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Buying a house in Bayeux? There is no shortage of homes for you to choose from.Louisiana has nearly 2.1 million residential unit According to the U.S. Census Bureau’s 2019 American Community Survey, the homeownership rate is about 66.6%.
The approximate median home price in Louisiana is $206,000, significantly lower than the national median of $350,300. Louisiana has some areas with low home prices, while other parts of the state can have higher home prices.
US News has conducted an in-depth review of leading direct mortgage lenders. The survey is based on program availability and customer satisfaction ratings. Because every consumer’s needs are different, the top products were selected in several key areas.
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Homefinity was launched in 2018 as the online lending arm of Fairway Independent Mortgage. We offer a variety of mortgage products, including traditional mortgages, Federal Housing Administration and Veterans Affairs mortgages, and mortgage refinances.
Caliber Home Loans of Coppell, Texas offers mortgage products nationwide. Options include conventional, variable rate, jumbo, refinance, Federal Housing Administration, USDA, and Veterans Affairs loans. Caliber has been in business since his 2008 and is dedicated to mortgage products.
Founded in 2007, Carrington Mortgage Services offers a range of mortgage and refinancing options to borrowers seeking traditional or government-sponsored loans. California-based parent company Carrington Holding Co. was founded in 2003 and offers a variety of real estate services. Carrington Mortgage Services is based in California with offices in Arizona, Connecticut, Florida, Indiana and Maryland.
The Department of Defense Federal Credit Union, popularly known as PenFed, offers borrowers access to various types of mortgages. Conventional, floating rate, jumbo, and VA, as well as refinancing loans and home equity lines of credit. The financial institution, which serves 2.5 million members, was founded in 1935 and is based in McLean, Virginia.
Headquartered in Charlotte, North Carolina, Truist Bank was formed following the merger of SunTrust Bank and BB&T Bank in 2019. Truist Bank offers a variety of mortgage products, including refinancing and home equity lines of credit.
Chase, one of the world’s largest banks, was founded in New York in 1799 and offers mortgages and refinancing loans.
AmeriSave Mortgage Corp. is an online lender that has been in business since 2002. He is one of the first companies to offer his customers an offsite digital his mortgage experience. The company says it has financed more than 664,000 borrowers since its inception. AmeriSave is headquartered in Atlanta and provides loans in 49 states and Washington, DC.
Veterans United Home Loans offers home loans in all 50 states and Washington DC and specializes in Veterans Administration loans. Since 2016, Veterans United Home Loans have generated the largest number of VA purchase loans in the country annually. The lender was founded in 2002 and is based in Columbia, Missouri.
PNC Bank is one of the largest banks in the United States, serving more than 9 million customers in all 50 states. A full-service mortgage lender, PNC offers most types of mortgage products.
Currently, the average mortgage interest rate in Louisiana is 6.95% Fixed loan term of 30 years.
Here are the interest rates available to Louisiana residents looking to buy or refinance a home as of November 1, 2022:
- 30-year subscription: 6.95%
- 30-year fixed referee: 7.44%
- 15-year fixed referee: 6.02%
Use bank rate
Keeping mortgage rates low today can save you thousands of dollars over the life of your loan. Compare mortgage interest rate offers to national average trends.
Is your dream home within reach? US News’ Mortgage Calculator shows you how much you can afford to buy a home.
Louisiana Housing Corporation offers six programs to help Louisiana homebuyers buy a home. These include down payment and closing cost loans, federal income tax credits, low fixed interest rates and low down payment options.
- Available: Eligible Louisiana homebuyers.
- Income limit: Varies by parish based on 80% of local median income (see). income limit).
- First time homebuyers only? yes.
- Minimum credit score: 640.
- advantage: The program has interest rates below market value. Depending on the loan amount, 5% to 9% down payment and closing cost assistance are available, as well as discounts on mortgage insurance.
- Available: Eligible Louisiana homebuyers.
- Income limit: Varies by region (see income limit).
- First time homebuyers only? Yes, unless the property is located in a qualifying area.
- Minimum credit score: 640.
- advantage: Program interest rates are generally market level. A closing cost assistance loan equal to 4% of the down payment and mortgage amount is available, and a discount on mortgage insurance is also available.
- Available: Eligible Louisiana homebuyers.
- Income limit: Varies by parish (see income limit).
- First time homebuyers only? No.
- Minimum credit score: 640.
- advantage: First-time and repeat buyers can get up to 4% backing on down payment, closing costs, and/or prepaid items, and a competitive 30-year fixed price.
- Available: Eligible Louisiana homebuyers in certain Delta parishes.
- Income limit: The maximum household income is $99,000.
- First time homebuyers only? yes.
- Minimum credit score: There is no minimum credit score required.
- advantage: First-time homebuyers can get a 30-year, 2% fixed rate mortgage, up to 100% financing, and up to 3% closing costs and upfront payment assistance.
- Available: low- and medium-income borrowers;
- Income limit: Varies by parish (see income limit).
- First time homebuyers only? yes.
- advantage: Homebuyers can take federal tax credits of up to 40% of annual mortgage interest payments and up to $2,000 annually. This program can be used in conjunction with the down payment assistance program.
- Available: Eligible Louisiana homebuyers in certain parishes.
- Income limit: Annual household income of 80% of regional median income.
- First time homebuyers only? yes. However, certain exceptions apply.
- advantage: Eligible homebuyers can obtain a loan of 20% of the purchase price up to $55,000 plus deferred payments until the loan is extinguished by sale or refinancing for up to $5,000 in closing costs. If the homebuyer occupies the home over her 10-year maturity, Soft her second her loan will be forgiven.
US News selects the best loan companies by evaluating affordability, borrower eligibility criteria, and customer service. Those with the highest overall scores are considered the best lenders.
To calculate each score, we use data about lenders and their loan offerings, giving greater weight to factors that matter most to borrowers. For mortgage lenders, we take into account each company’s customer service rating, interest rates, loan product availability, minimum down payment, minimum FICO score, and online capabilities.
The weight each scoring element receives is based on a national survey of what borrowers want from lenders.
To be rated, lenders must offer eligible loans nationally and have a strong reputation within the industry. Read more about our methodology.
PrimeLending is a Dallas-based mortgage lender that has been in business since 1986. The company offers multiple mortgage options, including traditional loans, jumbo loans, government-sponsored loans, and refinancing loans. The lender is a subsidiary of PlainsCapital Bank.
Real Genius is a division of FirstBank, a publicly traded bank based in Nashville, Tennessee. Formerly known as ConsumerDirect Mortgage, Real Genius offers both homebuying and refinancing loans.
Guild Mortgage is a San Diego-based lender founded in 1960 with a focus on mortgages. Guild Mortgage offers buyers in 43 states a range of mortgage products, including conventional loans, government-backed mortgages and jumbo loans.
Founded in 2011, SoFi is a San Francisco-based online lender that offers fixed-rate mortgages. Refinancing, jumbo loans and home equity loans are also available.
Founded in 1993 and headquartered in San Ramon, California, CMG Financial is a privately held mortgage banking company operating nationwide with localized support. Lenders offer a variety of products, including conventional, government, and specialty mortgages like jumbo loans.
Founded in 1990 and headquartered in Mount Laurel, New Jersey, Freedom Mortgage is a full-service mortgage company. Nationally, he is the fifth largest mortgage provider and is licensed to operate in all 50 states. Freedom Mortgage offers a variety of mortgage options, including traditional loans, refinancing, and first-time homebuyer-friendly programs such as FHA loans.
LoanDepot is a mortgage lender with over 200 branches nationwide, offering both a digital experience and face-to-face service. Lenders offer fixed and variable rate traditional mortgages, Federal Housing Administration and Veterans Administration loans, refinancing and renovation loans. The company was founded in his 2010 and is based in Foothill Ranch, California.
Alliant Credit Union is a not-for-profit financial cooperative serving customers in all 50 states. Alliant offers products such as conventional, jumbo, refinancing and home equity credit loans, however certain mortgage products may not be available in certain states.
Rocket Mortgage, the largest mortgage lender in the United States, was founded in 1985. The Detroit-based company is best known for the complete digital experience of buying or refinancing a home. Rocket Mortgage will change its name from Quicken Loans in the summer of 2021.
The Navy Federal Credit Union serves more than 11 million active duty and veterans, veterans, members of the Department of Defense and their families. Founded in 1933 and based in Vienna, Virginia, this not-for-profit credit union offers products ranging from credit cards to auto loans. Navy Federal is the largest credit union in the United States, with $160.5 billion in assets and 349 branches worldwide.
Advertising Disclosure: Some of the loan offers on this site are from companies that are advertising clients of US News. Advertising considerations may affect where offers appear on the site, but they do not affect editorial decisions, such as which loan products are described and how they are evaluated. This site does not include all loan companies or all loan offers available in the market.
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