Orleans Parish ended last quarter with a 2.7-month supply of homes—firmly a seller’s market, but nowhere near the sub-30-day inventory of Nashville or Austin. Median days-on-market is 28, yet properly-priced shotguns under $275 K in Mid-City and St. Roch still attract 8-12 offers within a week. Interest-rate bumps have trimmed peak prices by about 4 % since spring, giving patient buyers room to negotiate inspection repairs or seller-paid closing costs. Pro tip: listings hitting MLS between Jazz Fest and Essence Festival historically sit 9 days longer—use that seasonal lull to strike.

• Conventional 30-year fixed: averaging 6.75 % with 0.7 pts
• FHA 30-year: 6.625 % with 1 pt, MI factor 0.55 %
• VA 30-year for 100 % disabled vets: 5.75 % with lender credit covering escrow setup

NMHL’s rate-shopping engine pulls wholesale pricing from seven investors that still love Louisiana paper, so the rate we quote at 9 a.m. is the same one we lock at 5 p.m.—no bait-and-switch.

Garden District mansions are hovering at $580 psf, but head north of Claiborne and you’ll find immaculate renovated shotguns for $210 psf in Dublin and Leonidas. First-time buyers who need three bedrooms under $300 K should focus on Gentilly Terrace—architecturally unique 1930s bungalows on raised piers, many in Zone X so flood insurance stays cheap. Investors eyeing short-term rental income still flock to Marigny, but the city’s new licensing cap makes buying an already-permitted STR the smarter play; we offer 15 % down investor DSCR loans that qualify you on the property’s cash flow, not your personal DTI.

Tech transplants priced out of Austin are resetting the market in Algiers Point; 5-minute ferry ride to Canal Street and Victorian cottages trading at $180 psf. We’ve pre-approved 42 buyers there this year—all used NMHL’s zero-fee 90-day rate-lock float down, so when rates dipped they re-locked for free.

Louisiana’s flagship Resilience Soft-Second program just received a $30 M replenishment—4 % forgiven after 10 years if you stay in the home. Pair it with the LHC MRB and your effective rate drops to 5.25 % on a 30-year fixed. Teachers, firefighters, and nurses can stack an additional $7,500 from the Community Heroes initiative; we handle the employer certification for you.

City of New Orleans Smart Growth Incentive offers $25,000 toward a down payment on new-construction infill lots in Mid-City, St. Roch, and the 7th Ward—no resale restrictions. You need a 640 score and income under 120 % AMI ($75,120 for a single buyer). NMHL was chosen as one of three preferred lenders, so our underwriters can get your file conditionally approved before you even pick a builder.

New Orleans is a city of second acts, and your credit story doesn’t end with a 580 score. NMHL’s Fresh-Start Prime program allows non-traditional credit: Entergy bill, rental ledger from your landlord on St. Claude, and even consistent Cash App rent transfers. We ignore medical collections under $5 K and will rapid-rescore paid-down credit cards in 5 business days—usually worth 20-40 points.

Recent client: line cook at Commander’s Palace, 603 score, $62 K reported income plus $18 K tips. We used 24 months of bank statements, paid down two cards from 90 % to 10 % utilization, and rescore jumped him to 661—saved $127/month on PMI. Closed on a $235 K double in Treme with 3.5 % down.

From French Quarter tour guides to Frenchmen Street bands, New Orleans runs on 1099 income. Our Bank-Statement Advantage needs no tax returns—just 12 or 24 months of business or personal statements. We add back one-time expenses (that new trumpet or kitchen equipment) and gross-up deposits by the local tip-credit factor (1.15x in hospitality corridors). Average client keeps an extra $8,200 of write-offs on their return, yet still qualifies for $425 K with 10 % down.

If you hold STR permits, we can count 75 % of documented Airbnb income after the platform service fee—most banks cap at 50 %. We’ll even use future rental income on a duplex if you house-hack one side; projected rents must be confirmed by a local property manager (we have three on speed-dial).

With NAS JRB Belle Chase, the Naval Marine Reserve, and thousands of veterans who stayed after Katrina, New Orleans has a huge military footprint. VA buyers get 100 % financing to $766,550 in Orleans Parish—even on a duplex if you occupy one unit. Surviving spouses can tap the same benefit with a 0 % funding fee, and if you’re 10 % disabled or more, the VA funding fee is waived entirely.

NMHL’s VA Rate-Relief lets you refinance in 210 days with no appraisal, no income docs, and we roll the 0.5 % funding fee into the rate—no cash needed. Last year we saved veterans an average of $267/month by dropping their rate 1.25 %.