Mortgage Calculator – Louisiana
Louisiana offers affordable home prices across much of the state, but insurance and flood-related risks can significantly impact monthly mortgage costs.
This Louisiana mortgage calculator helps you estimate realistic payments by including loan terms, interest rates, property taxes, and insurance.
Mortgage Calculator – Louisiana
Why Mortgage Costs in Louisiana Vary
Louisiana has some of the lowest property tax rates in the U.S., which helps keep base mortgage payments low.
However, homeowners insurance — especially flood and wind coverage — can add a significant monthly cost depending on location.
Buyers should always factor insurance carefully when budgeting for a Louisiana mortgage.
Louisiana Mortgage Examples
Example 1: A $230,000 home with 20% down at 6.6% over 30 years may have a base mortgage payment under $1,200, but insurance can raise total costs.
Example 2: Homes near coastal or flood-prone areas often carry higher insurance premiums.
Example 3: Inland and rural areas typically have lower overall ownership costs.
15-Year vs 30-Year Mortgage in Louisiana
| Factor | 15-Year Loan | 30-Year Loan |
|---|---|---|
| Monthly Payment | Higher | Lower |
| Total Interest | Much lower | Much higher |
| Best For | Faster payoff | Cash-flow flexibility |
Frequently Asked Questions – Louisiana Mortgage
Are property taxes low in Louisiana?
Yes. Louisiana has some of the lowest property tax rates in the country.
Does this Louisiana mortgage calculator include insurance?
You can enter estimated annual insurance to reflect real monthly costs.
Is flood insurance required in Louisiana?
Flood insurance may be required in designated flood zones.
Do Louisiana buyers need PMI?
PMI may apply if your down payment is below 20%.
Are mortgage rates higher in Louisiana?
Rates generally follow national averages.
Does this calculator include HOA fees?
No. HOA fees should be added separately.
Is refinancing common in Louisiana?
Yes. Homeowners refinance to manage rates or reduce monthly costs.
Do hurricanes affect insurance premiums?
Yes. Storm exposure can significantly impact insurance costs.
Related Mortgage Tools
Disclaimer
This calculator provides estimates for educational purposes only and does not constitute financial, legal, or tax advice.