New Orleans, LA Home Loans
New Orleans Home Loans for Historic Neighborhoods and Jefferson Parish
Buying in New Orleans means weighing architecture, elevation and insurance as carefully as price. We finance homes across Orleans and Jefferson Parishes with renovation, self-employed and jumbo loans, and Sterling Smith helps you build flood and wind coverage into your budget from the start.
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Your New Orleans Lender
Financing a Home in the Crescent City
New Orleans is a port city, a tourism engine and a cultural landmark, and its housing reflects all three. Creole cottages, shotgun doubles, raised center-halls and Uptown Victorians sit within a few blocks of each other. Universities such as Tulane and Loyola, a large medical district and the port all support local jobs. The Smith Mortgage Group lends here without a local branch; Sterling Smith works with you directly by phone and email. For statewide considerations, see our Louisiana mortgage hub.
Many buyers in the metro weigh Orleans Parish against the suburbs of Jefferson Parish or the Northshore around Slidell. Some relocate here from northwest Louisiana, including Shreveport-Bossier, and want to understand how coastal insurance differs from what they're used to. We start with a soft-credit pre-qualification, review flood zone and insurance costs alongside your budget, and help you choose a loan that fits. We also coordinate with your insurance agent when timing gets tight.
Start your New Orleans pre-approval →Neighborhoods & Nearby
Communities we serve around New Orleans
- Metairie
- Kenner
- Slidell
- Marrero
- Gretna
- Harahan
Local Market Notes
Elevation, Architecture and Insurance in the NOLA Market
Elevation varies block by block in New Orleans, and it affects flood insurance costs, resale and peace of mind. Raised homes on piers may carry lower flood premiums than slab-on-grade houses nearby. Ask for an elevation certificate whenever one is available. Historic homes also bring considerations like termite history, older wiring and foundation leveling, and some neighborhoods have historic district rules for exterior work.
Homeowners insurance in the metro often includes a separate named-storm or wind deductible, and premiums have been a major budget factor. Get quotes before your inspection period ends. Doubles and multi-unit properties are common, and owner-occupants sometimes use rental income from the second unit to help qualify. Our affordability calculator helps you test realistic insurance numbers. Buyers using FHA on a double should know occupancy rules apply.
Loan Programs
Programs That Fit New Orleans Buyers
Renovation financing for historic homes
Many New Orleans homes need updates, from kitchen renovations to raising or leveling. Renovation financing can roll eligible improvements into your purchase loan based on after-repair value. Contractor bids, permits and historic district approvals all play a part in approval.
Bank statement loans for the tourism and service economy
Musicians, chefs, tour operators and other self-employed workers in the hospitality economy may have income that's hard to document traditionally. Bank statement and alternative documentation programs may help. These loans have their own guidelines and pricing, and qualification depends on underwriting.
Jumbo loans for Uptown and Garden District homes
Larger historic homes in Uptown, the Garden District and parts of Metairie can exceed conforming loan limits. Jumbo financing covers higher loan amounts, typically with stronger credit, reserves and down payment requirements. We'll compare jumbo structures against your goals. Reserves often matter as much as credit.
Before You Buy
New Orleans Buying Tips
- Request the seller's elevation certificate and flood insurance history early. Those documents can help you estimate premiums and may influence your offer price. Older certificates may still be useful.
- When buying a double, ask whether projected rent from the second unit can count toward qualifying. Program rules vary, but rental income often helps owner-occupants.
- Order a wood-destroying insect inspection on older homes. Termite damage is common in the region, and lenders may require a clear report or completed treatment before closing.
Answers
New Orleans mortgage questions
How do I finance a historic shotgun house in New Orleans?
Conventional and FHA loans work for historic homes in sound condition. If the property needs repairs, renovation financing can bundle improvements into the mortgage. Historic district rules may apply to exterior changes, so check before planning work, and get a thorough inspection covering foundation, termites and wiring.
How does flood insurance affect my New Orleans mortgage payment?
If the home is in a designated flood zone, flood insurance is generally required, and the premium becomes part of your monthly payment. Elevation, foundation type and other factors influence cost. We'll include the estimate in your qualifying numbers so your approval matches reality.
Can I qualify with tourism, tip or gig income?
Often, yes, if it's documented and consistent. W-2 tip income with a steady history can count. Self-employed workers may qualify using tax returns or, in some cases, bank statement programs. Sterling Smith will review your income and suggest the best documentation approach.
Do you lend in Metairie, Kenner and Slidell?
Yes. We lend throughout Orleans and Jefferson Parishes and the surrounding area, including Metairie, Kenner, Gretna, Harahan, Marrero and Slidell on the Northshore. Because we're licensed in all 50 states, we can help almost anywhere in Louisiana. Westbank buyers are welcome too.
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Talk with Sterling Smith about your New Orleans purchase or refinance: a clear comparison of the programs you qualify for and a timeline that fits your contract.