Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Louisiana mortgage costs
What a typical Louisiana (LA) purchase actually costs each month once property tax, insurance and PMI are included — and how to model your own numbers.
| Median home price | $210,000 |
|---|---|
| 10% down payment | $21,000 |
| Loan amount | $189,000 |
| Principal & interest (30yr @ 6.75%) | $1,226/mo |
| Property tax (0.56%) | $98/mo |
| Homeowners insurance | $500/mo |
| PMI (until 20% equity) | $79/mo |
| Estimated total monthly | $1,903/mo |
Illustrative only, at a 6.75% sample rate with 10% down. Your rate, tax assessment and insurance premium will differ.
What makes Louisiana different
Insurance can exceed principal and interest on a median home — treat the premium as the primary variable.
Homeowners insurance is unusually expensive here — $6,000 a year, the highest in the country. That is $500 a month, and unlike principal and interest it is not fixed for thirty years; premium increases land on top of a payment you already committed to.
A median home costs $210,000 and a comparable one rents for $1,300, a price-to-rent ratio of 13.5 — the 2nd lowest in the country. At that level buying overtakes renting quickly, and the question is mostly whether you will stay long enough to clear the closing costs.
Entry prices are among the country's more forgiving: a median $210,000 is the 3rd lowest in the country, $132,500 below the national median, so a 20% deposit is roughly $42,000.
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