Louisiana FHA Loan Rates, Closing Costs & Stats

Louisiana

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.

Louisiana FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Louisiana averaged 6.37% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

Louisiana's average FHA mortgage closing costs are $7,022.

The average rate for the prior week (2023-05-19) was 5.94% and one month ago for the week of 2023-04-21, the average rate was 6.08%.

The average rate one year ago was 4.8%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.44%.

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

Louisiana 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 Louisiana level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 1,175 5.10% $9,178
GMFS LLC 1,042 4.74% $7,241
QUICKEN LOANS, LLC 880 4.53% $8,867
EUSTIS AND AMERICAN MORTGAGE COMPANY 579 5.14% $9,499
DHI MORTGAGE COMPANY, LTD. 511 4.35% $8,785
DSLD MORTGAGE, LLC 492 4.82% $6,440
CALIBER HOME LOANS, INC. 449 4.56% $8,637
FIDELITY BANK 444 4.83% $8,812
MOVEMENT MORTGAGE, LLC 416 5.05% $9,355
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 398 5.10% $7,752
HOME POINT FINANCIAL CORPORATION 373 4.43% $9,092
Assurance Financial Group, L.L.C. 357 5.10% $9,294
LOANDEPOT.COM, LLC 331 4.95% $9,273
FREEDOM MORTGAGE CORPORATION 292 4.77% $8,560
CARDINAL FINANCIAL 285 4.83% $9,374
PENNYMAC LOAN SERVICES, LLC 221 4.46% $8,191
Gateway First Bank 214 5.08% $6,403
Gulf Coast Bank and Trust Company 190 4.86% $9,217
SOUTHWEST FUNDING, LP 188 5.35% $11,420
Flagstar Bank, FSB 176 4.68% $8,546
PLANET HOME LENDING, LLC 155 5.17% $9,646
SUMMIT FUNDING, INC. 147 5.23% $10,222
CROSSCOUNTRY MORTGAGE, LLC 135 5.25% $10,648
GUILD MORTGAGE COMPANY 121 4.92% $9,642
Red River Bank 118 4.65% $6,538
Mr. Cooper ( Nationstar Mortgage ) 114 4.40% $8,281
PRIMARY RESIDENTIAL MORTGAGE, INC. 109 5.39% $8,098
Carrington Mortgage Services, LLC 102 5.09% $9,802
Nations Lending Corporation 102 5.05% $7,696
UNION HOME MORTGAGE CORP. 100 5.19% $8,844
PLAZA HOME MORTGAGE, INC. 100 5.05% $8,720
MID AMERICA MORTGAGE, INC. 94 5.28% $5,897
Regions Bank 93 4.95% $8,578
AMERICAN FINANCIAL RESOURCES, INC. 92 4.99% $8,007
NEWREZ LLC 92 4.98% $7,957
MORTGAGE FINANCIAL SERVICES, LLC 88 4.66% $8,919
DRAPER AND KRAMER MORTGAGE CORP. 86 5.33% $9,700
Eagle Bank and Trust Company 85 4.86% $7,756
PRIMELENDING, A PLAINSCAPITAL COMPANY 82 4.94% $9,713
Equity Prime Mortgage LLC 80 5.66% $9,059
NTFN, INC. 78 4.60% $9,166
JPMorgan Chase Bank 76 4.74% $5,956
AMERISAVE MORTGAGE CORPORATION 74 4.64% $9,723
AMCAP MORTGAGE, LTD. 74 5.15% $10,148
STANDARD MORTGAGE CORPORATION 72 4.61% $7,867
LHM FINANCIAL CORPORATION 71 4.65% $8,932
GUARANTEED RATE, INC. 70 5.15% $9,226
Hancock Whitney Bank 61 4.76% $8,134
CMG MORTGAGE, INC. 61 4.36% $9,382
HOMEBRIDGE FINANCIAL SERVICES, INC. 60 4.37% $10,204
LAKEVIEW LOAN SERVICING, LLC 58 3.81% $5,611
Citizens Bank 51 4.48% $7,606
BROKER SOLUTIONS, INC. 51 5.24% $10,824
NATIONS DIRECT MORTGAGE, LLC 48 4.78% $10,115
Origin Bank 46 5.06% $7,917
Republic State Mortgage Co. 46 5.02% $9,889
First Horizon Bank 44 5.08% $8,405
BancorpSouth Bank 44 4.51% $6,921
T2 FINANCIAL LLC 43 5.02% $11,229
PERFORMANCE MORTGAGE LLC 43 5.25% $10,402
HOMESIDE FINANCIAL, LLC 43 5.56% $9,452
MORTGAGE SOLUTIONS OF COLORADO, LLC 42 5.05% $10,872
NATIONS RELIABLE LENDING, LLC 41 4.93% $8,929
Lakeview Community Capital, LLC 37 3.81% $5,546
Hometown Equity Mortgage, LLC 37 4.94% $10,030
First Option Mortgage, LLC 36 5.00% $9,933
THRIVE MORTGAGE, LLC 36 5.01% $8,832
Paramount Residential Mortgage Group, Inc. 35 5.61% $9,890
Goldwater Bank, N.A. 33 4.67% $7,786
Cross Keys Bank 33 4.71% $7,629
OCMBC, INC. 32 5.26% $14,288
FBT Mortgage, L.L.C. 31 3.80% $8,227
GENEVA FINANCIAL, LLC 30 4.78% $10,839
Mortgage Research Center, LLC 30 5.55% $5,311
RELIANCE FIRST CAPITAL, LLC 30 5.13% $8,235
THE MORTGAGE FIRM, INC. 29 5.54% $9,747
Sabine State Bank and Trust Company 29 5.22% $9,061
ANGEL OAK HOME LOANS LLC 29 4.93% $9,138
VILLAGE CAPITAL MORTGAGE 29 3.42% $3,433
MUTUAL OF OMAHA MORTGAGE, INC. 28 5.43% $10,982
Bank of England 28 4.87% $9,331
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 27 5.06% $10,239
Wolfe Financial, Inc 25 5.19% $9,605
GSF Mortgage Corporation 24 4.71% $10,951
Home Federal Bank 23 5.34% $7,394
Austin Capital Bank SSB 23 5.08% $10,246
INTERLINC MORTGAGE SERVICES, LLC 22 5.17% $8,969
EVERETT FINANCIAL, INC. 21 5.14% $6,333
LEGEND LENDING CORPORATION 21 6.15% $7,330
BECKAM FUNDING CORP. 20 4.95% $10,231
BARKSDALE 19 4.63% $6,844
America's Mortgage Resource, Inc. 19 4.39% $7,384
BAYSHORE MORTGAGE FUNDING, LLC 17 5.78% $8,461
HOMESPIRE MORTGAGE CORPORATION 16 5.15% $10,623
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 16 5.52% $10,363
SUN WEST MORTGAGE COMPANY, INC. 16 4.59% $8,378
AMERICAN PACIFIC MORTGAGE CORPORATION 15 6.22% $8,868
AMERICAN FINANCING CORPORATION 15 4.11% $9,481
EMM LOANS LLC 14 4.68% $11,960
TOWNE MORTGAGE COMPANY 14 5.18% $8,484
FirstTrust Home Loans, Inc. 14 4.79% $8,383
ACADEMY MORTGAGE CORPORATION 13 4.74% $7,639
US MORTGAGE CORPORATION 13 5.22% $9,502
DAS Acquisition Company, LLC 13 5.30% $9,648
PHH Mortgage Corporation 12 5.38% $10,389
Victorian Finance, LLC 12 5.76% $9,398
CRESCENT MORTGAGE COMPANY 11 5.11% $8,694
AmeriHome Mortgage Company, LLC 11 5.22% $10,998
Wells Fargo Bank 11 4.86% $7,841
Barrington Bank & Trust Company, N.A. 11 5.00% $8,356
OPEN MORTGAGE, LLC 11 4.89% $10,611
AmRes Corporation 10 4.47% $10,457
NFM, INC. 10 5.43% $10,085
SECURITYNATIONAL MORTGAGE COMPANY 10 5.55% $12,041
ZILLOW HOME LOANS, LLC 9 5.57% $9,761
First Guaranty Mortgage Corporation 9 3.94% $6,549
LEADERONE FINANCIAL CORPORATION 9 4.74% $8,838
MORIA DEVELOPMENT, INC. 9 4.72% $9,364
M&T Bank 9 4.03% $7,608
Network Funding, L.P. 9 5.46% $9,830
Chickasaw Community Bank 9 5.64% $8,770
ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 4.72% $7,199
PIERREMONT MORTGAGE, INC. 8 3.95% $3,816
TJC Mortgage, Inc. 8 4.14% $8,579
Trustmark National Bank 8 4.33% $7,273
EMBRACE HOME LOANS, INC. 7 5.30% $9,719
NP, Inc. 7 5.45% $8,511
Shamrock Home Loans, Inc. 7 4.66% $7,329
KEESLER 7 4.96% $9,057
HOMESTAR FINANCIAL CORPORATION 6 6.48% $6,771
The Federal Savings Bank 6 4.63% $14,712
S1L, Inc. 6 5.85% $8,948
Plains Commerce Bank 6 6.08% $9,944
RESIDENTIAL BANCORP. 6 5.50% $9,253
SWBC MORTGAGE CORPORATION 6 5.73% $5,374
Cornerstone First Mortgage, Inc 4 5.59% $10,733
Merchants Bank of Indiana 4 4.91% $9,552
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 4 5.72% $12,937
Northpointe Bank 4 4.63% $11,507
KELLER MORTGAGE, LLC 4 4.22% $9,288
First Home Bank 4 4.03% $8,982
CHURCHILL MORTGAGE CORPORATION 4 5.00% $10,296
Wyndham Capital Mortgage, Inc. 4 5.28% $7,063
FIRST COMMUNITY MORTGAGE, INC. 3 5.33% $8,908
Renasant Bank 3 3.92% $8,185
PANORAMA MORTGAGE GROUP, LLC 3 7.17% $14,364
SOUTHPOINT FINANCIAL SERVICES, INC. 3 6.38% $5,743
PREMIA MORTGAGE, LLC 3 5.50% $6,529
MYCUMORTGAGE, LLC 3 3.79% $7,609
Evolve Bank & Trust 3 6.04% $13,450
VANDERBILT MORTGAGE AND FINANCE, INC. 3 4.38% $11,723
TIB The Independent Bankersbank 3 5.33% $8,120
ROYAL UNITED MORTGAGE LLC 3 5.33% $7,965
CERTAINTY HOME LOANS, LLC 3 6.00% $10,916
North American Savings Bank, F.S.B. 3 5.25% $6,673
Century Next Bank 3 4.29% $8,663
Colonial Savings, F.A. 2 3.56% $6,861
MEMBER FIRST MORTGAGE, LLC 2 5.63% $10,765
Magnolia Bank 2 5.31% $8,770
CORNERSTONE HOME LENDING, INC. 2 5.56% $7,590
NATIONWIDE MORTGAGE BANKERS, INC. 2 4.00% $15,222
NETWORK CAPITAL FUNDING CORPORATION 2 4.19% $10,778
Loan Simple, Inc. 2 4.25% $15,224
PACIFIC RESIDENTIAL MORTGAGE, LLC 2 5.44% $10,453
Paramount Bank 2 4.81% $6,653
Peoples Bank 2 5.88% $12,026
FBC MORTGAGE, LLC 2 5.25% $7,517
BAY EQUITY LLC 2 4.94% $12,881
LAND HOME FINANCIAL SERVICES, INC. 2 6.88% $8,474
BankPlus 2 5.69% $2,432
Bank of America 2 3.38% $7,333
SENTE MORTGAGE, INC. 2 4.50% $12,437
SOUTHWEST STAGE FUNDING, LLC 2 5.88% $6,067
STOCKTON MORTGAGE CORPORATION 2 5.00% $9,001
UNITED SECURITY FINANCIAL CORP 2 6.25% $11,204
Hometown Lenders, Inc. 2 4.13% $10,435
MIDLAND MORTGAGE CORPORATION 2 5.25% $7,478
CHERRY CREEK MORTGAGE, LLC 1 4.25% $875
Arvest Bank 1 5.50% $11,214
ONE NEVADA CREDIT UNION 1 6.25% $11,175
Florida Capital Bank 1 4.63% $11,053
CIS Financial Services, Inc. 1 3.88% $10,301
SIRVA MORTGAGE, INC. 1 5.25% $7,529
OCEANSIDE MORTGAGE COMPANY 1 3.38% $1,902
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 4.88% $12,052
Encompass Lending Group, LP 1 6.50% $11,433
SOVEREIGN LENDING GROUP INCORPORATED 1 4.25% $14,009
OAKTREE FUNDING CORP. 1 5.88% $12,589
MICHIGAN MUTUAL, INC. 1 5.13% $8,973
MORTGAGE ACCESS CORP. 1 4.25% $11,398
Ixonia Bank 1 7.00% $9,519
NEW DAY FINANCIAL, LLC 1 3.49% $7,133
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.63% $13,793
Texana Bank 1 4.50% $12,932
ALLIED MORTGAGE GROUP, INC. 1 5.63% $9,127
The Huntington National Bank 1 2.75% $12,797
First United Bank and Trust Company 1 6.13% $7,898
HOPE FEDERAL CREDIT UNION 1 2.88% $7,914
NBKC BANK 1 4.63% $7,865
Low VA Rates, LLC 1 4.25% $6,534
Towne Bank 1 6.75% $9,129
HOMEWAY MORTGAGE LLC 1 5.63% $7,250
DATA MORTGAGE, INC. 1 4.50% $6,237
Wilmington Savings Fund Society, FSB 1 5.63% $7,764
ENVOY MORTGAGE, LTD 1 6.50% $11,794
American Mortgage Bank, LLC 1 3.25% $8,273
West Town Bank & Trust 1 4.75% $10,603
BELEM SERVICING LLC 1 1.75% $13,185
DELMAR FINANCIAL COMPANY 1 5.50% $4,872
BARTLETT MORTGAGE, INC. 1 4.63% $9,282
VAN DYK MORTGAGE CORPORATION 1 4.63% $11,872
FLAT BRANCH MORTGAGE, INC. 1 7.13% $7,050
PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.75% $5,755
East Coast Capital Corp. 1 5.13% $12,924
BETTER MORTGAGE CORPORATION 1 4.75% $5,323
PENTAGON FEDERAL CREDIT UNION 1 3.13% $8,934
RUOFF MORTGAGE COMPANY, INC. 1 5.63% $4,616

The top Louisiana FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 1,175 FHA loans originated. Their average total fees are $9,178, which is $1,936 higher than the next largest lender, GMFS LLC.

The lowest fee Louisiana FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($3,433), Mortgage Research Center, LLC ($5,311), Lakeview Community Capital, LLC ($5,546), LAKEVIEW LOAN SERVICING, LLC ($5,611) and MID AMERICA MORTGAGE, INC. ($5,897).

The lowest rate Louisiana FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (3.42%), FBT Mortgage, L.L.C. (3.80%), Lakeview Community Capital, LLC (3.81%), LAKEVIEW LOAN SERVICING, LLC (3.81%) and AMERICAN FINANCING CORPORATION (4.11%).

Louisiana FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
LAFAYETTE, LA ACADIA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO ALLEN 2022 $420,680 $538,650 $651,050 $809,150
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
NON-METRO AVOYELLES 2022 $420,680 $538,650 $651,050 $809,150
DERIDDER, LA BEAUREGARD 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO BIENVILLE 2022 $420,680 $538,650 $651,050 $809,150
SHREVEPORT-BOSSIER CITY, LA BOSSIER 2022 $420,680 $538,650 $651,050 $809,150
SHREVEPORT-BOSSIER CITY, LA CADDO 2022 $420,680 $538,650 $651,050 $809,150
LAKE CHARLES, LA CALCASIEU 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CALDWELL 2022 $420,680 $538,650 $651,050 $809,150
LAKE CHARLES, LA CAMERON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CATAHOULA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CLAIBORNE 2022 $420,680 $538,650 $651,050 $809,150
NATCHEZ, MS-LA CONCORDIA 2022 $420,680 $538,650 $651,050 $809,150
SHREVEPORT-BOSSIER CITY, LA DE SOTO 2022 $420,680 $538,650 $651,050 $809,150
BATON ROUGE, LA EAST BATON ROUG 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO EAST CARROLL 2022 $420,680 $538,650 $651,050 $809,150
BATON ROUGE, LA EAST FELICIANA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO EVANGELINE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
ALEXANDRIA, LA GRANT 2022 $420,680 $538,650 $651,050 $809,150
LAFAYETTE, LA IBERIA 2022 $420,680 $538,650 $651,050 $809,150
BATON ROUGE, LA IBERVILLE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO JACKSON 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
JENNINGS, LA JEFFERSON DAVIS 2022 $420,680 $538,650 $651,050 $809,150
LAFAYETTE, LA LAFAYETTE 2022 $420,680 $538,650 $651,050 $809,150
HOUMA-THIBODAUX, LA LAFOURCHE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LASALLE 2022 $420,680 $538,650 $651,050 $809,150
RUSTON, LA LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
BATON ROUGE, LA LIVINGSTON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO MADISON 2022 $420,680 $538,650 $651,050 $809,150
MONROE, LA MOREHOUSE 2022 $420,680 $538,650 $651,050 $809,150
NATCHITOCHES, LA NATCHITOCHES 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA ORLEANS 2022 $420,680 $538,650 $651,050 $809,150
MONROE, LA OUACHITA 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA PLAQUEMINES 2022 $420,680 $538,650 $651,050 $809,150
BATON ROUGE, LA POINTE COUPEE 2022 $420,680 $538,650 $651,050 $809,150
ALEXANDRIA, LA RAPIDES 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO RED RIVER 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO RICHLAND 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO SABINE 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
BATON ROUGE, LA ST. HELENA 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
OPELOUSAS, LA ST. LANDRY 2022 $420,680 $538,650 $651,050 $809,150
LAFAYETTE, LA ST. MARTIN 2022 $420,680 $538,650 $651,050 $809,150
MORGAN CITY, LA ST. MARY 2022 $420,680 $538,650 $651,050 $809,150
NEW ORLEANS-METAIRIE, LA ST. TAMMANY 2022 $420,680 $538,650 $651,050 $809,150
HAMMOND, LA TANGIPAHOA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO TENSAS 2022 $420,680 $538,650 $651,050 $809,150
HOUMA-THIBODAUX, LA TERREBONNE 2022 $420,680 $538,650 $651,050 $809,150
MONROE, LA UNION 2022 $420,680 $538,650 $651,050 $809,150
LAFAYETTE, LA VERMILION 2022 $420,680 $538,650 $651,050 $809,150
FORT POLK SOUTH, LA VERNON 2022 $420,680 $538,650 $651,050 $809,150
BOGALUSA, LA WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
MINDEN, LA WEBSTER 2022 $420,680 $538,650 $651,050 $809,150
BATON ROUGE, LA WEST BATON ROUG 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WEST CARROLL 2022 $420,680 $538,650 $651,050 $809,150
BATON ROUGE, LA WEST FELICIANA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WINN 2022 $420,680 $538,650 $651,050 $809,150
LAFAYETTE, LA ACADIA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO ALLEN 2023 $472,030 $604,400 $730,525 $907,900
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
NON-METRO AVOYELLES 2023 $472,030 $604,400 $730,525 $907,900
DERIDDER, LA BEAUREGARD 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO BIENVILLE 2023 $472,030 $604,400 $730,525 $907,900
SHREVEPORT-BOSSIER CITY, LA BOSSIER 2023 $472,030 $604,400 $730,525 $907,900
SHREVEPORT-BOSSIER CITY, LA CADDO 2023 $472,030 $604,400 $730,525 $907,900
LAKE CHARLES, LA CALCASIEU 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CALDWELL 2023 $472,030 $604,400 $730,525 $907,900
LAKE CHARLES, LA CAMERON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CATAHOULA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CLAIBORNE 2023 $472,030 $604,400 $730,525 $907,900
NATCHEZ, MS-LA CONCORDIA 2023 $472,030 $604,400 $730,525 $907,900
SHREVEPORT-BOSSIER CITY, LA DE SOTO 2023 $472,030 $604,400 $730,525 $907,900
BATON ROUGE, LA EAST BATON ROUG 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO EAST CARROLL 2023 $472,030 $604,400 $730,525 $907,900
BATON ROUGE, LA EAST FELICIANA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO EVANGELINE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO FRANKLIN 2023 $472,030 $604,400 $730,525 $907,900
ALEXANDRIA, LA GRANT 2023 $472,030 $604,400 $730,525 $907,900
LAFAYETTE, LA IBERIA 2023 $472,030 $604,400 $730,525 $907,900
BATON ROUGE, LA IBERVILLE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO JACKSON 2023 $472,030 $604,400 $730,525 $907,900
NEW ORLEANS-METAIRIE, LA JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
JENNINGS, LA JEFFERSON DAVIS 2023 $472,030 $604,400 $730,525 $907,900
LAFAYETTE, LA LAFAYETTE 2023 $472,030 $604,400 $730,525 $907,900
HOUMA-THIBODAUX, LA LAFOURCHE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LASALLE 2023 $472,030 $604,400 $730,525 $907,900
RUSTON, LA LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
BATON ROUGE, LA LIVINGSTON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO MADISON 2023 $472,030 $604,400 $730,525 $907,900
MONROE, LA MOREHOUSE 2023 $472,030 $604,400 $730,525 $907,900
NATCHITOCHES, LA NATCHITOCHES 2023 $472,030 $604,400 $730,525 $907,900
NEW ORLEANS-METAIRIE, LA ORLEANS 2023 $472,030 $604,400 $730,525 $907,900
MONROE, LA OUACHITA 2023 $472,030 $604,400 $730,525 $907,900
NEW ORLEANS-METAIRIE, LA PLAQUEMINES 2023 $472,030 $604,400 $730,525 $907,900
BATON ROUGE, LA POINTE COUPEE 2023 $472,030 $604,400 $730,525 $907,900
ALEXANDRIA, LA RAPIDES 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO RED RIVER 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO RICHLAND 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO SABINE 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
BATON ROUGE, LA ST. HELENA 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
OPELOUSAS, LA ST. LANDRY 2023 $472,030 $604,400 $730,525 $907,900
LAFAYETTE, LA ST. MARTIN 2023 $472,030 $604,400 $730,525 $907,900
MORGAN CITY, LA ST. MARY 2023 $472,030 $604,400 $730,525 $907,900
NEW ORLEANS-METAIRIE, LA ST. TAMMANY 2023 $472,030 $604,400 $730,525 $907,900
HAMMOND, LA TANGIPAHOA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO TENSAS 2023 $472,030 $604,400 $730,525 $907,900
HOUMA-THIBODAUX, LA TERREBONNE 2023 $472,030 $604,400 $730,525 $907,900
MONROE, LA UNION 2023 $472,030 $604,400 $730,525 $907,900
LAFAYETTE, LA VERMILION 2023 $472,030 $604,400 $730,525 $907,900
FORT POLK SOUTH, LA VERNON 2023 $472,030 $604,400 $730,525 $907,900
BOGALUSA, LA WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
MINDEN, LA WEBSTER 2023 $472,030 $604,400 $730,525 $907,900
BATON ROUGE, LA WEST BATON ROUG 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WEST CARROLL 2023 $472,030 $604,400 $730,525 $907,900
BATON ROUGE, LA WEST FELICIANA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WINN 2023 $472,030 $604,400 $730,525 $907,900

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).