Louisiana FHA Loans

Are you looking for a loan with flexible underwriting guidelines? Maybe you have less than perfect credit or don’t have a large down payment. FHA loans in Louisiana may provide the answer you need. Are you unsure about how FHA loans work? Maybe you don’t know if you’re a good candidate. Keep reading to learn more.

FHA Loans Work Best For

Louisiana FHA Loans are a great option for First Time Home Buyers and Repeat Home Buyers.  

FHA only requires a 580 Credit Score and allows for down payment as low as 3.5%  

They are also a good options for buyers with high debt to income ratios. 

How To Get A Louisiana FHA Loan

  • 3.5 % Down Payment ( Can Be Gift Funds) 
  • Credit Score of At Least 580
  • 2 Year Work History with No Gaps Over 6 Months and Less Than 3 Job Changes in The Last Year
  • A Debt to Income Ratio Under 56.9% ( Lower Credit Scores Could be Capped Under 50%) 
  • Closing Costs of Around $5k. FHA Does Allow The Seller To Cover Your Closing Costs Up to 6% of the Purchase Price. 
Louisiana FHA Loans

See What You Qualify For

Take the first step in owning a home.  Complete our quick quiz and see what you qualify for. 

Why Choose An FHA Loan

  • Lower Credit Score Requirements Than Other Loans
  • Available with a Down Payment as Low as 3.5% 
  • Reduced PMI For Lower Score Borrowers
  • FHA Allows 15 year and 30 year options. 
  • Qualify Even with Past Credit Issues Like Bankruptcy and Collections
Louisiana FHA Loans

What Homes Qualify?

FHA does have specific requirements when it comes to purchasing a home.  The home must meet FHA’s minimum property standards. 

  • It must not be a health or safety hazard. Homes that have mold or require serious remodeling typically won’t qualify for FHA. 
  • The structure of the home most also be sound. 
  • Broken glass, chipping paint, missing guard and hand rails are all things that would need to be fixed. 

The current FHA Loan Limit for most of Louisiana is $314,827. 

The Bayou A Home Plan

Complete 60 Second Questionnaire

We’ll get some important info about you to determine what products you qualify for.

Book a 15 Minute Call

Quick call to discuss your information and learn more about your goals and budget. 

Get Your Money Saving Plan

Get a Step-by-Step plan to owning a home you’ll love with a payment you can afford. 

What Next?

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