$275,000
Median Home Price
$233,000
Avg. Loan Amount
383K
Population
14+
Licensed Lenders
Key New Orleans Neighborhoods
Explore popular neighborhoods and their median home prices. Click on map markers for details.
Map Legend
Garden District
$625KHistoric mansions, oak-lined
French Quarter
$475KIconic, tourism hub
Uptown
$425KUniversity area, charming
New Orleans Real Estate Market
Why Non-QM loans are popular in New Orleans
Growing demand for flexible mortgage solutions in New Orleans
Self-employed professionals benefit from bank statement loan programs
Real estate investors use DSCR loans for rental property financing
Non-QM loans available for borrowers with recent credit events
Frequently Asked Questions
Common questions about Non-QM loans in New Orleans
What is the minimum credit score for Non-QM loans in New Orleans?
Most Non-QM lenders serving New Orleans require a minimum credit score of 620-660, though some programs accept scores as low as 580 with compensating factors like larger down payments.
Can I get a bank statement loan in New Orleans, Louisiana?
Yes, bank statement loans are available in New Orleans. Self-employed borrowers can qualify using 12 or 24 months of personal or business bank statements instead of tax returns.
What are DSCR loan requirements in New Orleans?
DSCR loans in New Orleans typically require a debt service coverage ratio of 1.0 or higher, meaning the property's rental income must cover the mortgage payment. No personal income verification is needed.
How much can I borrow with a Non-QM loan in New Orleans?
Non-QM loan amounts in New Orleans typically range from $100,000 to $3 million or more. With a median home price of $275,000, many borrowers find Non-QM loans essential for their purchase.
What Non-QM programs are most popular in New Orleans?
The most popular Non-QM programs in New Orleans include bank statement loans for self-employed borrowers, DSCR loans for real estate investors, and asset depletion loans for high-net-worth individuals.