From the oak-lined streets of Southdown to the bayou bends of Dulac, Houma’s neighborhoods each carry their own price personality. In Broadmoor, a 1,750-sq-ft brick ranch built in the 1980s trades around $165k—perfect for FHA 203(b) buyers who only need 3.5% down. Head east on Hwy 24 to Bayou Blue and you’ll find newer 2005-plus subdivisions like Bayou Blue Estates where $190k buys 2,100 sq ft and a two-car garage; USDA 100% financing is still eligible here because the census tract is considered rural.

Closer to the Gulf Intracoastal Waterway, Morgan City adjacent neighborhoods such as Bayou Black can dip under $150k, but flood insurance jumps to AE zones—budget $150/month. Investors eyeing short-term rentals focus on downtown Houma’s historic district; shotgun doubles sell around $130k per side and rent for $950/month each, meeting the 1% rule. NMHL’s Investor Flex loan lets you qualify using 75% of market rents, even on your first rental.

• Broadmoor/Oaklawn: $160–$175k, low flood, Terrebonne High district
• Bayou Cane: $175–$200k, shopping corridor, 5-min to I-49
• Coteau Road corridor: $150k lots, new construction eligible for VA one-time-close
• Downtown historic: $130k doubles, eligible for 3% down HomeReady if owner-occupied

Louisiana’s homestead exemption is generous, and Houma buyers benefit twice. The parish assessor values owner-occupied homes at 10% of fair market, then multiplies by a 2024 millage of 104.7 mills. On the $175k median, that works out to $915/year after the $75k state homestead exemption—roughly $76/month escrow. Compare that to neighboring Lafourche Parish where millages top 120 mills and you’re saving $25/month simply by buying in Houma city limits.

Insurance is the bigger variable. Wind & hail is required inside 50 miles of the coast; expect 1.3% of coverage amount ($2,275/year on a $175k policy). If the roof is 2008-or-newer architectural shingles, NMHL’s insurance desk can secure a 28% mitigation credit. Flood, as noted, ranges $450–$1,800. We bundle all three into a single escrow analysis so your debt-to-income ratio is bulletproof when the file reaches underwriting.

Finally, don’t forget the Louisiana Mortgage Credit Certificate (MCC). Available through the Louisiana Housing Corporation, it gives a 40% federal tax credit on mortgage interest up to $2,000 every year for the life of the loan—effectively reducing your 7% note rate to 5.3% on an after-tax basis. NMHL is an approved MCC lender and we file the paperwork simultaneous with your loan so there’s no second signing appointment.

Zero-down myths abound, but Houma buyers have three realistic paths: VA, USDA, and grants. Active-duty Coast Guard, veterans, and surviving spouses can finance 100% up to $726k with no monthly mortgage insurance. USDA covers the rural edges of Bayou Blue, Gray, and Schriever—buy up to $110k with zero down and only a 1% guarantee fee that can be rolled into the loan.

If your income is under 80% AMI ($55,600 for a 2-person household), the Louisiana Resettlement Grant hands you $55,000 in forgiven debt after five years. Work in education, healthcare, or parish government? Terrebonne Parish chips in an extra $5,000 that can be stacked on top. NMHL averages a 96% approval rate for clients who qualify on paper because we front-load income docs and run the grant portal ourselves—no referral to a separate nonprofit that slows the clock.

First-time buyers earning 120–140% AMI still have options. NMHL’s 3-2-1 Home program pairs a 3% down conventional loan with a 2% lender rebate and 1% closing-cost grant, effectively bringing cash-to-close to $0 on a $175k purchase. Credit score floor is 620; gift funds allowed for the 3% down if you want to keep savings aside for hurricane shutters or a generator—both smart moves below I-10.

Houma’s economy runs on captains, crew boats, shrimpers, and oil-field fabrication shops—most pay themselves modest W-2s then sweep the rest as distributions. Traditional lenders average two years of tax returns, often showing negative income after depreciation. NMHL’s Bank-Statement Program uses 12 or 24 months of business statements, deposits averaged, and expenses at 15% to calculate qualifying income. Credit scores as low as 620 accepted; down payment 10% with no PMI.

For gig workers driving the Houma-Thibodaux corridor with Uber or delivering for Waitr, we offer Fannie’s 1073 Asset Depletion loan: we take your bank balance divided by 60 and add it to documented platform earnings. A driver with $40k in the bank instantly gains $667/month in usable income—enough to qualify for an extra $20k purchase price.

Seasonal crabbers and oyster harvesters can use our 1099 Only product: supply 12 months of 1099s plus a YTD profit-and-loss; no tax transcripts required. Loan amounts to $715k, so buying waterfront on Grand Caillou Bay is realistic. We close in the off-season when income looks lower because our underwriters understand you’re paid dockside at harvest.

Local credit-union turn-downs usually cite the same 640 middle score. NMHL’s Credit Rebuild Roadmap starts with a tri-merge report and a rapid-rescore engine that updates in 5–7 business days, not 30. We’ve seen 42-point jumps just by paying two credit-card balances below 30% and removing an old Verizon collection that should’ve dropped off in 2022.

If you’re coming out of a Chapter 13, FHA allows financing one year after disbursement with trustee approval. We maintain a list of Houma-area credit counselors and $500 secured credit cards at LA Capitol FCU that report all three bureaus. Follow the plan for 90 days and 70% of past clients hit 620; 45% clear 660, unlocking conventional 3% down and cheaper PMI.

Medical collections under $500 are ignored entirely; over $500 we negotiate a pay-for-delete using Louisiana’s strict HIPAA process. Repos and foreclosures? VA only needs two years seasoning and a 580 score, so veterans who lost homes during the 2020 oil-bust layoffs are buying again right now. NMHL’s free Credit Compass portal tracks your progression in real time and alerts you the moment you hit the score that qualifies for the rate you want.

Whether you’re house-hunting on the bayou or scrolling Zillow from the base, the smartest move is a 10-minute online pre-approval. Upload your last 30 days of pay stubs—or 12 months of bank statements if you’re self-employed—and our Houma loan officers will issue a same-day pre-approval letter valid for 90 days. We’ll pair you with a local realtor who knows which streets require flood insurance and which don’t, so you can shop confidently in your target payment.

Lock your rate for up to 90 days while you search; if rates drop, we float you down once at no cost. Need to bump your offer? Our Priority Credit Approval carries the same weight as cash in Terrebonne Parish because sellers know NMHL underwrites locally and never has last-minute underwriting conditions shipped in from out-of-state.

Ready to run numbers? Use the Houma Mortgage Calculator on this page, then call 985-800-LOAN or click Apply Now. We’ll have your Louisiana Mortgage Credit Certificate, flood-zone certification, and closing-cost estimate back to you within one business day—so you can focus on picking the porch that faces the sunset over Bayou Terrebonne.