re: Point me in the right direction to start the loan seeking process on a condo

Beware of taxes and insurance in Nola. I bought a foreclosed condo in lakeview. 3 bed, 2.5 bath, 1800 sq ft for $132K. Great deal, right? Turns out it is just an ok deal. My note is $500 a month. My tax bill was $3,200 for 2013(I know it will go down significantly next year when they update for sale price), which equates to $266/mo. Condo dues are $257 a month, which is driven largely by insurance costs. Before you buy one, make sure the building has a roof style that is preferable for insurers.

The moral of the story is this: before you offer get firm quotes on what kind of insurance the association has and what your gap policy will cost (including flood), go to nolaassessor.com to look up the tax bill and calc what it will be with and without homestead exemption if you plan to rent it out one day, and lastly only buy if the property is listed significantly below fair market value. A property bought for what it is worth will prob not be a good buy after you factor in transaction costs on the back end if you ever sell it/exposure to decreases in neighborhood value/increases in insurance costs etc.