City of Kenner Grant

Homeowner’s Assistance Program

Upon graduation, eligible participants qualify to receive down payment and closing cost assistance of up to $10,000.00 towards the purchase of their first-single family home, and up to $40,000.00 in the form of a deferred mortgage to buy down the mortgage. Assistance toward closing costs and/or down payment requirements up to $10,000.00 is provided to eligible first-time homebuyers of single family properties. The property must be intended for use as the principal residence of the applicant and cannot house any commercial activity or rental units. Following an inspection, the property must be determined to meet local code and HUD Section 8 Housing Quality Standards.

First-time Homebuyers Training

The First-Time Homebuyer Training Program is a CDBG funded activity to provide a homebuyer education class which explains the home-buying process to prospective homeowners, especially first time home-buyers. Topics include: financial preparedness, renting vs. owning, how much house you can afford, working with professionals to find an ideal home, home maintenance and energy management, buyer assistance programs, mortgages, closing costs and homeowners insurance. The overall objective of this program is to develop the skills necessary for potential homebuyers to successfully select and finance a home. In addition, by meeting educational requirements for some grants and loans, the course i.e. homebuyer training removes some of the economic barriers to homeownership for low-to moderate-income participants.

The First-Time Homebuyers Training program compliments the HOME Investment Partnership program, which provides gap financing in the form of a soft second mortgagee to address the affordability gap faced by low – moderate income households desiring to purchase their first home. It meets the need for information about the home buying process for low to moderate-income families. Further, it expands the financial resources of these families by assisting them in meeting the educational requirements of special programs targeted to remove the economic barriers of homeownership for first-time buyers. The long-term outcome of this program is to increase the homeownership rate in the City of Kenner.

In order to enhance the content of the class and to provide financial assistance to the program participants, partnerships were formed with the following agencies to deliver the class: Consumer Credit Counseling of Greater New Orleans, Inc.; Jefferson Community Action Program (JEFFCAP); New Orleans Neighborhood Development Foundation; Family Resources of New Orleans; and Sulli Educational Services. In addition, these agencies also provide Financial Fitness classes certified by the Louisiana Homebuyer Education Collaborative.