New Orleans FHA Loan Rates, Closing Costs & Stats

NEW ORLEANS-METAIRIE, 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.

New Orleans's 127 lenders originated 3,022 FHA loans during 2024. The total origination value was $738,540,000, with an average FHA loan value of $244,388.

New Orleans FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in New Orleans averaged 6.22% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

New Orleans's average FHA mortgage closing costs are $8,190.

The average rate for the prior week (2025-03-28) was 6.62% and one month ago for the week of 2025-02-28, the average rate was 6.4%.

The average rate one year ago was 6.92%.

For refis of the same type during the week of 2025-04-04, the average rate was 6.15%.

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

New Orleans 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 New Orleans level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 290 6.33% $11,631
QUICKEN LOANS, LLC 194 6.34% $11,334
GMFS LLC 183 6.45% $7,579
Gulf Coast Bank and Trust Company 167 6.37% $9,080
FIDELITY BANK 133 6.40% $10,539
EUSTIS AND AMERICAN MORTGAGE COMPANY 133 6.34% $11,461
FREEDOM MORTGAGE CORPORATION 126 6.38% $11,388
DHI MORTGAGE COMPANY, LTD. 119 4.82% $7,541
MOVEMENT MORTGAGE, LLC 109 6.49% $10,332
CROSSCOUNTRY MORTGAGE, LLC 77 6.63% $10,983
Equity Prime Mortgage LLC 72 6.80% $11,872
DSLD MORTGAGE, LLC 67 6.05% $6,024
PENNYMAC LOAN SERVICES, LLC 57 6.14% $8,825
Hancock Whitney Bank 51 6.08% $9,381
SOUTHWEST FUNDING, LP 51 7.13% $11,571
BROKER SOLUTIONS, INC. 47 6.71% $10,444
America's Mortgage Resource, Inc. 42 6.22% $7,955
Flagstar Bank, FSB 38 6.35% $8,516
LOANDEPOT.COM, LLC 38 6.25% $11,528
T2 FINANCIAL LLC 34 6.44% $10,928
CARDINAL FINANCIAL 30 6.51% $11,893
STANDARD MORTGAGE CORPORATION 30 6.07% $9,072
NEWREZ LLC 29 6.47% $10,125
PRIMELENDING, A PLAINSCAPITAL COMPANY 29 6.71% $10,425
AMERICAN FINANCIAL NETWORK, INC. 29 6.67% $12,616
MID AMERICA MORTGAGE, INC. 25 6.92% $9,197
PLANET HOME LENDING, LLC 24 6.34% $7,428
SUMMIT FUNDING, INC. 20 6.67% $11,460
First Horizon Bank 18 6.29% $11,241
MUTUAL OF OMAHA MORTGAGE, INC. 18 6.62% $12,020
Mortgage Research Center, LLC 16 6.58% $6,017
CMG MORTGAGE, INC. 14 6.55% $11,807
INTERLINC MORTGAGE SERVICES, LLC 13 6.65% $6,808
AmeriHome Mortgage Company, LLC 13 6.30% $9,645
Regions Bank 12 6.39% $9,583
MORTGAGE SOLUTIONS OF COLORADO, LLC 12 6.81% $10,608
HOMESIDE FINANCIAL, LLC 12 6.47% $12,942
Mr. Cooper ( Nationstar Mortgage ) 12 6.52% $13,451
Cornerstone First Mortgage, Inc 11 6.75% $9,857
GUILD MORTGAGE COMPANY 11 6.36% $11,225
Nations Lending Corporation 11 6.34% $7,618
JPMorgan Chase Bank 10 6.39% $5,518
Carrington Mortgage Services, LLC 10 6.48% $12,485
ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 6.31% $10,050
S1L, Inc. 10 6.74% $10,826
KEESLER 9 5.43% $8,427
THE MORTGAGE FIRM, INC. 9 6.54% $9,432
MORTGAGE FINANCIAL SERVICES, LLC 9 6.30% $8,735
Assurance Financial Group, L.L.C. 8 6.70% $11,858
Goldwater Bank, N.A. 8 6.33% $10,004
GUARANTEED RATE, INC. 8 6.38% $12,251
HOMEBRIDGE FINANCIAL SERVICES, INC. 8 6.44% $9,337
Towne Bank 8 6.77% $11,455
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.82% $12,514
UNION HOME MORTGAGE CORP. 7 6.48% $11,863
Paramount Residential Mortgage Group, Inc. 7 6.80% $8,854
V.I.P. MORTGAGE, INC. 6 6.56% $8,936
PRIMARY RESIDENTIAL MORTGAGE, INC. 6 6.46% $11,958
PLAZA HOME MORTGAGE, INC. 5 7.75% $9,221
Century Mortgage Company DBA Century Lending Company 5 6.10% $10,413
Bank of England 5 6.58% $8,330
AMERICAN FINANCIAL RESOURCES, INC. 5 7.33% $10,416
AMERICAN FINANCING CORPORATION 5 6.23% $8,653
LAKEVIEW LOAN SERVICING, LLC 5 6.35% $7,894
ZILLOW HOME LOANS, LLC 5 6.53% $9,932
Red River Bank 4 6.03% $7,426
CANOPY MORTGAGE, LLC 4 6.88% $9,805
FIRST COMMUNITY MORTGAGE, INC. 4 6.96% $14,311
LAND HOME FINANCIAL SERVICES, INC. 4 6.88% $13,731
Residential Acceptance Corporation 4 7.19% $7,661
VILLAGE CAPITAL MORTGAGE 4 6.50% $6,118
TOWNE MORTGAGE COMPANY 3 6.33% $17,510
Plains Commerce Bank 3 6.54% $11,048
AMERITRUST MORTGAGE CORPORATION 3 7.08% $14,382
AMERISAVE MORTGAGE CORPORATION 3 6.25% $12,175
Hometown Equity Mortgage, LLC 3 6.75% $14,736
NETWORK CAPITAL FUNDING CORPORATION 3 6.00% $12,290
OCMBC, INC. 3 6.17% $15,019
SUN WEST MORTGAGE COMPANY, INC. 3 6.33% $12,508
NATIONS RELIABLE LENDING, LLC 3 6.71% $10,105
BankPlus 3 6.42% $11,891
Prosperity Home Mortgage, LLC 2 6.88% $9,360
TruHome Solutions, LLC 2 6.56% $8,066
Lakeview Community Capital, LLC 2 6.44% $7,218
NORWICH COMMERCIAL GROUP, INC. 2 6.00% $10,371
EMM LOANS LLC 2 6.56% $13,325
RELIANCE FIRST CAPITAL, LLC 2 6.88% $10,543
Wells Fargo Bank 2 5.38% $7,725
Renasant Bank 2 6.75% $8,296
HOMESPIRE MORTGAGE CORPORATION 2 6.79% $8,329
PENTAGON FEDERAL CREDIT UNION 2 5.75% $13,743
BM Real Estate Services, Inc. 2 6.75% $15,290
BAY EQUITY LLC 2 6.19% $17,078
GSF Mortgage Corporation 2 6.81% $9,631
The Federal Savings Bank 2 6.31% $16,018
First Option Mortgage, LLC 2 6.63% $8,296
NATIONS DIRECT MORTGAGE, LLC 2 6.00% $13,518
TOP FLITE FINANCIAL, INC. 2 6.31% $11,323
Merchants & Marine Bank 1 6.00% $8,629
MEMBER FIRST MORTGAGE, LLC 1 6.13% $13,318
M&T Bank 1 6.25% $5,428
NATIONWIDE MORTGAGE BANKERS, INC. 1 7.25% $26,474
NBKC BANK 1 6.13% $7,120
Network Funding, L.P. 1 7.25% $8,235
NFM, INC. 1 7.13% $16,852
Northpointe Bank 1 5.00% $21,004
OPEN MORTGAGE, LLC 1 6.50% $13,692
Home Mortgage Alliance Corp 1 6.99% $10,396
Grand Bank for Savings, FSB 1 6.13% $6,317
First Federal Bank 1 5.75% $13,985
FIRST COLONY MORTGAGE CORPORATION 1 6.63% $10,990
RANLIFE, INC. 1 7.00% $7,145
EVERETT FINANCIAL, INC. 1 6.25% $17,027
ROYAL UNITED MORTGAGE LLC 1 6.13% $15,109
Commerce Home Mortgage, Inc. 1 6.88% $9,545
Servion, Inc. 1 5.63% $8,465
ServisFirst Bank 1 5.63% $6,825
BETTER MORTGAGE CORPORATION 1 5.50% $10,740
SWBC MORTGAGE CORPORATION 1 6.13% $5,793
The Loan Store, Inc. 1 6.25% $8,132
Bank of America 1 6.75% $8,092
THE MORTGAGE LINK, INC. 1 7.13% $19,974
BancorpSouth 1 6.25% $11,381
U.S. Bank 1 6.75% $6,765
US MORTGAGE CORPORATION 1 6.75% $15,906
American Mortgage & Equity Consultants, Inc. 1 5.75% $14,979
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.63% $7,708

The top New Orleans FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 290 FHA loans originated. Their average total fees are $11,631, which is $297 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee New Orleans FHA lenders (with over 10 loans originated) are JPMorgan Chase Bank ($5,518), Mortgage Research Center, LLC ($6,017), DSLD MORTGAGE, LLC ($6,024), INTERLINC MORTGAGE SERVICES, LLC ($6,808) and PLANET HOME LENDING, LLC ($7,428).

The lowest rate New Orleans FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.82%), DSLD MORTGAGE, LLC (6.05%), STANDARD MORTGAGE CORPORATION (6.07%), Hancock Whitney Bank (6.08%) and PENNYMAC LOAN SERVICES, LLC (6.14%).

New Orleans FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
NEW ORLEANS-METAIRIE, LA JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA ORLEANS 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA PLAQUEMINES 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA ST. BERNARD 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA ST. CHARLES 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA ST. JAMES 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA ST. JOHN THE BA 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA ST. TAMMANY 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
NEW ORLEANS-METAIRIE, LA ORLEANS 2023 $472,030 $604,400 $730,525 $907,900
NEW ORLEANS-METAIRIE, LA PLAQUEMINES 2023 $472,030 $604,400 $730,525 $907,900
NEW ORLEANS-METAIRIE, LA ST. BERNARD 2023 $472,030 $604,400 $730,525 $907,900
NEW ORLEANS-METAIRIE, LA ST. CHARLES 2023 $472,030 $604,400 $730,525 $907,900
NEW ORLEANS-METAIRIE, LA ST. JAMES 2023 $472,030 $604,400 $730,525 $907,900
NEW ORLEANS-METAIRIE, LA ST. JOHN THE BA 2023 $472,030 $604,400 $730,525 $907,900
NEW ORLEANS-METAIRIE, LA ST. TAMMANY 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - New Orleans (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 $267,025 (8.8%) $377,737 (7.3%) 0.99 3,200
2018-02-01 $262,500 (7.4%) $383,267 (8.5%) 0.95 3,222
2018-03-01 $274,600 (8.8%) $389,794 (8.1%) 0.96 3,348
2018-04-01 $287,000 (10.2%) $400,265 (9.3%) 0.97 3,382
2018-05-01 $289,000 (9.1%) $406,844 (8.1%) 0.97 3,401
2018-06-01 $289,000 (7.4%) $400,945 (4.8%) 0.96 3,454
2018-07-01 $280,000 (5.7%) $399,543 (6.1%) 0.94 3,332
2018-08-01 $285,000 (5.9%) $401,231 (7.4%) 0.95 3,300
2018-09-01 $279,900 (4.4%) $397,519 (7.9%) 0.94 3,253
2018-10-01 $282,499 (5.8%) $397,734 (6.5%) 0.96 3,314
2018-11-01 $282,000 (5.4%) $394,652 (3.6%) 0.96 3,290
2018-12-01 $279,000 (5.3%) $389,903 (2.7%) 0.96 3,208
2019-01-01 $274,500 (2.8%) $382,936 (1.4%) 0.95 3,038
2019-02-01 $279,000 (6.3%) $392,533 (2.4%) 0.94 3,064
2019-03-01 $287,286 (4.6%) $404,955 (3.9%) 0.94 2,951
2019-04-01 $298,000 (3.8%) $418,790 (4.6%) 0.95 2,882
2019-05-01 $299,000 (3.5%) $428,931 (5.4%) 0.93 2,895
2019-06-01 $297,590 (3.0%) $422,991 (5.5%) 0.93 2,929
2019-07-01 $296,625 (5.9%) $421,745 (5.6%) 0.93 2,943
2019-08-01 $291,682 (2.3%) $411,669 (2.6%) 0.92 2,996
2019-09-01 $290,455 (3.8%) $409,625 (3.1%) 0.93 3,044
2019-10-01 $287,250 (1.7%) $407,301 (2.4%) 0.93 3,050
2019-11-01 $285,000 (1.1%) $407,246 (3.2%) 0.93 3,023
2019-12-01 $281,800 (1.0%) $405,142 (3.9%) 0.94 2,866
2020-01-01 $279,900 (2.0%) $404,728 (5.7%) 0.94 2,699
2020-02-01 $289,000 (3.6%) $407,368 (3.8%) 0.95 2,647
2020-03-01 $297,000 (3.4%) $410,483 (1.4%) 0.93 2,696
2020-04-01 $299,000 (0.3%) $412,387 (-1.5%) 0.94 2,683
2020-05-01 $299,900 (0.3%) $427,994 (-0.2%) 0.91 2,559
2020-06-01 $317,000 (6.5%) $437,492 (3.4%) 0.93 2,413
2020-07-01 $324,900 (9.5%) $451,312 (7.0%) 0.94 2,246
2020-08-01 $325,000 (11.4%) $459,360 (11.6%) 0.93 2,147
2020-09-01 $329,950 (13.6%) $467,366 (14.1%) 0.95 2,124
2020-10-01 $335,000 (16.6%) $479,052 (17.6%) 0.96 2,114
2020-11-01 $326,500 (14.6%) $463,340 (13.8%) 0.95 2,123
2020-12-01 $323,875 (14.9%) $456,279 (12.6%) 0.96 2,053
2021-01-01 $309,000 (10.4%) $441,279 (9.0%) 0.92 1,964
2021-02-01 $314,450 (8.8%) $453,226 (11.3%) 0.92 1,842
2021-03-01 $323,450 (8.9%) $463,788 (13.0%) 0.92 1,758
2021-04-01 $335,000 (12.0%) $482,363 (17.0%) 0.91 1,639
2021-05-01 $339,000 (13.0%) $486,481 (13.7%) 0.90 1,589
2021-06-01 $339,350 (7.1%) $476,970 (9.0%) 0.89 1,666
2021-07-01 $339,000 (4.3%) $475,507 (5.4%) 0.89 1,777
2021-08-01 $330,000 (1.5%) $465,358 (1.3%) 0.88 1,891
2021-09-01 $337,000 (2.1%) $466,930 (-0.1%) 0.90 1,774
2021-10-01 $335,000 (0.0%) $468,759 (-2.2%) 0.89 1,607
2021-11-01 $340,000 (4.1%) $481,128 (3.8%) 0.91 1,511
2021-12-01 $339,000 (4.7%) $475,484 (4.2%) 0.92 1,394
2022-01-01 $339,000 (9.7%) $477,073 (8.1%) 0.92 1,274
2022-02-01 $340,250 (8.2%) $478,831 (5.7%) 0.88 1,203
2022-03-01 $347,000 (7.3%) $472,854 (2.0%) 0.87 1,264
2022-04-01 $344,450 (2.8%) $469,236 (-2.7%) 0.82 1,409
2022-05-01 $342,500 (1.0%) $474,749 (-2.4%) 0.78 1,629
2022-06-01 $347,000 (2.3%) $473,616 (-0.7%) 0.77 1,884
2022-07-01 $339,000 (0.0%) $460,295 (-3.2%) 0.76 2,239
2022-08-01 $327,450 (-0.8%) $445,691 (-4.2%) 0.76 2,510
2022-09-01 $325,000 (-3.6%) $443,155 (-5.1%) 0.76 2,632
2022-10-01 $325,000 (-3.0%) $444,594 (-5.2%) 0.76 2,824
2022-11-01 $322,500 (-5.2%) $447,613 (-7.0%) 0.78 2,909
2022-12-01 $319,000 (-5.9%) $440,755 (-7.3%) 0.79 2,793
2023-01-01 $318,450 (-6.1%) $443,421 (-7.1%) 0.79 2,669
2023-02-01 $321,950 (-5.4%) $455,123 (-5.0%) 0.78 2,633
2023-03-01 $326,000 (-6.1%) $458,035 (-3.1%) 0.77 2,754
2023-04-01 $334,900 (-2.8%) $473,835 (1.0%) 0.78 2,849
2023-05-01 $339,450 (-0.9%) $482,235 (1.6%) 0.77 3,034
2023-06-01 $339,450 (-2.2%) $474,106 (0.1%) 0.76 3,133
2023-07-01 $331,250 (-2.3%) $464,554 (0.9%) 0.75 3,296
2023-08-01 $334,938 (2.3%) $461,324 (3.5%) 0.77 3,305
2023-09-01 $334,999 (3.1%) $459,897 (3.8%) 0.78 3,410
2023-10-01 $331,950 (2.1%) $462,956 (4.1%) 0.78 3,572
2023-11-01 $325,000 (0.8%) $454,427 (1.5%) 0.77 3,639
2023-12-01 $325,000 (1.9%) $450,611 (2.2%) 0.79 3,506
2024-01-01 $324,531 (1.9%) $448,322 (1.1%) 0.79 3,330
2024-02-01 $324,975 (0.9%) $451,480 (-0.8%) 0.78 3,322
2024-03-01 $325,000 (-0.3%) $460,702 (0.6%) 0.76 3,428
2024-04-01 $330,000 (-1.5%) $464,577 (-2.0%) 0.77 3,597
2024-05-01 $332,450 (-2.1%) $467,679 (-3.0%) 0.76 3,690
2024-06-01 $329,000 (-3.1%) $459,124 (-3.2%) 0.75 3,782
2024-07-01 $324,500 (-2.0%) $448,390 (-3.5%) 0.74 3,983
2024-08-01 $317,000 (-5.4%) $438,757 (-4.9%) 0.74 4,216
2024-09-01 $319,000 (-4.8%) $440,125 (-4.3%) 0.75 3,844
2024-10-01 $323,250 (-2.6%) $443,066 (-4.3%) 0.76 3,918
2024-11-01 $320,500 (-1.4%) $445,140 (-2.0%) 0.77 3,912
2024-12-01 $319,000 (-1.9%) $442,794 (-1.7%) 0.79 3,761
2025-01-01 $317,000 (-2.3%) $437,577 (-2.4%) 0.79 3,644
2025-02-01 $319,900 (-1.6%) $448,483 (-0.7%) 0.78 3,691
2025-03-01 $324,450 (-0.2%) $452,983 (-1.7%) 0.00 3,825
New Orleans's median listing price for 2025-03-01 was $324,450, a difference of $-550 (-0.2%) versus the prior year and $4,550 versus the prior month.

New Orleans's median listing price comes in at 0% of the national average.

New Orleans's average listing price for 2025-03-01 was $452,983, a difference of $-7,719 (-1.7%) versus the prior year and $4,500 versus the prior month.

For the 2025-03-01 period, New Orleans had 3,825 MLS listings, a difference of 134 listings (4%) versus the prior month and 397 listings (12%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - New Orleans (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 82 days 1,706 sqft
2018-02-01 81 days 1,702 sqft
2018-03-01 64 days 1,722 sqft
2018-04-01 59 days 1,747 sqft
2018-05-01 60 days 1,761 sqft
2018-06-01 61 days 1,753 sqft
2018-07-01 67 days 1,749 sqft
2018-08-01 70 days 1,747 sqft
2018-09-01 68 days 1,747 sqft
2018-10-01 67 days 1,743 sqft
2018-11-01 68 days 1,744 sqft
2018-12-01 74 days 1,728 sqft
2019-01-01 83 days 1,721 sqft
2019-02-01 75 days 1,737 sqft
2019-03-01 68 days 1,757 sqft
2019-04-01 61 days 1,780 sqft
2019-05-01 59 days 1,801 sqft
2019-06-01 64 days 1,803 sqft
2019-07-01 67 days 1,804 sqft
2019-08-01 68 days 1,794 sqft
2019-09-01 70 days 1,786 sqft
2019-10-01 68 days 1,779 sqft
2019-11-01 68 days 1,759 sqft
2019-12-01 81 days 1,748 sqft
2020-01-01 88 days 1,733 sqft
2020-02-01 81 days 1,727 sqft
2020-03-01 65 days 1,741 sqft
2020-04-01 72 days 1,753 sqft
2020-05-01 78 days 1,750 sqft
2020-06-01 81 days 1,762 sqft
2020-07-01 65 days 1,761 sqft
2020-08-01 64 days 1,766 sqft
2020-09-01 67 days 1,771 sqft
2020-10-01 65 days 1,775 sqft
2020-11-01 67 days 1,761 sqft
2020-12-01 72 days 1,745 sqft
2021-01-01 77 days 1,710 sqft
2021-02-01 70 days 1,712 sqft
2021-03-01 60 days 1,728 sqft
2021-04-01 60 days 1,704 sqft
2021-05-01 59 days 1,723 sqft
2021-06-01 56 days 1,750 sqft
2021-07-01 52 days 1,745 sqft
2021-08-01 52 days 1,713 sqft
2021-09-01 64 days 1,700 sqft
2021-10-01 77 days 1,696 sqft
2021-11-01 85 days 1,719 sqft
2021-12-01 76 days 1,700 sqft
2022-01-01 73 days 1,720 sqft
2022-02-01 68 days 1,720 sqft
2022-03-01 45 days 1,734 sqft
2022-04-01 37 days 1,726 sqft
2022-05-01 39 days 1,752 sqft
2022-06-01 40 days 1,764 sqft
2022-07-01 43 days 1,762 sqft
2022-08-01 50 days 1,748 sqft
2022-09-01 55 days 1,747 sqft
2022-10-01 58 days 1,750 sqft
2022-11-01 64 days 1,749 sqft
2022-12-01 75 days 1,737 sqft
2023-01-01 80 days 1,733 sqft
2023-02-01 71 days 1,750 sqft
2023-03-01 60 days 1,756 sqft
2023-04-01 57 days 1,776 sqft
2023-05-01 58 days 1,784 sqft
2023-06-01 59 days 1,769 sqft
2023-07-01 64 days 1,763 sqft
2023-08-01 66 days 1,764 sqft
2023-09-01 68 days 1,768 sqft
2023-10-01 68 days 1,768 sqft
2023-11-01 68 days 1,759 sqft
2023-12-01 78 days 1,750 sqft
2024-01-01 85 days 1,736 sqft
2024-02-01 84 days 1,737 sqft
2024-03-01 68 days 1,753 sqft
2024-04-01 61 days 1,769 sqft
2024-05-01 62 days 1,758 sqft
2024-06-01 66 days 1,750 sqft
2024-07-01 68 days 1,739 sqft
2024-08-01 72 days 1,730 sqft
2024-09-01 80 days 1,726 sqft
2024-10-01 81 days 1,733 sqft
2024-11-01 80 days 1,723 sqft
2024-12-01 84 days 1,718 sqft
2025-01-01 90 days 1,704 sqft
2025-02-01 89 days 1,704 sqft
2025-03-01 0 days 1,711 sqft
New Orleans'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.

New Orleans's median square footage for active listings during the 2025-03-01 period was 1,711 sqft. One year prior, the average listing was 1,753 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).