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Mortgage Calculator /With Taxes and PMI /Louisiana

Louisiana Mortgage Calculator

Set to Louisiana’s own property tax rate of 0.53% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($44,600)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$1,301
Monthly payment
$1,137
Principal & interest
$99
Taxes
$65
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $178,400 Interest paid $230,924
20262056
Total of 360 payments$468,214
Principal$178,400
Interest$230,924
Taxes$35,460
Insurance$23,430
HOA fees$0
P&I 87.4% Taxes 7.6% Insurance 5.0%
15- vs 30-year term at 6.58%
15-year
$1,562/mo P&I
$102,744 total interest
30-year · current
$1,137/mo P&I
$230,924 total interest
The 15-year term saves $128,180 in interest. Which term is right for you?

What these numbers come from

Median home value
$223,200
Median tax bill
$1,187
Effective tax rate
0.53%
Rank of 51
39th highest

Louisiana taxes property at about 0.53% of value against 0.89% nationally. On a $223,000 home that is $67 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Louisiana home prices

20% down, 30-year fixed at 6.58%, with Louisiana property tax of 0.53% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$134,000 $107,200 $683 $59 $781
$179,000 $143,200 $913 $79 $1,044
$223,000 median $178,400 $1,137 $98 $1,301
$279,000 $223,200 $1,423 $123 $1,627
$335,000 $268,000 $1,708 $148 $1,954

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Louisiana taxes alone add $99 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $159 $978 $164 $178,241
Sep $160 $977 $164 $178,082
Oct $161 $976 $164 $177,921
Nov $161 $976 $164 $177,760
Dec $162 $975 $164 $177,597
2026 $803 $4,882 $818 $177,597
Jan $163 $974 $164 $177,434
Feb $164 $973 $164 $177,270
Mar $165 $972 $164 $177,105
Apr $166 $971 $164 $176,939
May $167 $970 $164 $176,772
Jun $168 $969 $164 $176,605

Refinancing in Louisiana

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Louisiana home loans in detail

Louisiana Mortgage Overview

There are many great reasons to live in Louisiana. Whether you love the food, music, or community, Louisiana has a lower than average cost of living and home prices. The average home price is around $260,000. If you're ready to join the 4.6 million people living in Louisiana, here are your top mortgage options:

Louisiana FHA loans

If you have less than perfect credit, the FHA loan is a great choice. You need just a 580 credit score and 3.5 percent down. It's a great way to get into a home and stop renting. Even if you have a 500 - 579 credit score, you can qualify with a 10 percent down payment. Make sure your debts are manageable and you have stable employment for the best chances.

Louisiana VA loans

Veterans deserve help buying a home and the VA provides it with 100 percent financing. All you need is a 620 credit score and proof you have enough disposable income to cover the daily cost of living for your family. The VA loan doesn't require mortgage insurance and has the most flexible guidelines for our veterans.

Louisiana USDA loans

Living in a 'rural' area doesn't mean cornfields and isolation. The USDA has loans available in low populated areas of LA right outside the city lines. Low to moderate-income families are eligible for this 100 percent financing program. You need just a 640 credit score, stable income and employment, and average debts to qualify.

Louisiana conventional loans

If you have great credit (660+), stable employment, and a 40 percent or lower debt ratio, a conventional loan is a great option. You can put just 3 percent down but will pay PMI until you owe less than 80 percent of the home's value.

First-Time Homebuyer Programs in Louisiana

MRB Program

If you make less than 80 percent of the area's median income, the MRB Program may help. You need a 640 credit score and must be a first-time homebuyer to get the down payment/closing cost assistance (5 to 9 percent) and low interest rate program.

MRB Home and Assisted Program

If you don't have enough money to meet the down payment or closing costs the MRB Home and Assisted Program may help. You must have 'low' income for the area and a minimum 640 credit score. You can receive up to 4 percent of the sales price for down payment and closing costs as a soft second mortgage.

Resilient Soft Second

If you make less than 80 percent of the area's median income, the RSS offers a soft second loan. You can borrow up to $55,000 and $5,000 for closing costs. The loan isn't payable until you refinance or sell the home. Only certain parishes are included.

MCC Tax Certificate

Low-income Louisiana families may qualify for the MCC certificate which provides a tax credit for up to 40 percent of the interest paid for the year, up to $2,000.

Louisiana mortgage FAQ

How much is property tax on a home in Louisiana?
Louisiana homeowners pay an effective property tax rate of about 0.53 percent of home value — the 39th highest of the 50 states and DC. On the state's median home value of $223,200 that works out to roughly $1,182 a year, or $99 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Louisiana home?
At $223,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $1,137 a month. Adding Louisiana property tax of roughly $99 a month and an estimated $65 of homeowner insurance brings the full payment to around $1,301.
What mortgage options are available in Louisiana?
Louisiana buyers can choose FHA loans with a 580 credit score and 3.5 percent down (or a 500 - 579 score with 10 percent down), VA loans offering veterans 100 percent financing with a 620 score and no mortgage insurance, USDA loans with zero down and a 640 score in less populated areas, or conventional loans with just 3 percent down for buyers with 660+ credit.
What first-time homebuyer programs does Louisiana offer?
Louisiana offers the MRB Program with 5 to 9 percent down payment and closing cost assistance for buyers earning under 80 percent of area median income, the MRB Home and Assisted Program providing up to 4 percent of the sales price as a soft second mortgage, the Resilient Soft Second in certain parishes, and the MCC tax certificate crediting up to 40 percent of annual mortgage interest.
Can you buy a home in Louisiana with no down payment?
Yes. VA loans give eligible veterans 100 percent financing with a 620 credit score and no mortgage insurance, while USDA loans offer zero down to low and moderate-income families buying in less populated areas of Louisiana with a 640 credit score. Other buyers can still put down as little as 3 percent conventional or 3.5 percent FHA.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.