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Louisiana Mortgage Calculator

📅Last updated: October 5, 2025
✓Reviewed by: LumoCalculator Team

Estimate Louisiana mortgage payments with local property tax, insurance and closing costs. Choose parish rates, compare terms and see total interest and monthly breakdown.

Calculate Your Louisiana Mortgage

Louisiana average: 0.55%

Usually $0 if down payment ≥ 20%

Your Mortgage Results

$1,663
Total Monthly Payment

Payment Breakdown

Principal & Interest
Monthly loan payment
$1,398
Property Tax
Monthly property tax
$115
Home Insurance
Monthly insurance
$150

Loan Summary

Total Interest
$303,434
Total Payment
$503,434

Louisiana Mortgage Categories by Parish

Low Property Tax Parishes

Caddo Parish0.18%

Shreveport area

  • • Lowest property tax rate
  • • Major metropolitan area
Orleans Parish0.25%

New Orleans area

  • • Historic city center
  • • Tourism-based economy
Jefferson Parish0.35%

Metairie area

  • • Suburban New Orleans
  • • Family-friendly communities

Higher Property Tax Parishes

East Baton Rouge1.89%

Baton Rouge area

  • • State capital
  • • Higher services
Lafayette Parish1.45%

Lafayette area

  • • Oil & gas industry
  • • Growing economy
State Average0.55%

Louisiana average

  • • Well below national average
  • • Source: Tax Foundation 2024

How to Calculate Louisiana Mortgage

Mortgage Payment Formula

Monthly Payment: M = P × [r(1+r)^n] / [(1+r)^n - 1]
Where: P = Principal, r = Monthly Rate, n = Total Months
Total Payment: Monthly Payment + Property Tax + Insurance + PMI + HOA

Calculation Steps:

  1. 1
    Calculate loan amount
    Home price minus down payment
  2. 2
    Apply mortgage formula
    Calculate principal and interest payment
  3. 3
    Add Louisiana-specific costs
    Property tax, insurance, PMI, and HOA fees

💡 Louisiana-Specific Considerations

Louisiana has one of the lowest property tax rates in the US (0.55% average), which significantly reduces monthly housing costs compared to other states.

Important Considerations

⚠️ Financial Disclaimer

This calculator provides estimates. Consult with mortgage professionals and financial advisors for personalized advice.

🏠 Louisiana Property Tax Benefits

Louisiana has one of the lowest property tax rates in the US

  • • Average rate: 0.55% vs 1.1% national
  • • Significant monthly savings
  • • Varies by parish (0.18% - 1.89%)
💰 Closing Costs in Louisiana

Expect 2-5% of home price in closing costs

  • • Title insurance required
  • • Attorney fees common
  • • Transfer taxes apply
🌊 Hurricane Insurance

Many lenders require hurricane/flood insurance in designated zones

  • • Higher insurance costs
  • • Flood zone considerations
  • • Wind and hail coverage
📋 Louisiana-Specific Programs

State offers homebuyer assistance programs

  • • Louisiana Housing Corporation
  • • First-time buyer programs
  • • Rural development loans

Example Cases

Case 1: New Orleans First-Time Buyer

Home Price: $300,000
Down Payment: $60,000 (20%)
Interest Rate: 7.5%
Property Tax: 0.25% (Orleans Parish)
Monthly Payment: $1,678
Total Monthly: $2,053
Total Interest: $364,080
Savings vs National: $156/month

Use Case: Louisiana's low property tax (0.25% vs 1.1% national) saves $156/month compared to national average.

Case 2: Baton Rouge Family Home

Home Price: $400,000
Down Payment: $80,000 (20%)
Interest Rate: 7.2%
Property Tax: 1.89% (East Baton Rouge)
Monthly Payment: $2,171
Total Monthly: $3,001
Total Interest: $461,560
Insurance: $2,400/year

Use Case: Higher property tax in state capital, but still competitive with national rates. Includes hurricane insurance.

Frequently Asked Questions

What is the average property tax rate in Louisiana?
Louisiana has one of the lowest property tax rates in the United States, with an average effective rate of 0.55% as of 2024. This is significantly lower than the national average of 1.1%. Property taxes vary by parish, with rates ranging from 0.18% to 1.89%.
What are typical closing costs in Louisiana?
Closing costs in Louisiana typically range from 2% to 5% of the home purchase price. This includes title insurance, transfer taxes, attorney fees, and other expenses. For a $250,000 home, expect closing costs between $5,000 and $12,500.
Do I need PMI (Private Mortgage Insurance) in Louisiana?
PMI is typically required when your down payment is less than 20% of the home purchase price. In Louisiana, if you put down 20% or more, you generally won't need PMI. However, some loan programs may have different requirements.
What are current mortgage rates in Louisiana?
As of 2024, mortgage rates in Louisiana average around 7.5% for a 30-year fixed-rate mortgage, though rates vary by lender, credit score, and loan type. Rates are influenced by national economic conditions and Federal Reserve policies.
Are there any special mortgage programs for Louisiana residents?
Louisiana offers several homebuyer assistance programs including the Louisiana Housing Corporation's down payment assistance, first-time homebuyer programs, and special financing for rural areas. Veterans may also qualify for VA loans with favorable terms.
Is hurricane insurance required in Louisiana?
While Louisiana doesn't mandate hurricane insurance statewide, many lenders require it in designated flood zones and high-risk areas. The requirement depends on your property's location and the lender's policies. It's important to check with your specific lender about their insurance requirements.

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