Baton Rouge FHA Loan Rates, Closing Costs & Stats
BATON ROUGE, LA
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Baton Rouge's 118 lenders originated 2,540 FHA loans during 2023. The total origination value was $596,350,000, with an average FHA loan value of $234,783.
Baton Rouge FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Baton Rouge
averaged
5.92%
for the week of 2024-10-11, compared to the national average (all FHA variants) of
6.1% for the same period.
Baton Rouge's average FHA mortgage closing costs are $7,385.
The average rate for the prior week (2024-10-04) was
5.64% and
one month ago for the week of 2024-09-06, the
average rate was 6.17%.
The average rate one year ago was 7.1%.
For refis of the same type during the week of 2024-10-11, the average rate
was 5.89%.
Baton Rouge FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Baton Rouge level.
The top Baton Rouge FHA lender as defined by loan originations is GMFS LLC, with
340 FHA loans originated. Their average total fees are
$7,457, which is $3,991
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Baton Rouge FHA lenders (with over 10 loans originated) are
DSLD MORTGAGE, LLC ($5,580), Gateway First Bank ($6,876), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($7,224), GMFS LLC ($7,457) and Nations Lending Corporation ($7,458).
The lowest rate Baton Rouge FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.35%), Regions Bank (5.99%), Hancock Whitney Bank (6.05%), AMERISAVE MORTGAGE CORPORATION (6.06%) and PLAZA HOME MORTGAGE, INC. (6.11%).
Baton Rouge FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
BATON ROUGE, LA | ASCENSION | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BATON ROUGE, LA | ASSUMPTION | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BATON ROUGE, LA | EAST BATON ROUG | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BATON ROUGE, LA | EAST FELICIANA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BATON ROUGE, LA | IBERVILLE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BATON ROUGE, LA | LIVINGSTON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BATON ROUGE, LA | POINTE COUPEE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BATON ROUGE, LA | ST. HELENA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BATON ROUGE, LA | WEST BATON ROUG | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BATON ROUGE, LA | WEST FELICIANA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
BATON ROUGE, LA | ASCENSION | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
BATON ROUGE, LA | ASSUMPTION | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
BATON ROUGE, LA | EAST BATON ROUG | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
BATON ROUGE, LA | EAST FELICIANA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
BATON ROUGE, LA | IBERVILLE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
BATON ROUGE, LA | LIVINGSTON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
BATON ROUGE, LA | POINTE COUPEE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
BATON ROUGE, LA | ST. HELENA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
BATON ROUGE, LA | WEST BATON ROUG | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
BATON ROUGE, LA | WEST FELICIANA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Baton Rouge (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $225,000 (2.8%) | $302,742 (3.0%) | 0.83 | 3,170 |
2018-02-01 | $225,725 (5.0%) | $303,581 (3.2%) | 0.82 | 3,191 |
2018-03-01 | $234,900 (6.8%) | $310,732 (3.3%) | 0.82 | 3,427 |
2018-04-01 | $238,375 (5.9%) | $313,803 (2.4%) | 0.81 | 3,504 |
2018-05-01 | $240,400 (5.0%) | $315,434 (1.1%) | 0.80 | 3,662 |
2018-06-01 | $244,900 (7.0%) | $315,969 (2.3%) | 0.82 | 3,881 |
2018-07-01 | $239,900 (4.8%) | $309,749 (0.8%) | 0.80 | 4,009 |
2018-08-01 | $239,900 (5.6%) | $308,155 (1.7%) | 0.80 | 4,035 |
2018-09-01 | $239,900 (5.9%) | $305,962 (1.1%) | 0.81 | 4,012 |
2018-10-01 | $236,400 (3.5%) | $303,358 (-0.1%) | 0.80 | 4,090 |
2018-11-01 | $237,520 (4.6%) | $302,216 (-0.8%) | 0.81 | 4,064 |
2018-12-01 | $236,150 (5.0%) | $299,404 (-1.3%) | 0.81 | 4,016 |
2019-01-01 | $238,370 (5.9%) | $302,018 (-0.2%) | 0.82 | 3,860 |
2019-02-01 | $239,700 (6.2%) | $301,445 (-0.7%) | 0.81 | 3,954 |
2019-03-01 | $242,123 (3.1%) | $307,675 (-1.0%) | 0.79 | 3,997 |
2019-04-01 | $247,000 (3.6%) | $314,723 (0.3%) | 0.78 | 4,056 |
2019-05-01 | $249,900 (4.0%) | $316,332 (0.3%) | 0.78 | 4,090 |
2019-06-01 | $249,999 (2.1%) | $317,157 (0.4%) | 0.78 | 4,188 |
2019-07-01 | $248,691 (3.7%) | $313,625 (1.3%) | 0.78 | 4,245 |
2019-08-01 | $246,836 (2.9%) | $312,385 (1.4%) | 0.78 | 4,264 |
2019-09-01 | $245,241 (2.2%) | $310,440 (1.5%) | 0.78 | 4,226 |
2019-10-01 | $243,475 (3.0%) | $309,143 (1.9%) | 0.79 | 4,201 |
2019-11-01 | $241,095 (1.5%) | $307,892 (1.9%) | 0.79 | 4,153 |
2019-12-01 | $239,950 (1.6%) | $305,009 (1.9%) | 0.80 | 3,980 |
2020-01-01 | $239,900 (0.6%) | $307,134 (1.7%) | 0.80 | 3,806 |
2020-02-01 | $240,950 (0.5%) | $309,674 (2.7%) | 0.79 | 3,821 |
2020-03-01 | $248,975 (2.8%) | $316,539 (2.9%) | 0.78 | 3,836 |
2020-04-01 | $245,975 (-0.4%) | $314,725 (0.0%) | 0.77 | 3,832 |
2020-05-01 | $252,285 (1.0%) | $324,546 (2.6%) | 0.77 | 3,655 |
2020-06-01 | $259,950 (4.0%) | $336,885 (6.2%) | 0.77 | 3,393 |
2020-07-01 | $263,400 (5.9%) | $338,836 (8.0%) | 0.76 | 3,276 |
2020-08-01 | $268,060 (8.6%) | $346,779 (11.0%) | 0.77 | 3,006 |
2020-09-01 | $275,000 (12.1%) | $354,372 (14.2%) | 0.79 | 2,849 |
2020-10-01 | $273,900 (12.5%) | $355,012 (14.8%) | 0.78 | 2,578 |
2020-11-01 | $270,495 (12.2%) | $356,804 (15.9%) | 0.79 | 2,518 |
2020-12-01 | $270,495 (12.7%) | $360,342 (18.1%) | 0.80 | 2,433 |
2021-01-01 | $269,900 (12.5%) | $366,043 (19.2%) | 0.81 | 2,234 |
2021-02-01 | $280,000 (16.2%) | $383,660 (23.9%) | 0.82 | 1,946 |
2021-03-01 | $287,945 (15.7%) | $387,907 (22.6%) | 0.82 | 1,776 |
2021-04-01 | $300,400 (22.1%) | $407,532 (29.5%) | 0.81 | 1,625 |
2021-05-01 | $310,000 (22.9%) | $418,791 (29.0%) | 0.82 | 1,536 |
2021-06-01 | $306,830 (18.0%) | $419,574 (24.6%) | 0.81 | 1,530 |
2021-07-01 | $300,000 (13.9%) | $412,993 (21.9%) | 0.79 | 1,593 |
2021-08-01 | $299,445 (11.7%) | $405,705 (17.0%) | 0.80 | 1,613 |
2021-09-01 | $299,947 (9.1%) | $406,804 (14.8%) | 0.80 | 1,511 |
2021-10-01 | $299,000 (9.2%) | $404,565 (14.0%) | 0.80 | 1,444 |
2021-11-01 | $315,000 (16.5%) | $414,970 (16.3%) | 0.84 | 1,347 |
2021-12-01 | $326,168 (20.6%) | $422,717 (17.3%) | 0.88 | 1,220 |
2022-01-01 | $329,995 (22.3%) | $433,119 (18.3%) | 0.89 | 1,100 |
2022-02-01 | $337,225 (20.4%) | $456,064 (18.9%) | 0.88 | 1,012 |
2022-03-01 | $346,275 (20.3%) | $476,550 (22.9%) | 0.87 | 995 |
2022-04-01 | $340,000 (13.2%) | $479,521 (17.7%) | 0.81 | 1,049 |
2022-05-01 | $325,700 (5.1%) | $453,946 (8.4%) | 0.74 | 1,234 |
2022-06-01 | $326,900 (6.5%) | $444,522 (6.0%) | 0.73 | 1,429 |
2022-07-01 | $325,000 (8.3%) | $427,133 (3.4%) | 0.73 | 1,739 |
2022-08-01 | $322,995 (7.9%) | $421,934 (4.0%) | 0.75 | 1,906 |
2022-09-01 | $324,879 (8.3%) | $420,370 (3.3%) | 0.76 | 1,976 |
2022-10-01 | $324,724 (8.6%) | $418,464 (3.4%) | 0.76 | 2,034 |
2022-11-01 | $320,719 (1.8%) | $415,353 (0.1%) | 0.77 | 2,136 |
2022-12-01 | $320,000 (-1.9%) | $416,382 (-1.5%) | 0.79 | 2,053 |
2023-01-01 | $323,245 (-2.1%) | $415,489 (-4.1%) | 0.80 | 1,885 |
2023-02-01 | $324,350 (-3.8%) | $417,156 (-8.5%) | 0.78 | 1,901 |
2023-03-01 | $325,000 (-6.1%) | $416,064 (-12.7%) | 0.77 | 1,915 |
2023-04-01 | $329,000 (-3.2%) | $417,726 (-12.9%) | 0.77 | 1,937 |
2023-05-01 | $334,000 (2.6%) | $435,291 (-4.1%) | 0.76 | 2,010 |
2023-06-01 | $335,000 (2.5%) | $441,301 (-0.7%) | 0.75 | 2,034 |
2023-07-01 | $325,000 (0.0%) | $434,272 (1.7%) | 0.74 | 2,145 |
2023-08-01 | $319,950 (-0.9%) | $426,371 (1.1%) | 0.73 | 2,285 |
2023-09-01 | $310,000 (-4.6%) | $415,492 (-1.2%) | 0.72 | 2,384 |
2023-10-01 | $301,954 (-7.0%) | $403,445 (-3.6%) | 0.71 | 2,549 |
2023-11-01 | $299,990 (-6.5%) | $399,473 (-3.8%) | 0.71 | 2,576 |
2023-12-01 | $299,000 (-6.6%) | $395,653 (-5.0%) | 0.73 | 2,531 |
2024-01-01 | $294,900 (-8.8%) | $393,136 (-5.4%) | 0.72 | 2,460 |
2024-02-01 | $299,450 (-7.7%) | $400,653 (-4.0%) | 0.72 | 2,373 |
2024-03-01 | $305,000 (-6.2%) | $406,012 (-2.4%) | 0.72 | 2,435 |
2024-04-01 | $312,500 (-5.0%) | $413,422 (-1.0%) | 0.73 | 2,489 |
2024-05-01 | $315,495 (-5.5%) | $419,451 (-3.6%) | 0.71 | 2,559 |
2024-06-01 | $313,685 (-6.4%) | $406,900 (-7.8%) | 0.70 | 2,719 |
2024-07-01 | $312,495 (-3.9%) | $402,663 (-7.3%) | 0.71 | 2,848 |
2024-08-01 | $301,995 (-5.6%) | $394,293 (-7.5%) | 0.70 | 2,975 |
2024-09-01 | $306,675 (-1.1%) | $397,480 (-4.3%) | 0.72 | 2,926 |
Baton Rouge's median listing price comes in at 72% of the national average.
Baton Rouge's average listing price for 2024-09-01 was $397,480, a difference of $-18,012 (-4.3%) versus the prior year and $3,187 versus the prior month.
For the 2024-09-01 period, Baton Rouge had 2,926 MLS listings, a difference of -49 listings (-2%) versus the prior month and 542 listings (23%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Baton Rouge (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 82 days | 1,881 sqft |
2018-02-01 | 80 days | 1,878 sqft |
2018-03-01 | 57 days | 1,908 sqft |
2018-04-01 | 56 days | 1,941 sqft |
2018-05-01 | 59 days | 1,947 sqft |
2018-06-01 | 59 days | 1,965 sqft |
2018-07-01 | 63 days | 1,954 sqft |
2018-08-01 | 68 days | 1,951 sqft |
2018-09-01 | 72 days | 1,942 sqft |
2018-10-01 | 77 days | 1,931 sqft |
2018-11-01 | 81 days | 1,927 sqft |
2018-12-01 | 87 days | 1,910 sqft |
2019-01-01 | 91 days | 1,911 sqft |
2019-02-01 | 83 days | 1,913 sqft |
2019-03-01 | 72 days | 1,930 sqft |
2019-04-01 | 66 days | 1,949 sqft |
2019-05-01 | 66 days | 1,971 sqft |
2019-06-01 | 69 days | 1,973 sqft |
2019-07-01 | 72 days | 1,943 sqft |
2019-08-01 | 73 days | 1,933 sqft |
2019-09-01 | 77 days | 1,928 sqft |
2019-10-01 | 80 days | 1,921 sqft |
2019-11-01 | 86 days | 1,914 sqft |
2019-12-01 | 94 days | 1,902 sqft |
2020-01-01 | 97 days | 1,880 sqft |
2020-02-01 | 87 days | 1,912 sqft |
2020-03-01 | 68 days | 1,925 sqft |
2020-04-01 | 75 days | 1,914 sqft |
2020-05-01 | 85 days | 1,943 sqft |
2020-06-01 | 85 days | 1,982 sqft |
2020-07-01 | 69 days | 1,989 sqft |
2020-08-01 | 66 days | 2,006 sqft |
2020-09-01 | 68 days | 2,051 sqft |
2020-10-01 | 73 days | 2,014 sqft |
2020-11-01 | 72 days | 2,005 sqft |
2020-12-01 | 72 days | 1,992 sqft |
2021-01-01 | 75 days | 1,974 sqft |
2021-02-01 | 74 days | 2,010 sqft |
2021-03-01 | 58 days | 2,011 sqft |
2021-04-01 | 55 days | 2,055 sqft |
2021-05-01 | 51 days | 2,069 sqft |
2021-06-01 | 47 days | 2,035 sqft |
2021-07-01 | 43 days | 2,032 sqft |
2021-08-01 | 47 days | 2,020 sqft |
2021-09-01 | 60 days | 2,022 sqft |
2021-10-01 | 65 days | 2,012 sqft |
2021-11-01 | 59 days | 2,059 sqft |
2021-12-01 | 66 days | 2,075 sqft |
2022-01-01 | 71 days | 2,069 sqft |
2022-02-01 | 61 days | 2,079 sqft |
2022-03-01 | 44 days | 2,111 sqft |
2022-04-01 | 37 days | 2,077 sqft |
2022-05-01 | 37 days | 2,045 sqft |
2022-06-01 | 37 days | 2,038 sqft |
2022-07-01 | 38 days | 2,012 sqft |
2022-08-01 | 49 days | 2,010 sqft |
2022-09-01 | 58 days | 2,010 sqft |
2022-10-01 | 65 days | 2,010 sqft |
2022-11-01 | 67 days | 2,010 sqft |
2022-12-01 | 80 days | 2,010 sqft |
2023-01-01 | 88 days | 2,002 sqft |
2023-02-01 | 86 days | 2,007 sqft |
2023-03-01 | 65 days | 2,004 sqft |
2023-04-01 | 61 days | 2,013 sqft |
2023-05-01 | 60 days | 2,033 sqft |
2023-06-01 | 61 days | 2,023 sqft |
2023-07-01 | 58 days | 1,993 sqft |
2023-08-01 | 58 days | 1,984 sqft |
2023-09-01 | 60 days | 1,961 sqft |
2023-10-01 | 63 days | 1,931 sqft |
2023-11-01 | 69 days | 1,915 sqft |
2023-12-01 | 80 days | 1,894 sqft |
2024-01-01 | 90 days | 1,884 sqft |
2024-02-01 | 87 days | 1,909 sqft |
2024-03-01 | 64 days | 1,930 sqft |
2024-04-01 | 61 days | 1,947 sqft |
2024-05-01 | 61 days | 1,958 sqft |
2024-06-01 | 58 days | 1,927 sqft |
2024-07-01 | 60 days | 1,909 sqft |
2024-08-01 | 65 days | 1,900 sqft |
2024-09-01 | 73 days | 1,904 sqft |
Baton Rouge's median square footage for active listings during the 2024-09-01 period was 1,904 sqft. One year prior, the average listing was 1,961 sqft.