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.
Lafayette mortgage calculator
A median-priced Lafayette, LA home at 6.75% over 30 years, with Louisiana property tax of 0.56% and $6,000 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$1,769 a month, all in
Principal and interest are $1,103; escrow and PMI add the rest. Over the full term the loan costs $227,076 in interest. Discounted at 5%, buying here has a net present value of $59,497 ($199,619 in today’s dollars).
Within Louisiana, Lafayette is 3rd of the 4 Louisiana markets covered here, between New Orleans at the top and Shreveport at the bottom of a 1.77x spread. A state-level median hides most of that.
At $189,000 to buy and $1,235 a month to rent, the price-to-rent ratio is 12.8 — low. Ownership tends to pull ahead quickly at that level, and the binding question is transaction costs rather than the monthly comparison.
Lafayette is cheaper than Louisiana as a whole — $189,000 against a state median of $210,000, roughly 10% below. On a 20% deposit that is $4,200 less to find up front.
Monthly cost in Lafayette vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $189,000 |
|---|---|
| Down payment (10%) | $18,900 |
| Loan amount | $170,100 |
| Principal & interest | $1,103/mo |
| Property tax (0.56%) | $88/mo |
| Homeowners insurance | $500/mo |
| PMI while above 80% LTV | $78/mo |
| Total monthly payment | $1,769/mo |
| Comparable rent | $1,235/mo |
What a rate move does to the Lafayette payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $966/mo |
| 6% | $1,020/mo |
| 6.5% | $1,075/mo |
| 7% | $1,132/mo |
| 7.5% | $1,189/mo |
| 8% | $1,248/mo |
Rent or buy in Lafayette?
Against $1,235 a month in rent, over 7 years renting leaves you about $29,031 better off — $24,422 once 2.5% inflation is stripped out. See the Louisiana rent-vs-buy page.
Where these numbers come from
Louisiana medians come from editorial and are refreshed weekly. The Lafayette figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.