly, the Lower 9th Ward, and the St. Roch neighborhood.

 

One of our homes

Our Process:

Clients are carefully selected to ensure they are long-term residents who have a steady source of income. Homebuyer Training is required to receive subsidies. This 12-hour class will prepare potential buyers for the process of obtaining a mortgage and provide insight into the responsibilities of homeownership. Processes vary by Parish.

General Eligibility
To be eligible for our program, clients must:

  • Not own any other residential property
  • Have lived or worked in the Greater New Orleans Area for three years, or lived here prior to Hurricane Katrina
  • Have a steady source of income
  • If you are buying a home from SBP, your income cannot be greater than 120% AMI/MFI
  • If you are a part of the lease-to-purchase program in Orleans Parish, your income cannot be greater than 80% AMI/MFI
  • If you are renting a home from SBP, you income cannot be greater than 80% AMI/MFI, and for some units it cannot be greater than 50% AMI/MFI

 

2014 AMI/MFI Limits for the GNO area

2014 AMI/MFI Limits for the GNO area by household size

Financing Our Homes
SBP staff members work with clients to:

  • Obtain a loan set between 25-33% of income, which includes principal, interest, property taxes, and flood and homeowner’s insurance (PITI) costs
  • Obtain homeowner’s and flood insurance
  • Provide support through the process to closing on a brand new home!

Our Communities:


View SBP Homes in a larger map

Orleans Parish
Our homes in Orleans Parish are located in Gentilly, New Orleans East and the Lower 9th Ward. By working with SBP, clients gain access to homebuyer subsidies that increase the homeowner’s purchasing power.

The City of New Orleans offers its own soft second mortgage program which helps income eligible buyers make purchases. Households earning up to 120% AMI are eligible for assistance. Households earning up to 80% AMI may access to the maximum $65,000 with an additional $10,000 in closing costs for any home purchased in Orleans Parish. Similar to other programs, this is 0% interest loan that is fully forgiven after 10 years of residency in the home. Click below on your neighborhood of interest to see our available properties.

ALTHOUGH THE CITY’S GENERAL SOFT SECOND PROGRAM IS NOW CLOSED, SBP STILL HAS BUYER SUBSIDIES AVAILABLE FOR FIVE PROPERTIES THAT ARE CURRENTLY UNDER CONSTRUCTION AND MUST BE UNDER CONTRACT BY OCTOBER 31, ACT NOW!

Click on a neighborhood to discover available properties!

Gentilly

A diverse New Orleans neighborhood with an array of 19th and 20th century housing types.

4416 Wellington – $176,000 

4962 Demontluzin – $165,000 

4911 Marigny – Under Contract

5118 Arts – Under Contract

5714 Elysian Fields – Under Contract

1443 Burbank Drive – Under Contract

4924 Lafaye Street – Under Contract

1328 Mandolin St – Sold

4614-16 Baccich Street – Sold

5010 Cartier Avenue – Sold

4602 Baccich Street – Sold

1334 Granada Drive – Sold

3724 Virgil Boulevard – Sold

1460 Granada Drive – Sold

1231 Seville Avenue – Sold

1491 Granada Drive – Sold

1512 Riviera Avenue – Sold

1257 Riviera Avenue – Sold

4833 Paris Avenue – Sold

4430 Wellington Avenue – Sold

5114 Cartier – Sold

New Orleans East

Lower Ninth Ward

An historic area with a cache of civil rights history and cultural achievement.

1800-2 Lamanche Street – Lease-to-Own/Rental Option Available

1801-3 Caffin Ave – Lease-to-Own/Rental Option Available

1800 Charbonnet Street – Leased

1812 Charbonnet Street – Leased

1835 Caffin Avenue – Leased

Little Woods

An up-and-coming area with many subdivisions that offer neighborhood appeal.

7113 W Tamaron – Under Contract

7021 Curran Boulevard – Sold

7541 Sheffield Street – Sold

10141 Chevy Chase Blvd - Sold

6911 Dorchester Street - Sold

7461 Seven Oaks Road - Sold

 

St. Bernard Parish
Our St. Bernard homes, both renovated and newly built, have been funded primarily through private donation to SBP. We do not currently have any available properties outside of Orleans Parish.

Lower St. Bernard

1613 Heights Drive – Leased

2245 Bayou Road – Leased

1824 Heights Drive – Sold

Chalmette

314 Oak Place – Sold

3900 Ventura Drive – Sold

2704 Creely Drive – Sold

3713 Pecan Drive – Sold

Arabi

1113 Perrin Drive – Leased

409 Serpas Drive – Leased

2116 Mehle Street – Sold

923 LeBeau Avenue – Sold

8417 Fairfax Drive – Sold

Violet

2205 Riverbend Drive – Sold

Meraux

4000 Najolia Drive – Sold

 

SBP is a member of Own the Crescent, a project of the Greater New Orleans Housing Alliance. More information is available at the Own the Crescent website or by phone at 1-855-2buyDAT.

Bookmark and Share