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 -0.26% for the week of 2024-11-29, compared to the national average (all FHA variants) of 0% for the same period.

Louisiana's average FHA mortgage closing costs are $7,328.

The average rate for the prior week (2024-11-22) was 6.53% and one month ago for the week of 2024-10-25, the average rate was 6.31%.

The average rate one year ago was 6.9%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.03%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 1,262 6.43% $10,828
QUICKEN LOANS, LLC 824 6.26% $9,885
GMFS LLC 792 6.55% $7,429
DHI MORTGAGE COMPANY, LTD. 501 5.32% $7,863
EUSTIS AND AMERICAN MORTGAGE COMPANY 489 6.69% $10,018
DSLD MORTGAGE, LLC 485 6.30% $5,537
FIDELITY BANK 432 6.51% $9,317
MOVEMENT MORTGAGE, LLC 323 6.70% $10,074
Assurance Financial Group, L.L.C. 301 6.77% $10,545
NEWREZ LLC 256 6.56% $9,744
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 219 6.86% $8,155
CARDINAL FINANCIAL 218 6.61% $10,493
Gulf Coast Bank and Trust Company 206 6.50% $9,105
FREEDOM MORTGAGE CORPORATION 181 6.93% $11,168
CROSSCOUNTRY MORTGAGE, LLC 178 6.91% $10,744
PENNYMAC LOAN SERVICES, LLC 168 6.26% $10,621
LOANDEPOT.COM, LLC 156 6.43% $10,157
Equity Prime Mortgage LLC 132 6.90% $9,414
Red River Bank 117 6.14% $6,903
ARK-LA-TEX FINANCIAL SERVICES, LLC. 116 6.77% $7,461
BROKER SOLUTIONS, INC. 105 6.74% $11,232
Eagle Bank and Trust Company 98 6.52% $8,584
Regions Bank 88 6.17% $9,446
MID AMERICA MORTGAGE, INC. 88 6.96% $7,576
UNION HOME MORTGAGE CORP. 88 6.67% $9,330
AMERICAN FINANCIAL NETWORK, INC. 83 7.04% $10,267
Hancock Whitney Bank 83 6.23% $9,111
PLANET HOME LENDING, LLC 82 6.72% $9,408
Origin Bank 82 6.56% $8,021
PRIMARY RESIDENTIAL MORTGAGE, INC. 76 7.00% $9,675
STANDARD MORTGAGE CORPORATION 75 6.14% $8,573
Paramount Residential Mortgage Group, Inc. 74 7.07% $11,548
SUN WEST MORTGAGE COMPANY, INC. 71 6.48% $9,272
HOMESIDE FINANCIAL, LLC 71 6.89% $9,216
DRAPER AND KRAMER MORTGAGE CORP. 70 6.92% $9,543
Mr. Cooper ( Nationstar Mortgage ) 66 6.19% $12,157
Carrington Mortgage Services, LLC 65 6.38% $11,464
Gateway First Bank 60 6.65% $7,067
Nations Lending Corporation 60 6.85% $7,132
MUTUAL OF OMAHA MORTGAGE, INC. 59 6.65% $11,303
Plains Commerce Bank 57 6.54% $10,689
JPMorgan Chase Bank 57 6.50% $5,720
PRIMELENDING, A PLAINSCAPITAL COMPANY 56 6.82% $12,195
NTFN, INC. 55 6.63% $9,209
GUARANTEED RATE, INC. 55 6.52% $10,650
T2 FINANCIAL LLC 54 6.45% $11,469
PLAZA HOME MORTGAGE, INC. 54 6.41% $10,150
AMERISAVE MORTGAGE CORPORATION 49 6.10% $12,102
SUMMIT FUNDING, INC. 48 6.72% $9,687
MORTGAGE SOLUTIONS OF COLORADO, LLC 47 7.04% $10,321
GUILD MORTGAGE COMPANY 44 6.84% $10,030
AMERICAN FINANCIAL RESOURCES, INC. 40 6.80% $10,004
Flagstar Bank, FSB 39 6.60% $9,731
MORTGAGE FINANCIAL SERVICES, LLC 38 6.48% $8,498
AMERICAN PACIFIC MORTGAGE CORPORATION 34 6.86% $9,199
America's Mortgage Resource, Inc. 34 6.34% $5,939
First Horizon Bank 33 6.31% $10,703
BancorpSouth 32 6.33% $7,574
STOCKTON MORTGAGE CORPORATION 31 6.93% $11,287
Sabine State Bank and Trust Company 30 6.74% $9,368
Mortgage Research Center, LLC 27 7.05% $6,335
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 26 6.76% $10,648
RELIANCE FIRST CAPITAL, LLC 25 6.56% $10,100
HOMEBRIDGE FINANCIAL SERVICES, INC. 25 6.58% $11,904
OCMBC, INC. 24 7.20% $14,038
CMG MORTGAGE, INC. 24 7.13% $11,975
THE MORTGAGE FIRM, INC. 23 6.70% $10,165
Citizens Bank 23 6.63% $8,631
Republic State Mortgage Co. 21 6.82% $10,014
AMCAP MORTGAGE, LTD. 21 6.80% $11,228
FIRST COMMUNITY MORTGAGE, INC. 21 6.83% $10,433
PANORAMA MORTGAGE GROUP, LLC 20 6.89% $10,159
INTERLINC MORTGAGE SERVICES, LLC 20 6.99% $9,672
V.I.P. MORTGAGE, INC. 18 6.72% $11,449
HOMESTAR FINANCIAL CORPORATION 16 7.02% $6,533
Home Federal Bank 16 6.59% $7,394
Chickasaw Community Bank 16 7.03% $9,359
SOUTHPOINT FINANCIAL SERVICES, INC. 15 6.73% $7,591
Bank of England 15 6.27% $9,622
Prosperity Home Mortgage, LLC 15 6.40% $11,938
LAKEVIEW LOAN SERVICING, LLC 14 6.18% $10,087
Cornerstone First Mortgage, Inc 14 6.82% $11,762
ZILLOW HOME LOANS, LLC 14 6.54% $9,730
GENEVA FINANCIAL, LLC 13 6.73% $12,283
Goldwater Bank, N.A. 13 6.63% $9,918
Wolfe Financial, Inc 13 6.66% $12,691
First Option Mortgage, LLC 13 6.88% $11,140
KEESLER 13 5.33% $7,582
EVERETT FINANCIAL, INC. 13 6.90% $8,921
Towne Bank 12 6.65% $9,304
INSPIRE HOME LOANS INC. 12 5.48% $8,011
SECURITYNATIONAL MORTGAGE COMPANY 12 6.35% $12,223
NATIONS DIRECT MORTGAGE, LLC 11 6.26% $12,472
Century Mortgage Company DBA Century Lending Company 11 6.46% $9,033
VILLAGE CAPITAL MORTGAGE 10 6.55% $8,492
FirstTrust Home Loans, Inc. 10 6.54% $9,151
The Federal Savings Bank 10 6.66% $13,542
Lakeview Community Capital, LLC 9 6.19% $9,566
BECKAM FUNDING CORP. 9 6.75% $12,955
LEGEND LENDING CORPORATION 9 6.79% $12,478
US MORTGAGE CORPORATION 9 7.00% $9,744
Hometown Equity Mortgage, LLC 9 6.54% $11,640
DAS Acquisition Company, LLC 8 7.23% $10,220
AMERICAN PORTFOLIO MORTGAGE CORPORATION 8 6.44% $8,846
BARKSDALE 8 6.69% $6,993
Barrington Bank & Trust Company, N.A. 8 6.44% $9,934
BAY EQUITY LLC 8 5.80% $11,035
M&T Bank 8 6.56% $8,641
NATIONS RELIABLE LENDING, LLC 8 7.05% $9,634
Network Funding, L.P. 8 6.78% $8,641
Merchants Bank of Indiana 7 6.80% $5,698
TOP FLITE FINANCIAL, INC. 7 7.14% $14,841
AMERICAN FINANCING CORPORATION 7 6.32% $7,888
EMM LOANS LLC 7 6.18% $15,370
TIB The Independent Bankersbank 7 6.88% $10,432
Wells Fargo Bank 7 6.70% $6,274
AmeriHome Mortgage Company, LLC 7 6.54% $10,689
PIERREMONT MORTGAGE, INC. 6 6.40% $4,304
ROYAL UNITED MORTGAGE LLC 6 6.73% $10,590
NFM, INC. 6 7.17% $10,497
BETTER MORTGAGE CORPORATION 6 6.25% $9,417
LAND HOME FINANCIAL SERVICES, INC. 6 6.96% $11,275
Summit Mortgage Corporation 6 7.23% $9,837
PHH Mortgage Corporation 5 7.20% $9,857
PENTAGON FEDERAL CREDIT UNION 5 5.48% $9,457
NP, Inc. 5 6.55% $6,412
AmRes Corporation 5 6.50% $8,487
Magnolia Bank 5 6.25% $10,101
HOMESPIRE MORTGAGE CORPORATION 5 5.95% $7,534
Century Next Bank 5 6.05% $9,756
ACADEMY MORTGAGE CORPORATION 5 6.68% $9,355
PREMIA MORTGAGE, LLC 5 6.45% $9,688
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 6.78% $11,536
LIBERTY HOME MORTGAGE CORPORATION 4 6.63% $14,096
NBKC BANK 4 6.41% $9,310
CRESCENT MORTGAGE COMPANY 4 6.56% $10,288
Renasant Bank 4 7.13% $8,148
CITYWIDE HOME LOANS, LLC 4 7.25% $10,759
BAYSHORE MORTGAGE FUNDING, LLC 4 7.28% $10,780
BankPlus 4 6.25% $7,614
TOWNE MORTGAGE COMPANY 4 6.81% $8,467
U.S. Bank 4 7.19% $6,181
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 4 5.69% $11,867
MIDLAND MORTGAGE CORPORATION 3 6.75% $8,154
UNITED SECURITY FINANCIAL CORP 3 7.46% $12,317
CHURCHILL MORTGAGE CORPORATION 3 6.38% $12,987
SOUTHWEST STAGE FUNDING, LLC 3 6.67% $4,975
CALIBER HOME LOANS, INC. 3 5.63% $11,211
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 7.04% $7,326
Northpointe Bank 3 6.33% $11,703
SUCCESS MORTGAGE PARTNERS, INC. 3 6.42% $15,207
BM Real Estate Services, Inc. 3 6.83% $9,389
LEADERONE FINANCIAL CORPORATION 3 6.46% $10,182
Colonial Savings, F.A. 3 6.25% $12,245
NETWORK CAPITAL FUNDING CORPORATION 3 5.54% $14,767
OPEN MORTGAGE, LLC 2 6.38% $6,248
SWBC MORTGAGE CORPORATION 2 7.38% $5,763
VANDERBILT MORTGAGE AND FINANCE, INC. 2 6.25% $10,032
Victorian Finance, LLC 2 6.38% $8,447
ALLIED MORTGAGE GROUP, INC. 2 6.56% $4,679
FIRST COLONY MORTGAGE CORPORATION 2 5.81% $11,382
GSF Mortgage Corporation 2 6.63% $11,768
THRIVE MORTGAGE, LLC 2 6.19% $12,166
FirstBank 2 6.13% $8,612
FBC MORTGAGE, LLC 2 6.69% $8,561
MEMBER FIRST MORTGAGE, LLC 2 5.81% $6,204
Evolve Bank & Trust 2 6.75% $8,534
Trustmark National Bank 2 6.75% $7,158
PNC Bank 2 6.50% $9,772
TJC Mortgage, Inc. 1 7.25% $7,098
Bank of America 1 3.88% $0
Merchants & Marine Bank 1 6.63% $9,704
Truist 1 3.75% $2,798
Loan Simple, Inc. 1 6.25% $13,402
MEMBER ADVANTAGE MORTGAGE, LLC 1 6.25% $10,477
NORWICH COMMERCIAL GROUP, INC. 1 7.13% $12,692
OAKTREE FUNDING CORP. 1 5.38% $23,482
First United Bank and Trust Company 1 7.13% $16,851
ON Q FINANCIAL, INC. 1 7.00% $11,906
First Savings Bank 1 7.25% $6,430
First Federal Bank 1 6.00% $13,418
First Financial Bank 1 6.25% $7,809
NEXERA HOLDING LLC 1 6.25% $8,689
NEW DAY FINANCIAL, LLC 1 7.50% $4,169
PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.25% $10,762
1ST SIGNATURE LENDING, LLC 1 7.13% $11,980
Princeton Mortgage Corporation 1 5.99% $9,582
Prosperity Bank 1 5.38% $7,638
CORNERSTONE HOME LENDING, INC. 1 7.25% $17,406
Community Bank of Mississippi 1 6.25% $5,512
Commerce Home Mortgage, Inc. 1 6.88% $12,436
RESIDENTIAL BANCORP 1 7.13% $11,603
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $10,625
S1L, Inc. 1 5.75% $10,525
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.63% $10,005
SENTE MORTGAGE, INC. 1 6.25% $16,928
Shamrock Home Loans, Inc. 1 7.75% $9,192
SIRVA MORTGAGE, INC. 1 7.50% $11,432
AHL FUNDING 1 7.49% $12,921
CALCON MUTUAL MORTGAGE LLC 1 7.25% $19,281
GUARANTEED RATE AFFINITY, LLC 1 6.25% $6,046
Ixonia Bank 1 7.13% $10,861
MICHIGAN MUTUAL, INC. 1 7.13% $8,973
The Huntington National Bank 1 6.00% $11,265
The Loan Store, Inc. 1 7.13% $14,034
BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 7.00% $13,509
KELLER MORTGAGE, LLC 1 5.63% $10,225

The top Louisiana FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 1,262 FHA loans originated. Their average total fees are $10,828, which is $943 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Louisiana FHA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($5,537), JPMorgan Chase Bank ($5,720), America's Mortgage Resource, Inc. ($5,939), Mortgage Research Center, LLC ($6,335) and HOMESTAR FINANCIAL CORPORATION ($6,533).

The lowest rate Louisiana FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.32%), KEESLER (5.33%), INSPIRE HOME LOANS INC. (5.48%), AMERISAVE MORTGAGE CORPORATION (6.10%) and STANDARD MORTGAGE CORPORATION (6.14%).

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).