Make It Right: Home Financing

The Make It Right program is designed to help Lower 9th Ward residents become homeowners. The buyer is expected to contribute as much of their own resources as they can to cover the purchase price of the home. The average price of a single family home is $150,000; the average price of a duplex is $200,000. Prices vary based on home sizes and designs.

The average resident contribution to date (cash at closing) has been $75,000, usually made up of grants from Road Home, other programs, and outside mortgage financing. Make It Right provides financing to cover the gap. Make It Right offers the following financial products:

Soft seconds - loans with no payments and no interest that are forgiven over a period of time in exchange for the homeowner’s commitment to remain in the home as an owner-occupant

Affordable mortgages - qualifying applicants who can afford monthly mortgage payments but do not qualify for a mortgage from a private bank.