Louisiana FHA Loan Rates, Closing Costs & Stats

Louisiana

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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.

    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).