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.
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.
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
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!
View SBP Homes in a larger map
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!
A diverse New Orleans neighborhood with an array of 19th and 20th century housing types.
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
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
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
314 Oak Place – Sold
3900 Ventura Drive – Sold
2704 Creely Drive – Sold
3713 Pecan Drive – Sold
1113 Perrin Drive – Leased
409 Serpas Drive – Leased
2116 Mehle Street – Sold
923 LeBeau Avenue – Sold
8417 Fairfax Drive – Sold
2205 Riverbend Drive – Sold
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.