Lake Charles FHA Loan Rates, Closing Costs & Stats

LAKE CHARLES, LA

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    • 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.

    Lake Charles's 70 lenders originated 668 FHA loans during 2024. The total origination value was $142,110,000, with an average FHA loan value of $212,740.

    Lake Charles FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lake Charles averaged 6.44% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Lake Charles's average FHA mortgage closing costs are $7,150.

    The average rate for the prior week (2025-03-28) was 6.24% and one month ago for the week of 2025-02-28, the average rate was 6.22%.

    The average rate one year ago was 6.64%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.21%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Lake Charles 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 Lake Charles level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    HOMESIDE FINANCIAL, LLC 62 6.66% $9,893
    DHI MORTGAGE COMPANY, LTD. 60 4.71% $7,151
    FIDELITY BANK 57 6.43% $8,161
    DSLD MORTGAGE, LLC 51 5.10% $5,012
    UNITED WHOLESALE MORTGAGE, LLC 48 6.44% $9,293
    FREEDOM MORTGAGE CORPORATION 31 6.41% $8,993
    AFFORDABLE MORTGAGE ADVISORS, LLC. 24 6.54% $8,752
    GMFS LLC 23 6.62% $6,415
    NEWREZ LLC 23 6.60% $9,079
    QUICKEN LOANS, LLC 23 6.44% $10,602
    Red River Bank 16 6.04% $7,500
    Nations Lending Corporation 15 7.01% $5,200
    Equity Prime Mortgage LLC 15 6.39% $9,146
    T2 FINANCIAL LLC 12 7.06% $9,823
    INSPIRE HOME LOANS INC. 11 4.68% $7,692
    AMERICAN FINANCIAL RESOURCES, INC. 10 6.79% $9,015
    MORTGAGE FINANCIAL SERVICES, LLC 9 6.29% $9,199
    PENNYMAC LOAN SERVICES, LLC 8 6.05% $6,465
    EUSTIS AND AMERICAN MORTGAGE COMPANY 7 6.64% $6,501
    JPMorgan Chase Bank 5 6.45% $8,597
    LOANDEPOT.COM, LLC 4 6.12% $9,749
    Plains Commerce Bank 4 6.34% $8,551
    Merchants Bank of Indiana 4 6.41% $10,255
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 7.13% $11,332
    UNION HOME MORTGAGE CORP. 4 7.00% $9,397
    AMERISAVE MORTGAGE CORPORATION 4 6.03% $12,675
    THE MORTGAGE FIRM, INC. 4 7.06% $7,529
    First Horizon Bank 3 6.39% $10,601
    Mortgage Research Center, LLC 3 6.83% $6,495
    Flagstar Bank, FSB 3 6.83% $7,024
    STOCKTON MORTGAGE CORPORATION 3 6.92% $7,504
    MICHIGAN MUTUAL, INC. 3 6.33% $10,037
    Hancock Whitney Bank 2 5.94% $7,777
    Hamilton Mortgage Corporation 2 6.00% $16,235
    VILLAGE CAPITAL MORTGAGE 2 6.81% $3,942
    DAS Acquisition Company, LLC 2 7.25% $8,127
    CANOPY MORTGAGE, LLC 2 6.25% $16,098
    TOWNE MORTGAGE COMPANY 2 6.06% $9,910
    GENEVA FINANCIAL, LLC 2 6.69% $10,785
    PLANET HOME LENDING, LLC 2 6.18% $4,652
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.88% $20,210
    AMERICAN FINANCING CORPORATION 2 6.38% $8,969
    ZILLOW HOME LOANS, LLC 1 6.75% $12,681
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.25% $13,275
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.00% $11,548
    Assurance Financial Group, L.L.C. 1 7.00% $9,580
    BancorpSouth 1 6.63% $7,865
    BROKER SOLUTIONS, INC. 1 7.25% $9,909
    Carrington Mortgage Services, LLC 1 5.63% $8,615
    Citizens Bank 1 6.88% $8,392
    CROSSCOUNTRY MORTGAGE, LLC 1 6.99% $10,953
    Gateway First Bank 1 5.88% $11,221
    Gulf Coast Bank and Trust Company 1 6.25% $5,329
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.13% $6,326
    Hometown Equity Mortgage, LLC 1 5.25% $17,764
    KEESLER 1 4.88% $7,661
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $7,526
    LEGEND LENDING CORPORATION 1 6.63% $16,956
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.75% $6,565
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $14,617
    OCMBC, INC. 1 7.50% $8,088
    Old National Bank 1 6.13% $4,900
    PLAZA HOME MORTGAGE, INC. 1 7.75% $6,438
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.25% $14,686
    Renasant Bank 1 6.75% $9,803
    Sabine State Bank and Trust Company 1 6.63% $9,240
    STANDARD MORTGAGE CORPORATION 1 5.88% $9,865
    Summit Mortgage Corporation 1 6.25% $11,805
    U.S. Bank 1 6.99% $11,040
    Waterstone Mortgage Corporation 1 6.63% $8,971

    The top Lake Charles FHA lender as defined by loan originations is HOMESIDE FINANCIAL, LLC, with 62 FHA loans originated. Their average total fees are $9,893, which is $2,742 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Lake Charles FHA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($5,012), Nations Lending Corporation ($5,200), GMFS LLC ($6,415), DHI MORTGAGE COMPANY, LTD. ($7,151) and Red River Bank ($7,500).

    The lowest rate Lake Charles FHA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. (4.68%), DHI MORTGAGE COMPANY, LTD. (4.71%), DSLD MORTGAGE, LLC (5.10%), Red River Bank (6.04%) and Equity Prime Mortgage LLC (6.39%).

    Lake Charles FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LAKE CHARLES, LA CALCASIEU 2022 $420,680 $538,650 $651,050 $809,150
    LAKE CHARLES, LA CAMERON 2022 $420,680 $538,650 $651,050 $809,150
    LAKE CHARLES, LA CALCASIEU 2023 $472,030 $604,400 $730,525 $907,900
    LAKE CHARLES, LA CAMERON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lake Charles (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $224,900 (-2.2%) $284,992 (-10.5%) 0.83 932
    2018-02-01 $224,250 (-2.3%) $281,913 (-10.3%) 0.81 917
    2018-03-01 $226,200 (-4.8%) $284,167 (-10.9%) 0.79 913
    2018-04-01 $228,250 (-4.9%) $285,599 (-11.6%) 0.77 904
    2018-05-01 $234,250 (-4.4%) $299,216 (-9.5%) 0.78 892
    2018-06-01 $230,000 (-4.5%) $294,629 (-10.4%) 0.77 969
    2018-07-01 $225,450 (-6.0%) $289,788 (-9.1%) 0.75 1,007
    2018-08-01 $231,292 (-2.2%) $316,473 (4.1%) 0.77 1,032
    2018-09-01 $228,000 (-2.9%) $309,421 (4.4%) 0.77 1,056
    2018-10-01 $229,700 (-0.1%) $300,606 (2.0%) 0.78 1,084
    2018-11-01 $226,250 (0.3%) $303,167 (3.3%) 0.77 1,101
    2018-12-01 $226,200 (0.5%) $308,462 (5.5%) 0.78 1,094
    2019-01-01 $225,889 (0.4%) $304,557 (6.9%) 0.78 1,073
    2019-02-01 $229,000 (2.1%) $305,724 (8.5%) 0.77 1,078
    2019-03-01 $229,429 (1.4%) $309,403 (8.9%) 0.75 1,057
    2019-04-01 $232,450 (1.8%) $314,140 (10.0%) 0.74 1,035
    2019-05-01 $237,350 (1.3%) $324,349 (8.4%) 0.74 998
    2019-06-01 $237,000 (3.0%) $320,658 (8.8%) 0.74 976
    2019-07-01 $231,250 (2.6%) $315,308 (8.8%) 0.72 1,040
    2019-08-01 $228,609 (-1.2%) $310,639 (-1.8%) 0.72 1,068
    2019-09-01 $226,523 (-0.7%) $308,776 (-0.2%) 0.72 1,073
    2019-10-01 $225,182 (-2.0%) $310,409 (3.3%) 0.73 1,061
    2019-11-01 $225,000 (-0.6%) $308,675 (1.8%) 0.74 1,045
    2019-12-01 $215,000 (-5.0%) $252,454 (-18.2%) 0.72 933
    2020-01-01 $215,000 (-4.8%) $253,974 (-16.6%) 0.72 916
    2020-02-01 $218,200 (-4.7%) $257,225 (-15.9%) 0.71 926
    2020-03-01 $216,443 (-5.7%) $262,914 (-15.0%) 0.68 940
    2020-04-01 $215,313 (-7.4%) $261,860 (-16.6%) 0.67 960
    2020-05-01 $219,000 (-7.7%) $264,939 (-18.3%) 0.67 943
    2020-06-01 $219,950 (-7.2%) $271,135 (-15.4%) 0.65 929
    2020-07-01 $219,900 (-4.9%) $273,837 (-13.2%) 0.64 916
    2020-08-01 $219,225 (-4.1%) $276,891 (-10.9%) 0.63 915
    2020-09-01 $219,000 (-3.3%) $275,448 (-10.8%) 0.63 746
    2020-10-01 $223,500 (-0.8%) $281,582 (-9.3%) 0.64 619
    2020-11-01 $225,125 (0.1%) $272,815 (-11.6%) 0.66 567
    2020-12-01 $226,000 (5.1%) $270,723 (7.2%) 0.67 538
    2021-01-01 $230,000 (7.0%) $272,581 (7.3%) 0.69 492
    2021-02-01 $242,083 (11.0%) $286,672 (11.5%) 0.70 443
    2021-03-01 $233,600 (7.9%) $284,131 (8.1%) 0.66 396
    2021-04-01 $231,450 (7.5%) $282,027 (7.7%) 0.63 382
    2021-05-01 $229,500 (4.8%) $287,957 (8.7%) 0.61 337
    2021-06-01 $225,000 (2.3%) $286,061 (5.5%) 0.59 329
    2021-07-01 $228,950 (4.1%) $282,854 (3.3%) 0.60 370
    2021-08-01 $226,541 (3.3%) $284,033 (2.6%) 0.60 410
    2021-09-01 $227,250 (3.8%) $278,933 (1.3%) 0.61 458
    2021-10-01 $219,000 (-2.0%) $272,234 (-3.3%) 0.58 500
    2021-11-01 $219,675 (-2.4%) $266,883 (-2.2%) 0.59 542
    2021-12-01 $215,950 (-4.5%) $257,900 (-4.7%) 0.59 569
    2022-01-01 $220,325 (-4.2%) $261,246 (-4.2%) 0.60 533
    2022-02-01 $215,875 (-10.8%) $261,910 (-8.6%) 0.56 524
    2022-03-01 $216,249 (-7.4%) $263,047 (-7.4%) 0.54 509
    2022-04-01 $218,448 (-5.6%) $273,566 (-3.0%) 0.52 504
    2022-05-01 $218,425 (-4.8%) $279,531 (-2.9%) 0.50 545
    2022-06-01 $234,900 (4.4%) $287,476 (0.5%) 0.52 619
    2022-07-01 $235,000 (2.6%) $281,075 (-0.6%) 0.53 703
    2022-08-01 $228,125 (0.7%) $274,156 (-3.5%) 0.53 763
    2022-09-01 $225,000 (-1.0%) $268,095 (-3.9%) 0.53 809
    2022-10-01 $232,500 (6.2%) $270,255 (-0.7%) 0.55 882
    2022-11-01 $232,200 (5.7%) $268,733 (0.7%) 0.56 929
    2022-12-01 $229,700 (6.4%) $267,004 (3.5%) 0.57 941
    2023-01-01 $229,950 (4.4%) $269,416 (3.1%) 0.57 901
    2023-02-01 $225,250 (4.3%) $265,161 (1.2%) 0.54 876
    2023-03-01 $233,250 (7.9%) $276,625 (5.2%) 0.55 879
    2023-04-01 $230,000 (5.3%) $279,273 (2.1%) 0.53 871
    2023-05-01 $237,750 (8.9%) $289,057 (3.4%) 0.54 964
    2023-06-01 $241,950 (3.0%) $292,605 (1.8%) 0.54 949
    2023-07-01 $244,800 (4.2%) $289,865 (3.1%) 0.56 984
    2023-08-01 $239,850 (5.1%) $289,260 (5.5%) 0.55 999
    2023-09-01 $237,000 (5.3%) $284,917 (6.3%) 0.55 1,007
    2023-10-01 $235,250 (1.2%) $287,017 (6.2%) 0.55 997
    2023-11-01 $235,250 (1.3%) $286,114 (6.5%) 0.56 982
    2023-12-01 $239,000 (4.1%) $285,898 (7.1%) 0.58 962
    2024-01-01 $238,625 (3.8%) $286,459 (6.3%) 0.58 910
    2024-02-01 $239,925 (6.5%) $288,804 (8.9%) 0.58 952
    2024-03-01 $243,500 (4.4%) $295,038 (6.7%) 0.57 981
    2024-04-01 $242,500 (5.4%) $302,020 (8.2%) 0.56 996
    2024-05-01 $247,000 (3.9%) $307,994 (6.6%) 0.56 987
    2024-06-01 $242,750 (0.3%) $304,685 (4.1%) 0.55 996
    2024-07-01 $238,375 (-2.6%) $300,768 (3.8%) 0.55 1,071
    2024-08-01 $235,750 (-1.7%) $299,651 (3.6%) 0.55 1,077
    2024-09-01 $239,500 (1.1%) $302,161 (6.1%) 0.56 1,067
    2024-10-01 $236,000 (0.3%) $297,486 (3.7%) 0.56 1,074
    2024-11-01 $237,000 (0.7%) $296,559 (3.7%) 0.57 1,077
    2024-12-01 $235,250 (-1.6%) $290,157 (1.5%) 0.58 1,082
    2025-01-01 $235,000 (-1.5%) $289,527 (1.1%) 0.59 1,043
    2025-02-01 $234,950 (-2.1%) $286,569 (-0.8%) 0.57 1,055
    2025-03-01 $234,900 (-3.5%) $281,340 (-4.6%) 0.00 1,069
    Lake Charles's median listing price for 2025-03-01 was $234,900, a difference of $-8,600 (-3.5%) versus the prior year and $-50 versus the prior month.

    Lake Charles's median listing price comes in at 0% of the national average.

    Lake Charles's average listing price for 2025-03-01 was $281,340, a difference of $-13,698 (-4.6%) versus the prior year and $-5,229 versus the prior month.

    For the 2025-03-01 period, Lake Charles had 1,069 MLS listings, a difference of 14 listings (1%) versus the prior month and 88 listings (9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lake Charles (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 84 days 1,943 sqft
    2018-02-01 87 days 1,919 sqft
    2018-03-01 79 days 1,925 sqft
    2018-04-01 71 days 1,933 sqft
    2018-05-01 72 days 1,972 sqft
    2018-06-01 72 days 1,977 sqft
    2018-07-01 76 days 1,972 sqft
    2018-08-01 79 days 2,004 sqft
    2018-09-01 81 days 1,971 sqft
    2018-10-01 79 days 1,982 sqft
    2018-11-01 80 days 1,983 sqft
    2018-12-01 86 days 1,979 sqft
    2019-01-01 91 days 1,982 sqft
    2019-02-01 95 days 1,982 sqft
    2019-03-01 82 days 1,990 sqft
    2019-04-01 76 days 2,005 sqft
    2019-05-01 77 days 2,019 sqft
    2019-06-01 79 days 2,020 sqft
    2019-07-01 81 days 2,008 sqft
    2019-08-01 80 days 1,994 sqft
    2019-09-01 81 days 1,982 sqft
    2019-10-01 82 days 1,988 sqft
    2019-11-01 87 days 1,985 sqft
    2019-12-01 89 days 1,888 sqft
    2020-01-01 90 days 1,868 sqft
    2020-02-01 92 days 1,874 sqft
    2020-03-01 72 days 1,876 sqft
    2020-04-01 80 days 1,875 sqft
    2020-05-01 80 days 1,885 sqft
    2020-06-01 81 days 1,899 sqft
    2020-07-01 75 days 1,893 sqft
    2020-08-01 75 days 1,899 sqft
    2020-09-01 87 days 1,899 sqft
    2020-10-01 97 days 1,900 sqft
    2020-11-01 99 days 1,900 sqft
    2020-12-01 71 days 1,899 sqft
    2021-01-01 73 days 1,899 sqft
    2021-02-01 65 days 1,895 sqft
    2021-03-01 61 days 1,880 sqft
    2021-04-01 56 days 1,877 sqft
    2021-05-01 54 days 1,887 sqft
    2021-06-01 52 days 1,897 sqft
    2021-07-01 47 days 1,880 sqft
    2021-08-01 51 days 1,895 sqft
    2021-09-01 53 days 1,885 sqft
    2021-10-01 59 days 1,857 sqft
    2021-11-01 65 days 1,850 sqft
    2021-12-01 69 days 1,834 sqft
    2022-01-01 71 days 1,829 sqft
    2022-02-01 62 days 1,825 sqft
    2022-03-01 57 days 1,836 sqft
    2022-04-01 53 days 1,814 sqft
    2022-05-01 53 days 1,837 sqft
    2022-06-01 53 days 1,865 sqft
    2022-07-01 54 days 1,897 sqft
    2022-08-01 60 days 1,882 sqft
    2022-09-01 64 days 1,876 sqft
    2022-10-01 68 days 1,870 sqft
    2022-11-01 76 days 1,874 sqft
    2022-12-01 89 days 1,865 sqft
    2023-01-01 97 days 1,875 sqft
    2023-02-01 98 days 1,851 sqft
    2023-03-01 89 days 1,876 sqft
    2023-04-01 78 days 1,875 sqft
    2023-05-01 72 days 1,878 sqft
    2023-06-01 78 days 1,890 sqft
    2023-07-01 81 days 1,889 sqft
    2023-08-01 78 days 1,881 sqft
    2023-09-01 78 days 1,878 sqft
    2023-10-01 84 days 1,883 sqft
    2023-11-01 89 days 1,866 sqft
    2023-12-01 93 days 1,870 sqft
    2024-01-01 101 days 1,871 sqft
    2024-02-01 95 days 1,880 sqft
    2024-03-01 85 days 1,886 sqft
    2024-04-01 74 days 1,884 sqft
    2024-05-01 76 days 1,888 sqft
    2024-06-01 81 days 1,878 sqft
    2024-07-01 85 days 1,867 sqft
    2024-08-01 82 days 1,858 sqft
    2024-09-01 80 days 1,867 sqft
    2024-10-01 86 days 1,849 sqft
    2024-11-01 90 days 1,841 sqft
    2024-12-01 96 days 1,824 sqft
    2025-01-01 100 days 1,819 sqft
    2025-02-01 97 days 1,823 sqft
    2025-03-01 0 days 1,820 sqft
    Lake Charles's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Lake Charles's median square footage for active listings during the 2025-03-01 period was 1,820 sqft. One year prior, the average listing was 1,886 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).