Mortgage Points: Should I Pay Them
July 1, 2022
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If you’ve been speaking with a loan officer or are looking into buying a home, you may have heard the term, points, before. But what
Louisiana Mortgage Calculator
Use our free mortgage calculator to discover your estimated monthly mortgage payment. Discover how your payment changes as you make changes to your down payment, purchase price, term and interest rate.
Calculate Your Louisiana Mortgage Payment
Louisiana Mortgage Rates for Today
15 Year Fixed
Interest Rate
2.875%
APR
3.440%
Points
1.928 %
FHA 30 Year
Interest Rate
2.99%
APR
4.134%
Points
1.547%
VA 30 Year
Interest Rate
3.125%
APR
3.440%
Points
1.643%
These mortgage rates are current as of February 22nd, 2022
What Goes Into Your Mortgage Payment?
Principal & Interest: The amount you borrower from the lender plus the cost of borrowing that money.
Taxes: The annual amount of taxes owed to your parish based on their mileage rate and your properties value
Insurance: Property insurance, mortgage insurance, or flood insurance if it’s required.
How much does insurance typically cost?
The cost of insurance is determined by the location of the home, the size of the home, the age of the home, and the credit profile of the borrower. Lower credit, homes closer to the Gulf of Mexico, older homes and larger homes will all result in an increased insurance premium.
The typical cost of annual property insurance is between 0.5%-1% of the purchase price of the home you are buying.
Average Louisiana Property Taxes Per Parish
| County | Avg. property tax rate | Avg. home value |
|---|---|---|
| Acadia Parish | 0.28% | $97,500 |
| Allen Parish | 0.18% | $84,800 |
| Ascension Parish | 0.46% | $211,000 |
| Assumption Parish | 0.33% | $114,600 |
| Avoyelles Parish | 0.18% | $90,600 |
| Beauregard Parish | 0.27% | $115,200 |
| Bienville Parish | 0.29% | $76,000 |
| Bossier Parish | 0.57% | $170,400 |
| Caddo Parish | 0.71% | $149,000 |
| Calcasieu Parish | 0.42% | $165,900 |
| Caldwell Parish | 0.21% | $67,800 |
| Cameron Parish | 0.34% | $110,900 |
| Catahoula Parish | 0.13% | $78,700 |
| Claiborne Parish | 0.24% | $74,100 |
| Concordia Parish | 0.21% | $78,500 |
| De Soto Parish | 0.25% | $110,000 |
| East Baton Rouge Parish | 0.58% | $191,200 |
| East Carroll Parish | 0.52% | $68,200 |
| East Feliciana Parish | 0.19% | $124,100 |
| Evangeline Parish | 0.24% | $90,000 |
| Franklin Parish | 0.19% | $83,200 |
| Grant Parish | 0.28% | $93,600 |
| Iberia Parish | 0.35% | $122,600 |
| Iberville Parish | 0.30% | $127,500 |
| Jackson Parish | 0.31% | $84,400 |
| Jefferson Davis Parish | 0.28% | $101,800 |
| Jefferson Parish | 0.55% | $184,500 |
| Lafayette Parish | 0.51% | $188,000 |
| Lafourche Parish | 0.35% | $156,400 |
| LaSalle Parish | 0.34% | $76,700 |
| Lincoln Parish | 0.50% | $145,900 |
| Livingston Parish | 0.46% | $163,200 |
| Madison Parish | 0.24% | $64,100 |
| Morehouse Parish | 0.41% | $84,900 |
| Natchitoches Parish | 0.37% | $114,100 |
| Orleans Parish | 0.80% | $227,800 |
| Ouachita Parish | 0.45% | $151,300 |
| Plaquemines Parish | 0.38% | $165,900 |
| Pointe Coupee Parish | 0.25% | $124,500 |
| Rapides Parish | 0.43% | $142,200 |
| Red River Parish | 0.17% | $85,900 |
| Richland Parish | 0.18% | $86,900 |
| Sabine Parish | 0.21% | $84,200 |
| St. Bernard Parish | 0.38% | $139,200 |
| St. Charles Parish | 0.52% | $185,800 |
| St. Helena Parish | 0.15% | $77,400 |
| St. James Parish | 0.40% | $136,400 |
| St. John the Baptist Parish | 0.35% | $152,800 |
| St. Landry Parish | 0.18% | $109,100 |
| St. Martin Parish | 0.30% | $114,200 |
| St. Mary Parish | 0.40% | $97,000 |
| St. Tammany Parish | 0.79% | $214,300 |
| Tangipahoa Parish | 0.36% | $157,500 |
| Tensas Parish | 0.20% | $62,200 |
| Terrebonne Parish | 0.33% | $151,100 |
| Union Parish | 0.30% | $88,700 |
| Vermilion Parish | 0.31% | $105,700 |
| Vernon Parish | 0.21% | $116,600 |
| Washington Parish | 0.32% | $84,600 |
| Webster Parish | 0.31% | $81,600 |
| West Baton Rouge Parish | 0.40% | $177,000 |
| West Carroll Parish | 0.14% | $79,400 |
| West Feliciana Parish | 0.44% | $209,600 |
| Winn Parish | 0.23% | $72,700 |
How To Calculate Your Louisiana Mortgage Payment
Home Price: The purchase price of the home you are buying or your home’s current value if refinancing.
Down Payment: The amount you plan to put down if you’re buying a home. If your refinancing you’ll need to enter the amount of your equity.
Interest Rate: Enter your estimate interest rate or get a personalized rate quote here.
Annual Insurance: We suggest using between 1% to 1.5% of your purchase price to estimate your annual insurance costs. It can be lower but it’s better to over estimate than underestimate.
Taxes: Use the tax rate table above to find your parish and enter the amount based on your parish and purchase price.
Louisiana Housing Market Trends
Media Home Value: The median home value in Louisiana is $177,494
Home Prices in Louisiana
$0-$115,538: 30.2 % of homes
$115,539 – $240,874: 36% of homes
$230,875 – $346725: 18.7% of homes
$346,276+ : 15% of home
Louisiana Home Appreciation
Last Quarter: 3.18%
Last 12 Months: 8.66%
Last 2 Years: 12.59%
Last 5 Years: 20.49%
Last 10 Years: 37.44%
Since 2000: 104.12%
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