Current mortgage rates · week of July 2, 2026
| Week | 30-yr / 15-yr fixed |
| July 2, 2026 | 6.43% / 5.79% |
| June 25, 2026 | 6.49% / 5.84% |
| June 18, 2026 | 6.47% / 5.81% |
| June 11, 2026 | 6.52% / 5.84% |
| June 4, 2026 | 6.48% / 5.79% |
| May 28, 2026 | 6.53% / 5.87% |
| May 21, 2026 | 6.51% / 5.85% |
| May 14, 2026 | 6.36% / 5.71% |
U.S. weekly averages — Freddie Mac Primary Mortgage Market Survey via FRED.
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
- 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.